OppenheimerFunds Inc. raised its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,969 shares of the company’s stock after purchasing an additional 995 shares during the period. OppenheimerFunds Inc.’s holdings in Advance Auto Parts were worth $1,393,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. FDx Advisors Inc. acquired a new position in Advance Auto Parts during the third quarter worth approximately $201,000. IFM Investors Pty Ltd acquired a new stake in shares of Advance Auto Parts in the fourth quarter worth $207,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Advance Auto Parts in the fourth quarter worth $207,000. Advisor Partners LLC acquired a new stake in shares of Advance Auto Parts in the fourth quarter worth $208,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Advance Auto Parts in the fourth quarter worth $213,000.
In other Advance Auto Parts news, EVP Tammy M. Finley sold 342 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $116.35, for a total transaction of $39,791.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Brouillard sold 1,745 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $116.08, for a total transaction of $202,559.60. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.12. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. Advance Auto Parts had a net margin of 5.07% and a return on equity of 12.45%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. analysts anticipate that Advance Auto Parts, Inc. will post 6.71 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Stockholders 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 annualized dividend and a dividend yield of 0.21%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 3.74%.
Several equities research analysts have recently issued reports on AAP shares. JPMorgan Chase & Co. increased their price objective 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. Argus reissued a “buy” rating and issued a $114.00 price objective (down previously from $135.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Morgan Stanley set a $120.00 price objective on shares of Advance Auto Parts and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Royal Bank of Canada increased their price objective on shares of Advance Auto Parts from $100.00 to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 15th. Finally, Citigroup increased their price objective on shares of Advance Auto Parts from $82.00 to $85.00 and gave the stock a “sell” rating in a research report on Wednesday, November 15th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $112.14.
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Advance Auto Parts Company 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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