Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 280,865 shares of the company’s stock after selling 11,754 shares during the period. Principal Financial Group Inc. owned about 0.47% of Advance Auto Parts worth $10,951,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BW Gestao de Investimentos Ltda. acquired a new stake in Advance Auto Parts in the second quarter valued at approximately $7,916,000. Renaissance Technologies LLC grew its holdings in Advance Auto Parts by 26.9% in the second quarter. Renaissance Technologies LLC now owns 185,450 shares of the company’s stock valued at $11,745,000 after purchasing an additional 39,300 shares during the period. International Assets Investment Management LLC acquired a new stake in Advance Auto Parts in the third quarter valued at approximately $17,477,000. AQR Capital Management LLC grew its holdings in Advance Auto Parts by 31.0% in the second quarter. AQR Capital Management LLC now owns 233,521 shares of the company’s stock valued at $14,740,000 after purchasing an additional 55,226 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new stake in Advance Auto Parts in the third quarter valued at approximately $3,304,000. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock opened at $37.69 on Monday. Advance Auto Parts, Inc. has a one year low of $35.59 and a one year high of $88.56. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 51.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.34. The business’s 50 day moving average price is $39.02 and its 200 day moving average price is $54.11.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the business posted ($0.82) EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts predict that Advance Auto Parts, Inc. will post 2.26 EPS for the current year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts’s payout ratio is 136.99%.

Analyst Upgrades and Downgrades

Several analysts have commented on AAP shares. TD Cowen dropped their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. UBS Group raised their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $38.00 price target (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and an average price target of $49.14.

Advance Auto Parts Profile

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.