LaSalle Street Capital Management LLC lessened its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 31.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,230 shares of the company’s stock after selling 2,413 shares during the quarter. LaSalle Street Capital Management LLC’s holdings in Advance Auto Parts were worth $880,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Advance Auto Parts by 3.7% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,578 shares of the company’s stock worth $2,928,000 after acquiring an additional 779 shares in the last quarter. Putnam Investments LLC increased its holdings in Advance Auto Parts by 12.0% in the 2nd quarter. Putnam Investments LLC now owns 181,457 shares of the company’s stock worth $24,623,000 after acquiring an additional 19,492 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Advance Auto Parts by 12.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,091,006 shares of the company’s stock worth $148,049,000 after acquiring an additional 116,655 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Advance Auto Parts in the 2nd quarter worth $116,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Advance Auto Parts by 3.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,065 shares of the company’s stock worth $1,909,000 after acquiring an additional 532 shares in the last quarter.

Shares of AAP opened at $177.30 on Thursday. Advance Auto Parts, Inc. has a 52-week low of $88.24 and a 52-week high of $186.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.48 and a current ratio of 1.63. The firm has a market cap of $12.38 billion, a price-to-earnings ratio of 33.02, a price-to-earnings-growth ratio of 1.94 and a beta of 1.04.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, November 13th. The company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.14. Advance Auto Parts had a net margin of 5.68% and a return on equity of 13.43%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the company posted $1.43 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts forecast that Advance Auto Parts, Inc. will post 6.98 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 21st will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 20th. This represents a $0.24 annualized dividend and a yield of 0.14%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.47%.

Advance Auto Parts declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 14th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Several equities research analysts recently commented on the stock. Citigroup boosted their price target on shares of Advance Auto Parts from $155.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday. UBS Group boosted their price target on shares of Advance Auto Parts from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Advance Auto Parts from $220.00 to $222.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America boosted their price target on shares of Advance Auto Parts from $177.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Deutsche Bank set a $205.00 price target on shares of Advance Auto Parts and gave the stock a “buy” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Advance Auto Parts presently has an average rating of “Buy” and an average target price of $174.06.

In other Advance Auto Parts news, Director Nigel Travis bought 1,250 shares of the stock in a transaction on Friday, August 17th. The shares were bought at an average price of $159.70 per share, with a total value of $199,625.00. Following the purchase, the director now directly owns 1,250 shares in the company, valued at approximately $199,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.50% of the company’s stock.

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Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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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