JPMorgan Chase & Co. trimmed its holdings in shares of Advance Auto Parts Inc (NYSE:AAP) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,034 shares of the company’s stock after selling 2,880 shares during the quarter. JPMorgan Chase & Co.’s holdings in Advance Auto Parts were worth $3,268,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of AAP. Tobam purchased a new position in Advance Auto Parts during the second quarter worth about $118,000. Huntington National Bank grew its position in Advance Auto Parts by 37.1% during the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after buying an additional 283 shares in the last quarter. Global X Management Co. LLC grew its position in Advance Auto Parts by 14.3% during the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock worth $130,000 after buying an additional 139 shares in the last quarter. IFP Advisors Inc grew its position in Advance Auto Parts by 57.5% during the second quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock worth $141,000 after buying an additional 441 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Advance Auto Parts by 7.5% during the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock worth $143,000 after buying an additional 67 shares in the last quarter.
AAP has been the subject of several recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $125.00 target price (down from $160.00) on shares of Advance Auto Parts in a research report on Thursday, July 6th. Bank of America Corporation cut Advance Auto Parts from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $150.00 to $90.00 in a research report on Friday, July 7th. BTIG Research restated a “sell” rating and set a $109.00 target price (down from $120.00) on shares of Advance Auto Parts in a research report on Thursday, June 22nd. Deutsche Bank AG restated a “buy” rating and set a $139.00 target price (down from $164.00) on shares of Advance Auto Parts in a research report on Friday, July 21st. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of Advance Auto Parts in a research report on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $118.79.
Shares of Advance Auto Parts Inc (NYSE AAP) opened at 91.84 on Wednesday. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 18.33 and a beta of 0.92. The firm’s 50-day moving average price is $96.22 and its 200 day moving average price is $118.96. Advance Auto Parts Inc has a 52 week low of $82.21 and a 52 week high of $177.83.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.07). The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. On average, equities research analysts forecast that Advance Auto Parts Inc will post $5.17 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were given a $0.06 dividend. The ex-dividend date was Thursday, September 21st. This represents a $0.24 annualized dividend and a yield of 0.26%. Advance Auto Parts’s dividend payout ratio is currently 4.80%.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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