Franklin Resources Inc. raised its holdings in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 260.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,610 shares of the company’s stock after purchasing an additional 17,059 shares during the quarter. Franklin Resources Inc.’s holdings in Advance Auto Parts were worth $3,471,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in AAP. Private Advisor Group LLC bought a new stake in shares of Advance Auto Parts during the first quarter worth $232,000. MetLife Investment Management LLC raised 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 acquiring an additional 3,046 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of 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 worth $1,727,000 after acquiring an additional 435 shares during the last quarter. Cibc World Market Inc. raised its position in shares of Advance Auto Parts by 120.6% during the first quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock worth $2,399,000 after acquiring an additional 6,338 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of Advance Auto Parts by 14.4% during the first quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock worth $956,000 after acquiring an additional 582 shares during the last quarter. Institutional investors own 96.04% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on AAP shares. Citigroup decreased their price objective on Advance Auto Parts from $126.00 to $76.00 in a research note on Thursday. Roth Mkm cut Advance Auto Parts from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $180.00 to $140.00 in a research note on Monday, February 13th. Stephens decreased their price objective on Advance Auto Parts from $148.00 to $80.00 in a research note on Thursday. Wells Fargo & Company decreased their price objective on Advance Auto Parts from $125.00 to $80.00 in a research note on Thursday. Finally, Roth Capital reaffirmed a “neutral” rating and set a $140.00 price objective (down from $180.00) on shares of Advance Auto Parts in a research note on Monday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and an average target price of $104.42.
Advance Auto Parts Stock Performance
Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings results on Wednesday, May 31st. The company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $2.60 by ($1.88). The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.43 billion. Advance Auto Parts had a net margin of 3.61% and a return on equity of 22.67%. During the same quarter last year, the firm earned $3.57 earnings per share. Equities analysts predict that Advance Auto Parts, Inc. will post 10.8 earnings per share for the current fiscal year.
Advance Auto Parts Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, July 13th. This represents a $1.00 annualized dividend and a yield of 1.48%. Advance Auto Parts’s payout ratio is presently 89.15%.
Advance Auto Parts Company 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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