Legal & General Group Plc Purchases 18,209 Shares of Advance Auto Parts Inc (AAP)
Legal & General Group Plc boosted its position in Advance Auto Parts Inc (NYSE:AAP) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 358,722 shares of the company’s stock after buying an additional 18,209 shares during the period. Legal & General Group Plc owned approximately 0.49% of Advance Auto Parts worth $41,825,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares during the period. Huntington National Bank boosted its stake in shares of Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after buying an additional 283 shares during the period. Global X Management Co. LLC boosted its stake in shares of Advance Auto Parts by 14.3% in the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock worth $130,000 after buying an additional 139 shares during the period. Van ECK Associates Corp boosted its stake in shares of Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock worth $143,000 after buying an additional 67 shares during the period. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Advance Auto Parts during the first quarter worth $148,000.
Advance Auto Parts Inc (AAP) opened at 95.12 on Wednesday. The stock has a 50 day moving average price of $102.99 and a 200 day moving average price of $132.88. Advance Auto Parts Inc has a 52 week low of $82.21 and a 52 week high of $177.83. The stock has a market capitalization of $7.02 billion, a PE ratio of 18.99 and a beta of 0.87.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by $0.07. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business posted $1.90 earnings per share. Equities analysts forecast that Advance Auto Parts Inc will post $5.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be paid a $0.06 dividend. The ex-dividend date is Thursday, September 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. Advance Auto Parts’s dividend payout ratio (DPR) is 4.80%.
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AAP has been the subject of a number of analyst reports. Bank of America Corporation decreased their price objective on Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a research note on Thursday, May 25th. Morgan Stanley restated an “overweight” rating and set a $160.00 price objective (down from $185.00) on shares of Advance Auto Parts in a research note on Sunday, May 28th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday, May 31st. BTIG Research restated a “sell” rating and set a $109.00 price objective (down from $120.00) on shares of Advance Auto Parts in a research note on Thursday, June 22nd. Finally, Royal Bank Of Canada decreased their price objective on Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating for the company in a research note on Tuesday, May 2nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $126.68.
In other Advance Auto Parts news, Director Adriana Karaboutis bought 367 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were purchased at an average price of $135.28 per share, with a total value of $49,647.76. Following the completion of the acquisition, the director now directly owns 3,043 shares of the company’s stock, valued at approximately $411,657.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is currently owned by company insiders.
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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