Norinchukin Bank The boosted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 13.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,530 shares of the company’s stock after buying an additional 1,143 shares during the period. Norinchukin Bank The’s holdings in Advance Auto Parts were worth $1,604,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Piedmont Investment Advisors LLC purchased a new position in Advance Auto Parts during the 2nd quarter worth $116,000. Tower Research Capital LLC TRC purchased a new position in Advance Auto Parts during the 2nd quarter worth $117,000. Federated Investors Inc. PA purchased a new position in Advance Auto Parts during the 2nd quarter worth $124,000. ClariVest Asset Management LLC purchased a new position in Advance Auto Parts during the 3rd quarter worth $173,000. Finally, First Mercantile Trust Co. purchased a new position in Advance Auto Parts during the 2nd quarter worth $162,000. 97.62% of the stock is owned by institutional investors.
Shares of NYSE AAP opened at $174.67 on Friday. The company has a current ratio of 1.62, a quick ratio of 0.49 and a debt-to-equity ratio of 0.29. The firm has a market cap of $12.73 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 2.04 and a beta of 1.04. Advance Auto Parts, Inc. has a 12-month low of $88.82 and a 12-month high of $186.15.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 21st will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, December 20th. This represents a $0.24 annualized dividend and a yield of 0.14%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.47%.
Advance Auto Parts announced that its board has authorized a share buyback program on Tuesday, August 14th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the company to buy up to 5.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several research firms have commented on AAP. Zacks Investment Research downgraded Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Friday, November 16th. Deutsche Bank set a $205.00 price objective on Advance Auto Parts and gave the stock a “buy” rating in a report on Wednesday, November 14th. UBS Group raised their price objective on Advance Auto Parts from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, November 14th. Royal Bank of Canada raised their price objective on Advance Auto Parts to $170.00 and gave the stock an “outperform” rating in a report on Thursday, August 16th. Finally, Credit Suisse Group set a $195.00 price objective on Advance Auto Parts and gave the stock a “buy” rating in a report on Wednesday, November 14th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $178.71.
In other Advance Auto Parts news, Director Fiona P. Dias sold 1,048 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $177.54, for a total transaction of $186,061.92. Following the sale, the director now owns 11,693 shares of the company’s stock, valued at approximately $2,075,975.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by company insiders.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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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