Coatue Management LLC bought a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,911 shares of the company’s stock, valued at approximately $415,000.
Other large investors have also bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec lifted its position in Advance Auto Parts by 88.0% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,780,229 shares of the company’s stock valued at $166,131,000 after buying an additional 833,349 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in Advance Auto Parts during the second quarter valued at approximately $70,655,000. Robeco Institutional Asset Management B.V. lifted its position in Advance Auto Parts by 55,906.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 477,174 shares of the company’s stock valued at $67,974,000 after buying an additional 476,322 shares in the last quarter. William Blair Investment Management LLC lifted its position in Advance Auto Parts by 43.2% during the second quarter. William Blair Investment Management LLC now owns 1,409,515 shares of the company’s stock valued at $200,785,000 after buying an additional 425,514 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in Advance Auto Parts by 108.9% during the first quarter. Diamond Hill Capital Management Inc. now owns 655,398 shares of the company’s stock valued at $61,162,000 after buying an additional 341,655 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.
A number of research analysts have weighed in on the stock. Credit Suisse Group lifted their price target on shares of Advance Auto Parts from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Oppenheimer reissued a “hold” rating on shares of Advance Auto Parts in a research report on Tuesday, May 19th. Royal Bank of Canada boosted their target price on shares of Advance Auto Parts from $155.00 to $170.00 in a research report on Thursday, August 13th. Zacks Investment Research raised shares of Advance Auto Parts from a “hold” rating to a “strong-buy” rating and set a $181.00 target price on the stock in a research report on Friday, August 21st. Finally, TheStreet raised shares of Advance Auto Parts from a “c+” rating to a “b” rating in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $152.29.
AAP stock traded down $1.43 during trading on Friday, hitting $153.75. The company had a trading volume of 589,124 shares, compared to its average volume of 944,152. The business has a 50 day moving average of $152.68 and a 200 day moving average of $131.89. The firm has a market capitalization of $10.63 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 1.79 and a beta of 1.35. The company has a current ratio of 1.44, a quick ratio of 0.46 and a debt-to-equity ratio of 0.33. Advance Auto Parts, Inc. has a fifty-two week low of $71.33 and a fifty-two week high of $171.43.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, August 18th. The company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.95. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.37 billion. Advance Auto Parts had a return on equity of 14.78% and a net margin of 4.71%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 EPS. As a group, equities analysts predict that Advance Auto Parts, Inc. will post 7.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.65%. Advance Auto Parts’s payout ratio is 12.21%.
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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