Northern Trust Corp cut its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 861,702 shares of the company’s stock after selling 4,787 shares during the quarter. Northern Trust Corp’s holdings in Advance Auto Parts were worth $146,947,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nelson Roberts Investment Advisors LLC purchased a new stake in Advance Auto Parts during the first quarter worth approximately $40,000. Pinnacle Financial Partners Inc. purchased a new stake in Advance Auto Parts during the first quarter worth approximately $43,000. Whittier Trust Co. of Nevada Inc. grew its stake in Advance Auto Parts by 38.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 329 shares of the company’s stock worth $52,000 after buying an additional 91 shares during the period. Zions Bancorporation N.A. grew its stake in Advance Auto Parts by 258.9% during the first quarter. Zions Bancorporation N.A. now owns 402 shares of the company’s stock worth $69,000 after buying an additional 290 shares during the period. Finally, Enlightenment Research LLC purchased a new stake in Advance Auto Parts during the fourth quarter worth approximately $79,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

A number of research firms have recently commented on AAP. Zacks Investment Research cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Wells Fargo & Co reissued a “hold” rating and set a $175.00 target price on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Credit Suisse Group reissued a “buy” rating and set a $195.00 target price on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Jefferies Financial Group reduced their target price on shares of Advance Auto Parts to $195.00 and set a “buy” rating on the stock in a research report on Wednesday, February 20th. Finally, Evercore ISI began coverage on shares of Advance Auto Parts in a research report on Wednesday, March 20th. They set an “outperform” rating and a $185.00 target price on the stock. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $190.71.

AAP traded down $2.84 on Wednesday, reaching $149.33. The company had a trading volume of 14,875 shares, compared to its average volume of 1,211,621. The firm has a market capitalization of $11.01 billion, a PE ratio of 20.92, a P/E/G ratio of 1.63 and a beta of 0.97. The company has a quick ratio of 0.31, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. Advance Auto Parts, Inc. has a one year low of $131.49 and a one year high of $186.15.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Wednesday, May 22nd. The company reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.10. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.94 billion. Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. Advance Auto Parts’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 EPS. On average, equities analysts expect that Advance Auto Parts, Inc. will post 8.22 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be given a $0.06 dividend. The ex-dividend date is Thursday, June 20th. This represents a $0.24 dividend on an annualized basis and a yield of 0.16%. Advance Auto Parts’s dividend payout ratio is presently 3.37%.

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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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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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