AMG National Trust Bank Acquires 2,750 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

AMG National Trust Bank increased its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 12.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,307 shares of the company’s stock after purchasing an additional 2,750 shares during the period. AMG National Trust Bank’s holdings in Advance Auto Parts were worth $1,603,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Third Point LLC acquired a new stake in shares of Advance Auto Parts in the first quarter worth $127,234,000. UBS Group AG lifted its position in Advance Auto Parts by 337.7% during the 4th quarter. UBS Group AG now owns 811,734 shares of the company’s stock worth $49,540,000 after acquiring an additional 626,294 shares during the last quarter. Capital World Investors boosted its holdings in Advance Auto Parts by 67.0% during the first quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock valued at $130,522,000 after acquiring an additional 615,674 shares during the period. Norges Bank acquired a new stake in shares of Advance Auto Parts in the fourth quarter valued at about $37,522,000. Finally, Anchor Capital Advisors LLC bought a new position in shares of Advance Auto Parts in the first quarter worth about $34,332,000. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Stock Performance

AAP stock opened at $49.15 on Monday. The company has a 50 day moving average price of $60.93 and a 200 day moving average price of $68.62. Advance Auto Parts, Inc. has a fifty-two week low of $47.73 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 0.29. The stock has a market capitalization of $2.93 billion, a PE ratio of 71.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.22). The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The company’s revenue was down .1% compared to the same quarter last year. During the same period last year, the company earned $1.43 EPS. Analysts forecast that Advance Auto Parts, Inc. will post 3.7 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, October 11th. Advance Auto Parts’s dividend payout ratio (DPR) is 144.93%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AAP. UBS Group increased their target price on Advance Auto Parts from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Bank of America raised their price objective on shares of Advance Auto Parts from $51.00 to $55.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. Mizuho cut their target price on shares of Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating for the company in a research note on Monday, June 10th. Wells Fargo & Company restated a “hold” rating and issued a $60.00 price target on shares of Advance Auto Parts in a research report on Tuesday, August 20th. Finally, TD Cowen cut their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $60.08.

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.