Gateway Investment Advisers LLC decreased its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 11.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,920 shares of the company’s stock after selling 525 shares during the period. Gateway Investment Advisers LLC’s holdings in Advance Auto Parts were worth $668,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also bought and sold shares of the company. Legacy Financial Advisors Inc. purchased a new stake in shares of Advance Auto Parts during the 4th quarter worth $38,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Advance Auto Parts by 38.2% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 329 shares of the company’s stock worth $52,000 after purchasing an additional 91 shares during the last quarter. Enlightenment Research LLC purchased a new stake in shares of Advance Auto Parts during the 4th quarter worth $79,000. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Advance Auto Parts during the 3rd quarter worth $164,000. Finally, Dupont Capital Management Corp lifted its position in shares of Advance Auto Parts by 14.9% during the 4th quarter. Dupont Capital Management Corp now owns 1,043 shares of the company’s stock worth $164,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 99.58% of the company’s stock.
Several research firms have recently issued reports on AAP. Zacks Investment Research cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Citigroup decreased their price objective on shares of Advance Auto Parts from $188.00 to $182.00 and set a “neutral” rating for the company in a research report on Monday, April 1st. Credit Suisse Group reaffirmed a “buy” rating and set a $195.00 price objective on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Evercore ISI began coverage on shares of Advance Auto Parts in a research report on Wednesday, March 20th. They set an “outperform” rating and a $185.00 price objective for the company. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $175.00 price objective on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $187.44.
Shares of AAP opened at $176.81 on Thursday. Advance Auto Parts, Inc. has a 1-year low of $102.15 and a 1-year high of $186.15. The firm has a market capitalization of $12.90 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.73 and a beta of 1.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.44.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Tuesday, February 19th. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. Advance Auto Parts had a net margin of 4.42% and a return on equity of 14.64%. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the company earned $0.77 earnings per share. Advance Auto Parts’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Advance Auto Parts, Inc. will post 8.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 22nd were given a $0.06 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.14%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 3.37%.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.
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