Advance Auto Parts Inc (AAP) Position Trimmed by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of Advance Auto Parts Inc (NYSE:AAP) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,190 shares of the company’s stock after selling 2,678 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Advance Auto Parts were worth $2,896,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc lifted its position in Advance Auto Parts by 5.3% during the second quarter. Legal & General Group Plc now owns 358,722 shares of the company’s stock worth $41,825,000 after purchasing an additional 18,209 shares during the period. Wells Fargo & Company MN lifted its position in Advance Auto Parts by 78.0% during the second quarter. Wells Fargo & Company MN now owns 884,760 shares of the company’s stock worth $103,155,000 after purchasing an additional 387,673 shares during the period. Tobam bought a new stake in Advance Auto Parts during the second quarter worth about $118,000. Vanguard Group Inc. lifted its position in Advance Auto Parts by 2.7% during the second quarter. Vanguard Group Inc. now owns 6,966,176 shares of the company’s stock worth $812,186,000 after purchasing an additional 185,970 shares during the period. Finally, ARGA Investment Management LP lifted its position in Advance Auto Parts by 89.0% during the second quarter. ARGA Investment Management LP now owns 53,300 shares of the company’s stock worth $6,214,000 after purchasing an additional 25,100 shares during the period.
AAP has been the subject of a number of research reports. Morgan Stanley set a $120.00 target price on shares of Advance Auto Parts and gave the stock a “buy” rating in a report on Tuesday. Jefferies Group reissued a “buy” rating and issued a $130.00 target price on shares of Advance Auto Parts in a report on Tuesday, September 12th. Royal Bank of Canada increased their target price on shares of Advance Auto Parts from $100.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, November 15th. Barclays raised shares of Advance Auto Parts from an “underweight” rating to an “equal weight” rating and set a $90.00 target price for the company in a report on Monday, August 21st. Finally, Citigroup increased their target price on shares of Advance Auto Parts from $82.00 to $85.00 and gave the stock a “sell” rating in a report on Wednesday, November 15th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Advance Auto Parts has a consensus rating of “Hold” and an average target price of $106.32.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.18. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.21 billion. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business earned $1.73 EPS. equities analysts expect that Advance Auto Parts Inc will post 5.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.24%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 5.03%.
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About Advance Auto Parts
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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