Gabelli Funds LLC Trims Holdings in Advance Auto Parts, Inc. (AAP)
Gabelli Funds LLC reduced its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 10.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 23,200 shares of the company’s stock after selling 2,600 shares during the period. Gabelli Funds LLC’s holdings in Advance Auto Parts were worth $2,313,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. QS Investors LLC increased its holdings in Advance Auto Parts by 0.9% during the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after purchasing an additional 9 shares during the period. FDx Advisors Inc. purchased a new position in Advance Auto Parts during the 3rd quarter worth $201,000. IFM Investors Pty Ltd bought a new stake in Advance Auto Parts during the 4th quarter valued at $207,000. Quantitative Systematic Strategies LLC bought a new stake in Advance Auto Parts during the 4th quarter valued at $207,000. Finally, Advisor Partners LLC bought a new stake in Advance Auto Parts during the 4th quarter valued at $208,000.
Shares of Advance Auto Parts, Inc. (NYSE AAP) opened at $106.22 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.52 and a quick ratio of 0.32. The firm has a market capitalization of $8,090.36, a price-to-earnings ratio of 19.51, a PEG ratio of 1.77 and a beta of 1.14. Advance Auto Parts, Inc. has a 52-week low of $78.81 and a 52-week high of $169.55.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Stockholders of record on Friday, March 23rd will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Advance Auto Parts’s payout ratio is 5.03%.
AAP has been the topic of several recent research reports. BTIG Research reaffirmed a “sell” rating and set a $75.00 target price (down previously from $90.00) on shares of Advance Auto Parts in a research report on Wednesday, October 25th. Royal Bank of Canada increased their target price on Advance Auto Parts from $100.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. Morgan Stanley set a $120.00 target price on Advance Auto Parts and gave the company a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised Advance Auto Parts from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. increased their target price on Advance Auto Parts from $110.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $109.91.
Advance Auto Parts Company 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.
Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAP).
Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.