Signaturefd LLC lifted its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 362.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,305 shares of the company’s stock after buying an additional 1,023 shares during the quarter. Signaturefd LLC’s holdings in Advance Auto Parts were worth $177,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in AAP. Piedmont Investment Advisors LLC acquired a new position in shares of Advance Auto Parts during the 2nd quarter worth about $116,000. Federated Investors Inc. PA acquired a new position in shares of Advance Auto Parts in the 2nd quarter valued at approximately $124,000. Stratos Wealth Partners LTD. grew its position in shares of Advance Auto Parts by 1,148.4% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,186 shares of the company’s stock valued at $141,000 after purchasing an additional 1,091 shares during the period. First Mercantile Trust Co. acquired a new position in shares of Advance Auto Parts in the 2nd quarter valued at approximately $162,000. Finally, Cerebellum GP LLC acquired a new position in shares of Advance Auto Parts in the 2nd quarter valued at approximately $182,000.
In other Advance Auto Parts news, Director Nigel Travis bought 1,250 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was acquired at an average price of $159.70 per share, with a total value of $199,625.00. Following the completion of the purchase, the director now directly owns 1,250 shares of the company’s stock, valued at approximately $199,625. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is owned by company insiders.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 14th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.86 by $0.11. Advance Auto Parts had a return on equity of 13.43% and a net margin of 5.68%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company earned $1.48 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts expect that Advance Auto Parts, Inc. will post 6.96 earnings per share for the current fiscal year.
Advance Auto Parts declared that its board has authorized a share buyback plan on Tuesday, August 14th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Friday, September 21st were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.14%. Advance Auto Parts’s dividend payout ratio (DPR) is 4.47%.
AAP has been the topic of several research reports. Zacks Investment Research upgraded Advance Auto Parts from a “hold” rating to a “buy” rating and set a $164.00 price objective on the stock in a research note on Thursday, August 9th. Argus set a $155.00 target price on Advance Auto Parts and gave the stock a “buy” rating in a report on Friday, July 6th. ValuEngine raised Advance Auto Parts from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. UBS Group reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Advance Auto Parts in a report on Friday, June 22nd. Finally, Guggenheim set a $156.00 price objective on Advance Auto Parts and gave the company a “buy” rating in a report on Friday, July 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $148.53.
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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