Pinnacle Wealth Planning Services Inc. reduced its position in shares of Advance Auto Parts, Inc. (NYSE: PAA – Get a rating) by 5.6% during the first quarter, Holdings Channel.com reports. The company held 1,003 shares of the company after selling 60 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Advance Auto Parts were worth $208,000 when it was last filed with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently changed their holdings in the company. Profund Advisors LLC increased its stake in shares of Advance Auto Parts by 4.0% during the 4th quarter. Profund Advisors LLC now owns 1,324 shares of the company worth $318,000 after purchasing 51 additional shares during the period. Wetherby Asset Management Inc. increased its position in shares of Advance Auto Parts by 4.3% during the 4th quarter. Wetherby Asset Management Inc. now owns 1,331 shares of the company valued at $319,000 after buying 55 more shares last quarter. Benjamin Edwards Inc. increased its position in shares of Advance Auto Parts by 2.6% during the 4th quarter. Benjamin Edwards Inc. now owns 2,571 shares of the company valued at $617,000 after buying 64 more shares last quarter. National Asset Management Inc. increased its position in shares of Advance Auto Parts by 3.2% during the fourth quarter. National Asset Management Inc. now owns 2,102 shares of the company valued at $504,000 after buying 66 more shares last quarter. Finally, Allianz Asset Management GmbH increased its position in Advance Auto Parts shares by 1.3% during the 4th quarter. Allianz Asset Management GmbH now owns 5,195 shares of the company valued at $1,247,000 after buying 66 additional shares last quarter. 98.99% of the shares are currently held by institutional investors and hedge funds.
A number of research analysts have recently published reports on the company. Royal Bank of Canada reduced its target price on Advance Auto Parts from $247.00 to $217.00 in a Wednesday, May 25 research report. Wedbush reduced its target price on Advance Auto Parts from $270.00 to $215.00 and placed an “outperform” rating on the stock in a Tuesday, May 24 research report. Guggenheim lowered its price target on Advance Auto Parts from $266.00 to $259.00 and set a “buy” rating on the stock in a Wednesday, May 25 research report. Stephens cut his target price on Advance Auto Parts from $246.00 to $215.00 and set an “equal weight” rating on the stock in a Wednesday, May 25 research report. Finally, Wells Fargo & Company reduced its price target on Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating on the stock in a Tuesday, May 24 research report. Six equity research analysts gave the stock a hold rating, eleven issued a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, Advance Auto Parts has an average rating of “Moderate Buy” and a consensus price target of $242.17.
Shares of AAP opened at $173.64 on Monday. Advance Auto Parts, Inc. has a 52 week minimum of $164.00 and a 52 week maximum of $244.55. The company has a market capitalization of $10.53 billion, a PE ratio of 19.34, a growth price-earnings ratio of 1.01 and a beta of 1.21. The stock has a fifty-day simple moving average of $190.93 and a two-hundred-day simple moving average of $210.75. The company has a quick ratio of 0.25, a current ratio of 1.20 and a leverage ratio of 0.41.
Advance auto parts (NYSE: PAA – Get a rating) last released its results on Monday, May 23. The company reported earnings per share (EPS) of $3.57 for the quarter, missing analyst consensus estimates of $3.59 per ($0.02). Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The company posted revenue of $3.40 billion in the quarter, versus analyst estimates of $3.39 billion. During the same period last year, the company earned earnings per share of $3.34. The company’s revenue increased by 2.1% compared to the same quarter last year. As a group, stock analysts expect Advance Auto Parts, Inc. to post earnings per share of 13.68 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Friday, June 17 received a dividend of $1.50. This represents a dividend of $6.00 on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Thursday, June 16. Advance Auto Parts’ dividend payout ratio (DPR) is currently 66.82%.
Advanced Auto Parts Profile (Get a rating)
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 trucks. The company offers drum accessories; belts and pipes; brakes and brake pads; chassis and air conditioning 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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