The Manufacturers Life Insurance Company raised its position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,797 shares of the company's stock after purchasing an additional 1,325 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Advance Auto Parts worth $7,316,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of AAP. Covestor Ltd lifted its position in shares of Advance Auto Parts by 113.7% during the first quarter. Covestor Ltd now owns 156 shares of the company's stock worth $32,000 after acquiring an additional 83 shares in the last quarter. Ellevest Inc. lifted its position in shares of Advance Auto Parts by 161.0% during the second quarter. Ellevest Inc. now owns 201 shares of the company's stock worth $35,000 after acquiring an additional 124 shares in the last quarter. First Personal Financial Services lifted its position in shares of Advance Auto Parts by 113.3% during the third quarter. First Personal Financial Services now owns 224 shares of the company's stock worth $35,000 after acquiring an additional 119 shares in the last quarter. Private Trust Co. NA purchased a new stake in shares of Advance Auto Parts during the second quarter worth $36,000. Finally, Central Bank & Trust Co. lifted its position in shares of Advance Auto Parts by 61.6% during the second quarter. Central Bank & Trust Co. now owns 223 shares of the company's stock worth $39,000 after acquiring an additional 85 shares in the last quarter. 96.04% of the stock is owned by institutional investors.
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Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Royal Bank of Canada dropped their target price on Advance Auto Parts from $199.00 to $165.00 and set a "sector perform" rating on the stock in a research report on Thursday, November 17th. Guggenheim downgraded Advance Auto Parts from a "buy" rating to a "neutral" rating in a research report on Thursday, November 17th. DA Davidson lowered their price objective on Advance Auto Parts from $200.00 to $170.00 in a research report on Thursday, November 17th. Wells Fargo & Company lowered their price objective on Advance Auto Parts from $180.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 5th. Finally, Morgan Stanley lowered their price objective on Advance Auto Parts from $205.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 17th. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $189.88.
Advance Auto Parts Trading Down 0.1 %
NYSE AAP opened at $147.44 on Friday. The stock's 50-day simple moving average is $147.71 and its two-hundred day simple moving average is $168.44. Advance Auto Parts, Inc. has a twelve month low of $138.52 and a twelve month high of $237.39. The company has a quick ratio of 0.23, a current ratio of 1.13 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 0.98 and a beta of 1.15.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Tuesday, November 15th. The company reported $2.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.32 by ($0.48). Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.66 billion. Research analysts forecast that Advance Auto Parts, Inc. will post 12.59 EPS for the current fiscal year.
Advance Auto Parts Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were paid a dividend of $1.50 per share. The ex-dividend date was Thursday, December 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.07%. Advance Auto Parts's dividend payout ratio (DPR) is currently 77.12%.
Advance Auto Parts Company Profile
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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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