NINE MASTS CAPITAL Ltd acquired a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the third quarter, HoldingsChannel reports. The fund acquired 972 shares of the company’s stock, valued at approximately $164,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Advance Auto Parts by 2.1% during the first quarter. Principal Financial Group Inc. now owns 111,312 shares of the company’s stock valued at $13,196,000 after purchasing an additional 2,294 shares during the period. Piedmont Investment Advisors LLC bought a new position in Advance Auto Parts during the second quarter valued at approximately $116,000. Aperio Group LLC lifted its position in Advance Auto Parts by 6.2% during the second quarter. Aperio Group LLC now owns 45,594 shares of the company’s stock valued at $6,187,000 after purchasing an additional 2,672 shares during the period. Commonwealth Equity Services LLC lifted its position in Advance Auto Parts by 3.7% during the second quarter. Commonwealth Equity Services LLC now owns 24,787 shares of the company’s stock valued at $3,364,000 after purchasing an additional 875 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Advance Auto Parts by 6.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 227,076 shares of the company’s stock valued at $30,814,000 after purchasing an additional 13,775 shares during the period. 97.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE AAP opened at $167.59 on Friday. 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 firm has a market capitalization of $12.81 billion, a PE ratio of 26.12, a PEG ratio of 2.05 and a beta of 1.06. Advance Auto Parts, Inc. has a 1 year low of $97.38 and a 1 year high of $186.15.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, November 13th. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.14. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Advance Auto Parts had a net margin of 5.83% and a return on equity of 13.99%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 earnings per share. As a group, research analysts predict that Advance Auto Parts, Inc. will post 7.11 earnings per share for the current fiscal year.

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 paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.14%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.47%.

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

Several research firms have weighed in on AAP. Zacks Investment Research upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a research report on Thursday. Citigroup increased their price target on shares of Advance Auto Parts from $155.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 14th. UBS Group increased their price target on shares of Advance Auto Parts from $190.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, November 14th. JPMorgan Chase & Co. increased their price target on shares of Advance Auto Parts from $220.00 to $222.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 14th. Finally, Bank of America increased their price target on shares of Advance Auto Parts from $177.00 to $200.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 14th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Advance Auto Parts has a consensus rating of “Buy” and an average price target of $178.76.

In other news, Director Fiona P. Dias sold 1,048 shares of the stock in a transaction on Friday, November 16th. The shares were sold at an average price of $177.54, for a total value of $186,061.92. Following the completion of the sale, the director now directly owns 11,693 shares of the company’s stock, valued at $2,075,975.22. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.

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Advance Auto Parts 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.

Further Reading: What is an SEC Filing?

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

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