Nissay Asset Management Corp Japan ADV raised its position in Advance Auto Parts, Inc. (NYSE:AAP) by 10.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,716 shares of the company’s stock after purchasing an additional 662 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Advance Auto Parts were worth $957,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Heritage Wealth Advisors raised its stake in Advance Auto Parts by 100.0% during the first quarter. Heritage Wealth Advisors now owns 300 shares of the company’s stock worth $28,000 after acquiring an additional 150 shares during the period. Harwood Advisory Group LLC bought a new stake in Advance Auto Parts during the first quarter worth approximately $35,000. Eudaimonia Partners LLC purchased a new stake in shares of Advance Auto Parts in the 1st quarter valued at approximately $37,000. CSat Investment Advisory L.P. lifted its position in shares of Advance Auto Parts by 42.7% in the 1st quarter. CSat Investment Advisory L.P. now owns 521 shares of the company’s stock valued at $49,000 after acquiring an additional 156 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. purchased a new stake in shares of Advance Auto Parts in the 2nd quarter valued at approximately $71,000. 96.82% of the stock is owned by institutional investors.
NYSE AAP opened at $150.14 on Friday. The stock has a market capitalization of $10.37 billion, a PE ratio of 27.35, a P/E/G ratio of 2.16 and a beta of 1.32. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.36 and a quick ratio of 0.42. The business has a 50 day simple moving average of $142.60 and a two-hundred day simple moving average of $129.32. Advance Auto Parts, Inc. has a 1-year low of $71.33 and a 1-year high of $171.43.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, May 19th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.75 by ($0.84). Advance Auto Parts had a return on equity of 13.20% and a net margin of 4.10%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the business posted $2.46 earnings per share. Advance Auto Parts’s revenue was down 8.6% on a year-over-year basis. On average, analysts anticipate that Advance Auto Parts, Inc. will post 6.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Saturday, June 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Thursday, June 11th. Advance Auto Parts’s dividend payout ratio is currently 12.21%.
A number of research analysts have recently weighed in on AAP shares. Oppenheimer restated a “hold” rating on shares of Advance Auto Parts in a report on Tuesday, May 19th. Wedbush raised their price target on shares of Advance Auto Parts from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Bank of America raised their price objective on shares of Advance Auto Parts from $122.00 to $138.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Guggenheim raised their price objective on shares of Advance Auto Parts from $153.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Atlantic Securities downgraded shares of Advance Auto Parts from a “neutral” rating to an “underweight” rating and set a $118.00 price target for the company. in a report on Monday, June 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $144.05.
In related news, CAO Andrew E. Page sold 720 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $141.38, for a total transaction of $101,793.60. Following the completion of the sale, the chief accounting officer now directly owns 7,008 shares of the company’s stock, valued at approximately $990,791.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by company insiders.
About Advance Auto Parts
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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