Advance Auto Parts, Inc. (NYSE:AAP) Position Increased by Wrapmanager Inc.

Wrapmanager Inc. lifted its position in Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 36.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,953 shares of the company’s stock after acquiring an additional 518 shares during the quarter. Wrapmanager Inc.’s holdings in Advance Auto Parts were worth $404,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Life Planning Partners Inc purchased a new stake in shares of Advance Auto Parts in the 4th quarter valued at approximately $30,000. Central Bank & Trust Co. purchased a new stake in Advance Auto Parts in the 1st quarter worth approximately $29,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Advance Auto Parts in the 1st quarter worth approximately $35,000. FNY Investment Advisers LLC purchased a new stake in Advance Auto Parts in the 1st quarter worth approximately $41,000. Finally, GPS Wealth Strategies Group LLC bought a new position in shares of Advance Auto Parts during the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Advance Auto Parts Stock Up 2.1 %

Shares of AAP stock opened at $209.60 on Wednesday. The firm has a fifty day moving average of $185.00 and a 200-day moving average of $201.06. The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 0.41. Advance Auto Parts, Inc. has a 12-month low of $164.00 and a 12-month high of $244.55. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 1.19 and a beta of 1.22.

Advance Auto Parts (NYSE:AAPGet Rating) last announced its earnings results on Monday, May 23rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.53 by $0.04. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Advance Auto Parts had a net margin of 5.16% and a return on equity of 24.74%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.34 earnings per share. As a group, equities research analysts predict that Advance Auto Parts, Inc. will post 13.68 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 17th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Thursday, June 16th. Advance Auto Parts’s dividend payout ratio is currently 66.82%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AAP. Citigroup cut their price target on shares of Advance Auto Parts from $294.00 to $250.00 in a report on Friday, May 13th. Guggenheim reduced their price target on shares of Advance Auto Parts from $266.00 to $259.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. Wells Fargo & Company reduced their target price on shares of Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 24th. Royal Bank of Canada dropped their price target on shares of Advance Auto Parts from $247.00 to $217.00 in a research note on Wednesday, May 25th. Finally, MKM Partners began coverage on shares of Advance Auto Parts in a research note on Thursday, June 23rd. They set a “buy” rating and a $195.00 price target for the company. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $242.17.

About Advance Auto Parts

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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.

See Also

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

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