Geode Capital Management LLC reduced its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 768,733 shares of the company’s stock after selling 51,022 shares during the period. Geode Capital Management LLC owned about 1.04% of Advance Auto Parts worth $76,468,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Public Employees Retirement Association of Colorado lifted its stake in Advance Auto Parts by 3.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 14,041 shares of the company’s stock worth $1,400,000 after acquiring an additional 453 shares in the last quarter. Assetmark Inc. raised its stake in shares of 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. Mutual of America Capital Management LLC raised its stake in shares of Advance Auto Parts by 8.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 8,565 shares of the company’s stock worth $854,000 after purchasing an additional 663 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Advance Auto Parts by 0.5% during the 4th quarter. Rhumbline Advisers now owns 135,847 shares of the company’s stock worth $13,543,000 after purchasing an additional 677 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Advance Auto Parts by 5.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,761 shares of the company’s stock worth $1,372,000 after purchasing an additional 708 shares in the last quarter.
AAP has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price target on Advance Auto Parts from $110.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Argus reaffirmed a “buy” rating and set a $114.00 price target (down from $135.00) on shares of Advance Auto Parts in a research note on Thursday, February 22nd. Morgan Stanley set a $120.00 price target on Advance Auto Parts and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Royal Bank of Canada raised their price target on Advance Auto Parts from $100.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 15th. Finally, Citigroup raised their price target on Advance Auto Parts from $82.00 to $85.00 and gave the stock a “sell” rating in a research note on Wednesday, November 15th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $112.14.
Advance Auto Parts (NYSE:AAP) last issued 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. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. Advance Auto Parts had a return on equity of 12.45% and a net margin of 5.07%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 EPS. analysts expect that Advance Auto Parts, Inc. will post 6.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Friday, March 23rd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date is Thursday, March 22nd. Advance Auto Parts’s dividend payout ratio (DPR) is currently 3.74%.
In other Advance Auto Parts news, EVP Tammy M. Finley sold 342 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $116.35, for a total value of $39,791.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John C. Brouillard sold 1,745 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $116.08, for a total value of $202,559.60. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.
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Advance Auto Parts Profile
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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