Sciencast Management LP trimmed its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 50.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,771 shares of the company’s stock after selling 2,839 shares during the quarter. Sciencast Management LP’s holdings in Advance Auto Parts were worth $323,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in AAP. Assetmark Inc. increased its position in Advance Auto Parts by 71.6% during the 4th quarter. Assetmark Inc. now owns 1,488 shares of the company’s stock worth $148,000 after purchasing an additional 621 shares in the last quarter. FDx Advisors Inc. acquired a new position in Advance Auto Parts during the 3rd quarter worth approximately $201,000. IFM Investors Pty Ltd acquired a new position in Advance Auto Parts during the 4th quarter worth approximately $207,000. Quantitative Systematic Strategies LLC acquired a new position in Advance Auto Parts during the 4th quarter worth approximately $207,000. Finally, Advisor Partners LLC acquired a new position in Advance Auto Parts during the 4th quarter worth approximately $208,000.
AAP has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Tuesday, January 16th. Morgan Stanley set a $120.00 price objective on shares of Advance Auto Parts and gave the stock a “buy” rating in a research report on Tuesday, December 12th. JPMorgan Chase upped their price objective on shares of Advance Auto Parts from $110.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Stephens reiterated a “hold” rating and set a $113.00 price objective (up from $58.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Finally, Robert W. Baird reiterated a “neutral” rating and set a $125.00 price objective (up from $100.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $112.14.
In related news, EVP Tammy M. Finley sold 342 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $116.35, for a total transaction of $39,791.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Greco bought 8,640 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The shares were bought at an average cost of $115.77 per share, for a total transaction of $1,000,252.80. Following the completion of the purchase, the insider now owns 135,081 shares of the company’s stock, valued at $15,638,327.37. The disclosure for this purchase can be found here. Corporate insiders own 4.10% of the company’s stock.
Shares of NYSE:AAP traded down $4.48 during trading on Friday, reaching $111.91. The stock had a trading volume of 1,291,175 shares, compared to its average volume of 943,067. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.36 and a current ratio of 1.56. Advance Auto Parts, Inc. has a 52 week low of $78.81 and a 52 week high of $151.72. The firm has a market cap of $8,278.88, a P/E ratio of 20.84, a P/E/G ratio of 1.35 and a beta of 1.04.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.12. Advance Auto Parts had a net margin of 5.07% and a return on equity of 12.45%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm posted $1.00 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. sell-side analysts anticipate that Advance Auto Parts, Inc. will post 6.7 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Friday, March 23rd were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, March 22nd. Advance Auto Parts’s dividend payout ratio is currently 4.47%.
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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.
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