Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,716 shares of the company’s stock after buying an additional 662 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Advance Auto Parts were worth $957,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Arden Trust Co grew its holdings in Advance Auto Parts by 2.6% during the 1st quarter. Arden Trust Co now owns 3,877 shares of the company’s stock valued at $362,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Advance Auto Parts by 3.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 3,000 shares of the company’s stock worth $427,000 after purchasing an additional 100 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Advance Auto Parts by 4.1% in the 2nd quarter. Trust Co. of Vermont now owns 2,665 shares of the company’s stock worth $380,000 after purchasing an additional 105 shares during the period. Signaturefd LLC boosted its holdings in shares of Advance Auto Parts by 8.4% in the 1st quarter. Signaturefd LLC now owns 1,462 shares of the company’s stock worth $136,000 after purchasing an additional 113 shares during the period. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Advance Auto Parts by 1.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 9,430 shares of the company’s stock worth $880,000 after purchasing an additional 119 shares during the period. 96.82% of the stock is currently owned by institutional investors.
In related news, CAO Andrew E. Page sold 720 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $141.38, for a total transaction of $101,793.60. Following the transaction, the chief accounting officer now directly owns 7,008 shares in the company, valued at approximately $990,791.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 4.10% of the company’s stock.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, May 19th. The company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.75 by ($0.84). The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. Advance Auto Parts had a return on equity of 13.20% and a net margin of 4.10%. The company’s revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 earnings per share. On average, equities research analysts forecast that Advance Auto Parts, Inc. will post 6.45 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Saturday, June 13th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, June 11th. Advance Auto Parts’s payout ratio is 12.21%.
A number of equities analysts have recently commented on the company. Nomura Instinet lifted their target price on Advance Auto Parts from $107.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Nomura lifted their target price on Advance Auto Parts from $107.00 to $130.00 in a report on Wednesday, May 20th. Atlantic Securities cut Advance Auto Parts from a “neutral” rating to an “underweight” rating and set a $118.00 target price for the company. in a report on Monday, June 15th. Jefferies Financial Group raised their price target on Advance Auto Parts from $151.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Finally, Royal Bank of Canada raised their price target on Advance Auto Parts from $136.00 to $155.00 in a research note on Wednesday, May 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $144.05.
About Advance Auto Parts
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.
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