Russell Investments Group Ltd. lowered its position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 61.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,360 shares of the company’s stock after selling 164,418 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.17% of Advance Auto Parts worth $15,339,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC acquired a new position in Advance Auto Parts in the first quarter valued at about $232,000. MetLife Investment Management LLC boosted its position in shares of Advance Auto Parts by 21.9% during the first quarter. MetLife Investment Management LLC now owns 16,965 shares of the company’s stock worth $3,511,000 after buying an additional 3,046 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Advance Auto Parts by 5.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,343 shares of the company’s stock valued at $1,727,000 after purchasing an additional 435 shares during the last quarter. Cibc World Market Inc. boosted its position in Advance Auto Parts by 120.6% during the first quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock valued at $2,399,000 after purchasing an additional 6,338 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Advance Auto Parts by 14.4% during the first quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock valued at $956,000 after purchasing an additional 582 shares during the last quarter. Institutional investors own 96.04% of the company’s stock.
Analyst Ratings Changes
AAP has been the subject of several recent research reports. StockNews.com initiated coverage on Advance Auto Parts in a research report on Thursday, March 16th. They set a “buy” rating for the company. DA Davidson lowered their price objective on Advance Auto Parts from $170.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 1st. Raymond James reduced their target price on Advance Auto Parts from $180.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 19th. Barclays raised Advance Auto Parts from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $140.00 to $129.00 in a report on Friday, March 31st. Finally, Citigroup reduced their target price on Advance Auto Parts from $159.00 to $153.00 and set a “neutral” rating on the stock in a report on Wednesday, March 1st. Thirteen equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and an average target price of $164.06.
Advance Auto Parts Trading Up 0.2 %
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.47. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.42 billion. Advance Auto Parts had a return on equity of 28.53% and a net margin of 4.50%. Advance Auto Parts’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $2.07 EPS. As a group, sell-side analysts expect that Advance Auto Parts, Inc. will post 10.63 EPS for the current fiscal year.
Advance Auto Parts Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 14th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Thursday, April 13th. Advance Auto Parts’s dividend payout ratio is currently 72.55%.
Advance Auto Parts Profile
Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.
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