Strs Ohio reduced its stake in Advance Auto Parts, Inc. (NYSE:AAP – Free Report) by 83.0% in the first quarter, HoldingsChannel reports. The fund owned 3,600 shares of the company’s stock after selling 17,600 shares during the quarter. Strs Ohio’s holdings in Advance Auto Parts were worth $190,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in Advance Auto Parts by 3.1% during the second quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock worth $293,000 after purchasing an additional 191 shares in the last quarter. AlphaCore Capital LLC boosted its stake in Advance Auto Parts by 53.6% during the 4th quarter. AlphaCore Capital LLC now owns 883 shares of the company’s stock valued at $35,000 after purchasing an additional 308 shares in the last quarter. ProShare Advisors LLC boosted its stake in Advance Auto Parts by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 11,673 shares of the company’s stock valued at $459,000 after purchasing an additional 362 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Advance Auto Parts by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 30,554 shares of the company’s stock valued at $1,200,000 after purchasing an additional 371 shares during the period. Finally, LPL Financial LLC increased its position in shares of Advance Auto Parts by 2.0% during the 4th quarter. LPL Financial LLC now owns 19,410 shares of the company’s stock valued at $763,000 after purchasing an additional 380 shares during the period. 88.70% of the stock is currently owned by institutional investors.
Advance Auto Parts Trading Down 0.2%
Shares of AAP opened at $57.81 on Monday. The business’s 50-day moving average price is $57.26 and its 200 day moving average price is $52.90. The stock has a market capitalization of $3.49 billion, a P/E ratio of 80.29, a P/E/G ratio of 0.95 and a beta of 1.03. Advance Auto Parts, Inc. has a 1-year low of $37.89 and a 1-year high of $70.00. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 1.54.
Advance Auto Parts Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, July 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Advance Auto Parts’s payout ratio is currently 138.89%.
Analyst Ratings Changes
AAP has been the subject of several research analyst reports. Weiss Ratings upgraded Advance Auto Parts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Royal Bank Of Canada raised their price objective on shares of Advance Auto Parts from $62.00 to $65.00 and gave the company a “sector perform” rating in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft raised shares of Advance Auto Parts to a “buy” rating in a research note on Friday, May 22nd. BMO Capital Markets raised their target price on shares of Advance Auto Parts from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Friday, May 22nd. Finally, The Goldman Sachs Group lifted their price target on shares of Advance Auto Parts from $49.00 to $54.00 and gave the stock a “sell” rating in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and a consensus price target of $58.66.
Check Out Our Latest Stock Report on Advance Auto Parts
About Advance Auto Parts
Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.
The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.
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