Swiss National Bank Sells 8,000 Shares of Advance Auto Parts, Inc. (AAP)

Swiss National Bank lowered its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 3.3% during the third quarter, Holdings Channel reports. The fund owned 236,418 shares of the company’s stock after selling 8,000 shares during the period. Swiss National Bank’s holdings in Advance Auto Parts were worth $39,796,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AAP. JPMorgan Chase & Co. increased its position in shares of Advance Auto Parts by 892.6% in the third quarter. JPMorgan Chase & Co. now owns 430,256 shares of the company’s stock valued at $72,425,000 after acquiring an additional 386,910 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in shares of Advance Auto Parts in the second quarter valued at about $49,991,000. Boston Partners acquired a new stake in shares of Advance Auto Parts in the second quarter valued at about $40,706,000. Allen Investment Management LLC increased its position in shares of Advance Auto Parts by 52.1% in the second quarter. Allen Investment Management LLC now owns 790,508 shares of the company’s stock valued at $107,272,000 after acquiring an additional 270,641 shares during the last quarter. Finally, Smith Asset Management Group LP acquired a new stake in shares of Advance Auto Parts in the third quarter valued at about $41,266,000. 97.62% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Fiona P. Dias sold 1,048 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 11,693 shares in the company, valued at $2,075,975.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

A number of research firms recently issued reports on AAP. Zacks Investment Research downgraded Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Deutsche Bank set a $205.00 target price on Advance Auto Parts and gave the company a “buy” rating in a research report on Wednesday, November 14th. UBS Group lifted their target price on Advance Auto Parts from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, November 14th. Royal Bank of Canada lifted their target price on Advance Auto Parts to $170.00 and gave the company an “outperform” rating in a research report on Thursday, August 16th. Finally, Credit Suisse Group set a $195.00 target price on Advance Auto Parts and gave the company a “buy” rating in a research report on Wednesday, November 14th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $178.71.

Advance Auto Parts stock opened at $177.24 on Friday. Advance Auto Parts, Inc. has a 52 week low of $88.96 and a 52 week high of $186.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.62 and a quick ratio of 0.49. The stock has a market cap of $12.73 billion, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 2.04 and a beta of 1.04.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, November 13th. The company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.14. Advance Auto Parts had a return on equity of 13.99% and a net margin of 5.83%. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter last year, the company posted $1.43 earnings per share. Advance Auto Parts’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Advance Auto Parts, Inc. will post 7.09 EPS for the current year.

Advance Auto Parts announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 14th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the company to buy up to 5.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 21st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, December 20th. Advance Auto Parts’s dividend payout ratio is presently 4.47%.

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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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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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