Franklin Resources Inc. grew its position in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 260.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,610 shares of the company’s stock after purchasing an additional 17,059 shares during the period. Franklin Resources Inc.’s holdings in Advance Auto Parts were worth $3,471,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd grew its position in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares during the last quarter. General Partner Inc. acquired a new stake in Advance Auto Parts during the fourth quarter worth approximately $44,000. Silvant Capital Management LLC acquired a new stake in Advance Auto Parts during the fourth quarter worth approximately $50,000. Seaport Global Advisors LLC grew its position in Advance Auto Parts by 53.2% during the third quarter. Seaport Global Advisors LLC now owns 461 shares of the company’s stock worth $72,000 after buying an additional 160 shares in the last quarter. Finally, Ronald Blue Trust Inc. grew its position in Advance Auto Parts by 256.7% during the fourth quarter. Ronald Blue Trust Inc. now owns 824 shares of the company’s stock worth $129,000 after buying an additional 593 shares in the last quarter. Institutional investors and hedge funds own 96.04% of the company’s stock.
Advance Auto Parts Price Performance
AAP stock opened at $67.56 on Friday. The company has a market capitalization of $4.00 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 0.55 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.21 and a current ratio of 1.24. Advance Auto Parts, Inc. has a 52-week low of $66.27 and a 52-week high of $212.25. The business has a 50-day simple moving average of $118.32 and a two-hundred day simple moving average of $134.92.
Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings results on Wednesday, May 31st. The company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.60 by ($1.88). Advance Auto Parts had a net margin of 3.61% and a return on equity of 22.67%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the firm posted $3.57 EPS. Research analysts expect that Advance Auto Parts, Inc. will post 10.8 EPS for the current fiscal year.
Advance Auto Parts Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, July 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.48%. Advance Auto Parts’s dividend payout ratio is currently 89.15%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on AAP. StockNews.com downgraded Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Thursday. Evercore ISI reduced their price target on Advance Auto Parts from $145.00 to $80.00 in a research report on Thursday. Argus downgraded Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Monday, March 13th. Bank of America downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating and reduced their target price for the company from $178.00 to $85.00 in a report on Thursday. Finally, Royal Bank of Canada reduced their target price on Advance Auto Parts from $158.00 to $84.00 in a report on Thursday. Seventeen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $104.42.
About Advance Auto Parts
Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.
Read More
Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAP – Get Rating).
Receive News & Ratings for Advance Auto Parts Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Advance Auto Parts and related companies with MarketBeat.com’s FREE daily email newsletter.