Aviva PLC Lowers Stake in Advance Auto Parts, Inc. (AAP)

Aviva PLC trimmed its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 3.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,418 shares of the company’s stock after selling 1,239 shares during the quarter. Aviva PLC’s holdings in Advance Auto Parts were worth $5,794,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Advance Auto Parts by 15.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 709,088 shares of the company’s stock valued at $119,369,000 after purchasing an additional 97,228 shares during the period. Quantbot Technologies LP bought a new position in Advance Auto Parts in the 3rd quarter valued at $5,736,000. Panagora Asset Management Inc. grew its stake in Advance Auto Parts by 2,122.6% in the 3rd quarter. Panagora Asset Management Inc. now owns 136,402 shares of the company’s stock valued at $22,961,000 after purchasing an additional 130,265 shares during the period. Gideon Capital Advisors Inc. bought a new position in Advance Auto Parts in the 3rd quarter valued at $506,000. Finally, Pictet Asset Management Ltd. grew its stake in Advance Auto Parts by 3.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 40,093 shares of the company’s stock valued at $6,749,000 after purchasing an additional 1,400 shares during the period. 97.88% of the stock is currently owned by institutional investors.

AAP stock opened at $167.59 on Friday. The company has a quick ratio of 0.49, a current ratio of 1.62 and a debt-to-equity ratio of 0.29. The firm has a market cap of $12.99 billion, a PE ratio of 31.21, a PEG ratio of 2.07 and a beta of 1.06. Advance Auto Parts, Inc. has a fifty-two week low of $97.38 and a fifty-two week high of $186.15.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, November 13th. The company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.14. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.23 billion. Advance Auto Parts had a return on equity of 13.99% and a net margin of 5.83%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.43 EPS. On average, equities analysts forecast that Advance Auto Parts, Inc. will post 7.11 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 21st will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, December 20th. This represents a $0.24 annualized dividend and a dividend yield of 0.14%. Advance Auto Parts’s payout ratio is 4.47%.

Advance Auto Parts declared that its board has authorized a stock repurchase program on Tuesday, August 14th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the company to reacquire up to 5.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

A number of research analysts have issued reports on the company. Credit Suisse Group set a $195.00 price objective on Advance Auto Parts and gave the company a “buy” rating in a research note on Wednesday, November 14th. Deutsche Bank set a $205.00 price objective on Advance Auto Parts and gave the company a “buy” rating in a research note on Wednesday, November 14th. Bank of America upped their price objective on Advance Auto Parts from $177.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, November 14th. UBS Group upped their price objective on Advance Auto Parts from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, November 14th. Finally, Citigroup upped their price objective on Advance Auto Parts from $155.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, November 14th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $178.76.

In other news, Director Fiona P. Dias sold 1,048 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $177.54, for a total transaction of $186,061.92. Following the completion of the transaction, the director now owns 11,693 shares in the company, valued at approximately $2,075,975.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

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Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.

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

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