American Century Companies Inc. Purchases 63,031 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

American Century Companies Inc. lifted its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 59.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 169,557 shares of the company’s stock after purchasing an additional 63,031 shares during the period. American Century Companies Inc. owned 0.28% of Advance Auto Parts worth $10,738,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AAP. Principal Securities Inc. acquired a new position in Advance Auto Parts during the 4th quarter valued at $27,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Advance Auto Parts by 19.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,741 shares of the company’s stock worth $411,000 after purchasing an additional 1,086 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Advance Auto Parts by 50.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,624 shares of the company’s stock valued at $1,503,000 after buying an additional 8,213 shares during the last quarter. Norges Bank bought a new stake in shares of Advance Auto Parts in the fourth quarter valued at about $37,522,000. Finally, US Bancorp DE grew its position in Advance Auto Parts by 437.6% during the fourth quarter. US Bancorp DE now owns 11,570 shares of the company’s stock worth $706,000 after buying an additional 9,418 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Wall Street Analyst Weigh In

AAP has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 16th. UBS Group raised their target price on Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Royal Bank of Canada lowered their price target on shares of Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating on the stock in a report on Thursday, May 30th. Wedbush reaffirmed a “neutral” rating and set a $55.00 price objective (down from $65.00) on shares of Advance Auto Parts in a report on Friday, August 23rd. Finally, TD Cowen lowered their target price on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and a consensus price target of $56.54.

Advance Auto Parts Trading Down 3.4 %

AAP stock opened at $40.99 on Monday. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a twelve month low of $37.51 and a twelve month high of $88.56. The company has a market cap of $2.44 billion, a P/E ratio of 59.41, a PEG ratio of 1.26 and a beta of 1.17. The business has a fifty day moving average of $53.15 and a 200-day moving average of $65.44.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.22). The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 earnings per share. As a group, equities research analysts expect that Advance Auto Parts, Inc. will post 2.19 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. Advance Auto Parts’s payout ratio is presently 144.93%.

About Advance Auto Parts

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.