Lake Street Financial LLC Acquires New Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Lake Street Financial LLC acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,136 shares of the company’s stock, valued at approximately $649,000.

Other large investors have also recently added to or reduced their stakes in the company. Xponance Inc. boosted its position in shares of Advance Auto Parts by 2.6% in the first quarter. Xponance Inc. now owns 4,413 shares of the company’s stock worth $913,000 after acquiring an additional 111 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in Advance Auto Parts by 6.4% in the first quarter. IFM Investors Pty Ltd now owns 9,218 shares of the company’s stock valued at $1,908,000 after buying an additional 558 shares during the period. OPSEU Pension Plan Trust Fund raised its holdings in Advance Auto Parts by 23.2% in the fourth quarter. OPSEU Pension Plan Trust Fund now owns 5,253 shares of the company’s stock valued at $1,254,000 after buying an additional 990 shares during the period. Fifth Third Bancorp raised its stake in shares of Advance Auto Parts by 3.4% during the first quarter. Fifth Third Bancorp now owns 33,166 shares of the company’s stock valued at $6,864,000 after purchasing an additional 1,094 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Advance Auto Parts during the fourth quarter valued at approximately $1,260,000. 98.99% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $193.42 on Friday. Advance Auto Parts, Inc. has a 12-month low of $164.00 and a 12-month high of $244.55. The business’s 50-day simple moving average is $183.69 and its 200 day simple moving average is $202.69. The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 0.41. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 1.11 and a beta of 1.22.

Advance Auto Parts (NYSE:AAP – Get Rating) last released its earnings results on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.53 by $0.04. 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 for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the firm posted $3.34 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts anticipate that Advance Auto Parts, Inc. will post 13.68 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 17th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.10%. The ex-dividend date was Thursday, June 16th. Advance Auto Parts’s payout ratio is 66.82%.

Analyst Ratings Changes

AAP has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on shares of Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 24th. Guggenheim reduced their price target on shares of Advance Auto Parts from $266.00 to $259.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Morgan Stanley reduced their price target on shares of Advance Auto Parts from $240.00 to $225.00 and set an “equal weight” rating for the company in a report on Tuesday, May 24th. StockNews.com cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Wedbush dropped their price target on shares of Advance Auto Parts from $270.00 to $215.00 and set an “outperform” rating on the stock in a research report 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $242.17.

About Advance Auto Parts

(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.