Ameriprise Financial Inc. cut its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 25.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 72,722 shares of the company’s stock after selling 25,001 shares during the period. Ameriprise Financial Inc. owned about 0.10% of Advance Auto Parts worth $7,215,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Legal & General Group Plc grew its holdings in shares of Advance Auto Parts by 5.3% in the second quarter. Legal & General Group Plc now owns 358,722 shares of the company’s stock valued at $41,825,000 after purchasing an additional 18,209 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Advance Auto Parts by 78.0% in the second quarter. Wells Fargo & Company MN now owns 884,760 shares of the company’s stock valued at $103,155,000 after purchasing an additional 387,673 shares during the period. Tobam purchased a new stake in shares of Advance Auto Parts in the second quarter valued at about $118,000. Vanguard Group Inc. grew its holdings in shares of Advance Auto Parts by 2.7% in the second quarter. Vanguard Group Inc. now owns 6,966,176 shares of the company’s stock valued at $812,186,000 after purchasing an additional 185,970 shares during the period. Finally, ARGA Investment Management LP grew its holdings in shares of Advance Auto Parts by 89.0% in the second quarter. ARGA Investment Management LP now owns 53,300 shares of the company’s stock valued at $6,214,000 after purchasing an additional 25,100 shares during the period.

Several research analysts have weighed in on AAP shares. Morgan Stanley set a $120.00 target price on shares of Advance Auto Parts and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Moffett Nathanson started coverage on shares of Advance Auto Parts in a research note on Monday, December 4th. They set a “neutral” rating for the company. Jefferies Group lowered their target price on shares of Advance Auto Parts from $130.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. Citigroup increased their target price on shares of Advance Auto Parts from $82.00 to $85.00 and gave the stock a “sell” rating in a research note on Wednesday, November 15th. Finally, Royal Bank of Canada raised their price objective on shares of Advance Auto Parts from $100.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, November 15th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. Advance Auto Parts has a consensus rating of “Hold” and a consensus target price of $106.32.

Shares of Advance Auto Parts, Inc. (NYSE AAP) opened at $100.55 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 0.32 and a debt-to-equity ratio of 0.32. Advance Auto Parts, Inc. has a 1-year low of $78.81 and a 1-year high of $177.50. The firm has a market cap of $7,430.45, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.18. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.21 billion. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. sell-side analysts expect that Advance Auto Parts, Inc. will post 5.22 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be given a $0.06 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.24%. Advance Auto Parts’s dividend payout ratio (DPR) is 5.03%.

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About Advance Auto Parts

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

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