TIAA CREF Investment Management LLC boosted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 99.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,227 shares of the company’s stock after acquiring an additional 191,118 shares during the period. TIAA CREF Investment Management LLC owned 0.52% of Advance Auto Parts worth $38,304,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in Advance Auto Parts by 71.6% during the 4th quarter. Assetmark Inc. now owns 1,488 shares of the company’s stock worth $148,000 after acquiring an additional 621 shares during the last quarter. Advisor Partners LLC acquired a new position in Advance Auto Parts during the 4th quarter worth $208,000. FDx Advisors Inc. acquired a new position in Advance Auto Parts during the 3rd quarter worth $201,000. Quantitative Systematic Strategies LLC acquired a new position in Advance Auto Parts during the 4th quarter worth $207,000. Finally, IFM Investors Pty Ltd acquired a new position in Advance Auto Parts during the 4th quarter worth $207,000.
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Advance Auto Parts from $110.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Zacks Investment Research lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Wedbush reissued a “buy” rating and set a $130.00 target price (up previously from $115.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Stephens set a $108.00 target price on shares of Advance Auto Parts and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Finally, Robert W. Baird reissued a “neutral” rating and set a $125.00 target price (up previously from $100.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $112.14.
AAP stock opened at $110.84 on Friday. The stock has a market cap of $8,264.10, a PE ratio of 17.26, a PEG ratio of 1.35 and a beta of 1.12. Advance Auto Parts, Inc. has a twelve month low of $78.81 and a twelve month high of $151.72. The company has a current ratio of 1.56, a quick ratio of 0.36 and a debt-to-equity ratio of 0.31.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.12. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Advance Auto Parts had a net margin of 5.07% and a return on equity of 12.45%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 earnings per share. equities research analysts forecast that Advance Auto Parts, Inc. will post 6.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Friday, March 23rd will be paid a $0.06 dividend. The ex-dividend date is Thursday, March 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Advance Auto Parts’s payout ratio is currently 3.74%.
Advance Auto Parts Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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