Arizona State Retirement System Increases Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Arizona State Retirement System raised its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,687 shares of the company’s stock after buying an additional 334 shares during the period. Arizona State Retirement System’s holdings in Advance Auto Parts were worth $1,057,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Advance Auto Parts by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,998,910 shares of the company’s stock valued at $340,268,000 after buying an additional 40,669 shares during the period. Capital World Investors boosted its position in Advance Auto Parts by 67.0% during the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock valued at $130,522,000 after buying an additional 615,674 shares during the period. Third Point LLC purchased a new stake in Advance Auto Parts during the 1st quarter valued at $127,234,000. Jacobs Levy Equity Management Inc. boosted its position in Advance Auto Parts by 3.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,014,639 shares of the company’s stock valued at $86,336,000 after buying an additional 32,426 shares during the period. Finally, UBS Group AG raised its holdings in Advance Auto Parts by 337.7% in the 4th quarter. UBS Group AG now owns 811,734 shares of the company’s stock worth $49,540,000 after purchasing an additional 626,294 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Up 5.0 %

NYSE:AAP opened at $41.45 on Friday. The firm has a market cap of $2.47 billion, a P/E ratio of 60.07, a P/E/G ratio of 1.26 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. Advance Auto Parts, Inc. has a fifty-two week low of $37.51 and a fifty-two week high of $88.56. The firm has a 50-day simple moving average of $55.34 and a two-hundred day simple moving average of $66.57.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 earnings per share. Analysts predict that Advance Auto Parts, Inc. will post 2.19 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. Advance Auto Parts’s dividend payout ratio is currently 144.93%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI decreased their price objective on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Wells Fargo & Company decreased their price objective on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday. UBS Group upped their price objective on shares of Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Finally, Royal Bank of Canada decreased their price objective on shares of Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating for the company in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $56.54.

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.