Hosking Partners LLP Takes Position in Advance Auto Parts Inc (AAP)
Hosking Partners LLP bought a new position in shares of Advance Auto Parts Inc (NYSE:AAP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,707 shares of the company’s stock, valued at approximately $5,146,000.
Several other institutional investors have also modified their holdings of AAP. ING Groep NV increased its position in shares of Advance Auto Parts by 31.3% in the fourth quarter. ING Groep NV now owns 6,135 shares of the company’s stock worth $1,045,000 after buying an additional 1,463 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new position in shares of Advance Auto Parts during the third quarter worth approximately $2,428,000. Advantus Capital Management Inc raised its stake in Advance Auto Parts by 1.4% in the third quarter. Advantus Capital Management Inc now owns 7,389 shares of the company’s stock worth $1,102,000 after buying an additional 100 shares during the last quarter. Arrowgrass Capital Partners LLP purchased a new stake in Advance Auto Parts during the third quarter worth $4,996,000. Finally, Zuckerman Investment Group LLC purchased a new stake in Advance Auto Parts during the third quarter worth $9,385,000.
Shares of Advance Auto Parts Inc (AAP) traded down 0.75% during trading on Friday, hitting $130.16. 1,725,200 shares of the stock traded hands. The company has a market cap of $9.60 billion, a PE ratio of 23.58 and a beta of 0.80. The company has a 50 day moving average of $138.82 and a 200-day moving average of $154.83. Advance Auto Parts Inc has a 1-year low of $123.49 and a 1-year high of $177.83.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by $0.60. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.51 earnings per share. On average, equities analysts anticipate that Advance Auto Parts Inc will post $6.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 23rd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Wednesday, June 21st. Advance Auto Parts’s dividend payout ratio (DPR) is currently 4.36%.
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A number of equities research analysts recently weighed in on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Advance Auto Parts in a report on Wednesday, May 24th. Wedbush reissued an “outperform” rating and set a $185.00 price objective on shares of Advance Auto Parts in a report on Wednesday, March 15th. Barclays PLC raised their price objective on shares of Advance Auto Parts from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Wednesday, February 22nd. BTIG Research reissued a “sell” rating and set a $120.00 price objective on shares of Advance Auto Parts in a report on Tuesday, March 28th. Finally, Royal Bank of Canada decreased their price objective on shares of Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating for the company in a report on Tuesday, May 2nd. Five research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $163.15.
In related news, SVP William Harrison Carter sold 2,690 shares of Advance Auto Parts stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $152.83, for a total value of $411,112.70. Following the transaction, the senior vice president now directly owns 17,155 shares of the company’s stock, valued at $2,621,798.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Adriana Karaboutis acquired 367 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was bought at an average cost of $135.28 per share, for a total transaction of $49,647.76. Following the completion of the purchase, the director now owns 3,043 shares of the company’s stock, valued at $411,657.04. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 369,462 shares of company stock worth $49,617,073. Company insiders own 4.50% of the company’s stock.
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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