Illinois Municipal Retirement Fund lessened its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 4.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,456 shares of the company’s stock after selling 775 shares during the period. Illinois Municipal Retirement Fund’s holdings in Advance Auto Parts were worth $3,020,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC raised its position in shares of Advance Auto Parts by 287.6% during the 1st quarter. FMR LLC now owns 139,025 shares of the company’s stock valued at $23,708,000 after acquiring an additional 103,160 shares during the last quarter. Wetherby Asset Management Inc. acquired a new position in Advance Auto Parts in the 3rd quarter worth $213,000. Carroll Financial Associates Inc. acquired a new position in Advance Auto Parts in the 4th quarter worth $45,000. Louisiana State Employees Retirement System boosted its stake in shares of Advance Auto Parts by 20.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 4,200 shares of the company’s stock worth $662,000 after buying an additional 700 shares during the last quarter. Finally, NuWave Investment Management LLC boosted its stake in shares of Advance Auto Parts by 31.7% during the 4th quarter. NuWave Investment Management LLC now owns 515 shares of the company’s stock worth $81,000 after buying an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.
Shares of AAP opened at $201.86 on Tuesday. The stock has a 50-day simple moving average of $188.94 and a 200-day simple moving average of $165.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 1.38. The stock has a market capitalization of $13.23 billion, a PE ratio of 29.34, a PEG ratio of 1.31 and a beta of 1.27. Advance Auto Parts, Inc. has a 1 year low of $115.00 and a 1 year high of $203.63.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 2nd. Shareholders of record on Friday, June 18th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, June 17th. This is a positive change from Advance Auto Parts’s previous quarterly dividend of $0.25. This represents a $4.00 annualized dividend and a yield of 1.98%. Advance Auto Parts’s dividend payout ratio is currently 12.21%.
A number of analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of Advance Auto Parts from $195.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, April 27th. Royal Bank of Canada raised their price objective on shares of Advance Auto Parts from $206.00 to $216.00 and gave the company an “outperform” rating in a research note on Tuesday, April 27th. JPMorgan Chase & Co. lifted their price target on shares of Advance Auto Parts from $211.00 to $227.00 in a report on Wednesday, April 21st. Wedbush lifted their price target on shares of Advance Auto Parts from $210.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on shares of Advance Auto Parts from $193.00 to $228.00 in a research report on Wednesday, April 21st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Advance Auto Parts currently has a consensus rating of “Hold” and a consensus target price of $179.30.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company 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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