Advance Auto Parts, Inc. (NYSE:AAP) Declares Quarterly Dividend of $0.25

Advance Auto Parts, Inc. (NYSE:AAP) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Friday, April 11th will be given a dividend of 0.25 per share on Friday, April 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, April 11th.

Advance Auto Parts has decreased its dividend payment by an average of 32.5% annually over the last three years. Advance Auto Parts has a dividend payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Advance Auto Parts to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 63.7%.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $36.96 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock has a market cap of $2.21 billion, a PE ratio of 50.62, a P/E/G ratio of 1.98 and a beta of 1.15. Advance Auto Parts has a 1 year low of $35.59 and a 1 year high of $88.56. The stock has a fifty day moving average price of $46.11 and a 200 day moving average price of $43.93.

Insider Buying and Selling

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AAP shares. BMO Capital Markets decreased their price objective on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research report on Thursday. Royal Bank of Canada lowered their price target on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday. Barclays cut their price objective on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. The Goldman Sachs Group dropped their price target on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, UBS Group upped their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $46.69.

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.