State of Alaska Department of Revenue Decreases Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

State of Alaska Department of Revenue reduced its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 6.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 25,104 shares of the company’s stock after selling 1,725 shares during the period. State of Alaska Department of Revenue’s holdings in Advance Auto Parts were worth $5,195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AAP. GW&K Investment Management LLC purchased a new stake in Advance Auto Parts during the fourth quarter worth approximately $44,758,000. Qube Research & Technologies Ltd grew its stake in Advance Auto Parts by 11,925.5% during the fourth quarter. Qube Research & Technologies Ltd now owns 153,445 shares of the company’s stock worth $36,808,000 after buying an additional 152,169 shares during the period. Mane Global Capital Management LP purchased a new stake in Advance Auto Parts during the fourth quarter worth approximately $29,680,000. Invesco Ltd. grew its stake in Advance Auto Parts by 15.0% during the fourth quarter. Invesco Ltd. now owns 919,397 shares of the company’s stock worth $220,546,000 after buying an additional 119,664 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Advance Auto Parts in the fourth quarter valued at $26,025,000. Institutional investors own 98.99% of the company’s stock.

Several research analysts have recently weighed in on the stock. MKM Partners assumed coverage on shares of Advance Auto Parts in a research note on Thursday, June 23rd. They issued a “buy” rating and a $195.00 target price for the company. UBS Group reduced their price objective on shares of Advance Auto Parts to $250.00 in a research note on Wednesday, May 25th. Wells Fargo & Company reduced their price objective on shares of Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 24th. Morgan Stanley reduced their price objective on shares of Advance Auto Parts from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 24th. Finally, Wedbush reduced their price objective on shares of Advance Auto Parts from $270.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 24th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $242.17.

AAP stock opened at $183.63 on Tuesday. The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 0.41. Advance Auto Parts, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $244.55. The firm’s 50-day simple moving average is $194.78 and its 200 day simple moving average is $212.48. The stock has a market cap of $11.14 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.23.

Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings data on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.02). Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the business earned $3.34 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Advance Auto Parts, Inc. will post 13.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.27%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 66.82%.

Advance Auto Parts Profile (Get Rating)

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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