The Manufacturers Life Insurance Company lifted its position in shares of Advance Auto Parts Inc (NYSE:AAP) by 17.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 494,549 shares of the company’s stock after buying an additional 74,103 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.67% of Advance Auto Parts worth $57,660,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in shares of Advance Auto Parts by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 358,722 shares of the company’s stock worth $41,825,000 after buying an additional 18,209 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Advance Auto Parts by 78.0% during the 2nd quarter. Wells Fargo & Company MN now owns 884,760 shares of the company’s stock worth $103,155,000 after buying an additional 387,673 shares during the last quarter. Tobam acquired a new stake in shares of Advance Auto Parts during the 2nd quarter worth $118,000. Marshall Wace North America L.P. acquired a new stake in shares of Advance Auto Parts during the 1st quarter worth $2,028,000. Finally, ARGA Investment Management LP increased its holdings in shares of Advance Auto Parts by 89.0% during the 2nd quarter. ARGA Investment Management LP now owns 53,300 shares of the company’s stock worth $6,214,000 after buying an additional 25,100 shares during the last quarter.
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A number of analysts have recently commented on the company. Jefferies Group LLC upped their price objective on Advance Auto Parts to $150.00 and gave the stock a “hold” rating in a report on Wednesday, June 28th. Maxim Group reiterated a “buy” rating on shares of Advance Auto Parts in a report on Thursday, June 29th. Citigroup Inc. lowered their price target on Advance Auto Parts to $99.00 and set a “neutral” rating for the company in a report on Wednesday, August 16th. UBS AG reiterated a “buy” rating and issued a $118.00 price target (down from $155.00) on shares of Advance Auto Parts in a report on Wednesday, August 16th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $90.00 price target (down from $93.00) on shares of Advance Auto Parts in a report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Advance Auto Parts currently has a consensus rating of “Hold” and a consensus price target of $118.79.
Advance Auto Parts Inc (NYSE AAP) traded down 0.91% during trading on Wednesday, reaching $91.00. 71,934 shares of the company’s stock were exchanged. The company’s 50-day moving average is $96.22 and its 200-day moving average is $118.96. The company has a market capitalization of $6.72 billion, a PE ratio of 18.17 and a beta of 0.92. Advance Auto Parts Inc has a 1-year low of $82.21 and a 1-year high of $177.83.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.07). The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business earned $1.90 EPS. Equities research analysts expect that Advance Auto Parts Inc will post $5.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.24 annualized dividend and a yield of 0.26%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.80%.
About Advance Auto Parts
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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