Point72 Asset Management L.P. Has $7.22 Million Holdings in Advance Auto Parts Inc (AAP)

Point72 Asset Management L.P. cut its holdings in shares of Advance Auto Parts Inc (NYSE:AAP) by 73.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,800 shares of the company’s stock after selling 206,400 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.10% of Advance Auto Parts worth $7,222,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Strs Ohio grew its stake in Advance Auto Parts by 3.8% in the 2nd quarter. Strs Ohio now owns 4,107 shares of the company’s stock valued at $478,000 after buying an additional 152 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Advance Auto Parts by 92.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 3,570 shares of the company’s stock valued at $416,000 after buying an additional 1,719 shares during the last quarter. IFP Advisors Inc grew its stake in Advance Auto Parts by 57.5% in the 2nd quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock valued at $141,000 after buying an additional 441 shares during the last quarter. Retirement Systems of Alabama grew its stake in Advance Auto Parts by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 35,804 shares of the company’s stock valued at $4,174,000 after buying an additional 149 shares during the last quarter. Finally, Beach Investment Management LLC. acquired a new position in Advance Auto Parts in the 2nd quarter valued at about $1,322,000.

Advance Auto Parts Inc (NYSE:AAP) opened at $100.70 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.52 and a quick ratio of 0.32. Advance Auto Parts Inc has a 12-month low of $78.81 and a 12-month high of $177.50. The stock has a market cap of $7,441.53, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.18. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the company posted $1.73 EPS. The company’s revenue was down 3.0% on a year-over-year basis. equities research analysts predict that Advance Auto Parts Inc will post 5.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 22nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Thursday, December 21st. Advance Auto Parts’s dividend payout ratio (DPR) is presently 5.03%.

A number of research analysts have issued reports on AAP shares. Morgan Stanley set a $120.00 target price on shares of Advance Auto Parts and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Moffett Nathanson started coverage on shares of Advance Auto Parts in a research report on Monday, December 4th. They set a “neutral” rating on the stock. Jefferies Group decreased their target price on shares of Advance Auto Parts from $130.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. Citigroup increased their target price on shares of Advance Auto Parts from $82.00 to $85.00 and gave the stock a “sell” rating in a research report on Wednesday, November 15th. Finally, Royal Bank of Canada increased their target price on shares of Advance Auto Parts from $100.00 to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 15th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Advance Auto Parts has a consensus rating of “Hold” and an average price target of $106.32.

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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.

Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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