Capital Bank & Trust Co decreased its stake in Advance Auto Parts Inc (NYSE:AAP) by 83.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,937 shares of the company’s stock after selling 237,957 shares during the quarter. Capital Bank & Trust Co owned approximately 0.06% of Advance Auto Parts worth $4,656,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of AAP. Tobam acquired a new position in shares of Advance Auto Parts during the second quarter valued at approximately $118,000. QS Investors LLC raised its holdings in shares of Advance Auto Parts by 0.9% during the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after acquiring an additional 9 shares during the last quarter. Global X Management Co. LLC raised its holdings in shares of 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 valued at $130,000 after acquiring an additional 139 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Advance Auto Parts by 57.5% during the second quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock valued at $141,000 after acquiring an additional 441 shares during the last quarter. Finally, Federated Investors Inc. PA raised its holdings in shares of Advance Auto Parts by 763.0% during the second quarter. Federated Investors Inc. PA now owns 1,398 shares of the company’s stock valued at $163,000 after acquiring an additional 1,236 shares during the last quarter.
A number of brokerages have commented on AAP. Bank of America reissued an “underperform” rating and set a $87.50 target price on shares of Advance Auto Parts in a report on Tuesday, September 5th. Credit Suisse Group set a $100.00 price target on Advance Auto Parts and gave the company a “buy” rating in a report on Wednesday, August 16th. Royal Bank of Canada cut their price target on Advance Auto Parts from $125.00 to $102.00 and set a “sector perform” rating for the company in a report on Wednesday, August 16th. Jefferies Group cut their price target on Advance Auto Parts from $130.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, November 15th. Finally, Citigroup cut Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, October 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $104.89.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.18. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.21 billion. Advance Auto Parts had a return on equity of 13.51% and a net margin of 3.75%. Advance Auto Parts’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business posted $1.73 earnings per share. equities research analysts predict that Advance Auto Parts Inc will post 5.22 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be issued a $0.06 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.24%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 5.03%.
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Advance Auto Parts 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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