Korea Investment CORP Has $39.46 Million Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Korea Investment CORP trimmed its position in shares of Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 44.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 227,948 shares of the company’s stock after selling 183,994 shares during the quarter. Korea Investment CORP owned approximately 0.38% of Advance Auto Parts worth $39,456,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its stake in shares of Advance Auto Parts by 1.5% during the second quarter. Janney Montgomery Scott LLC now owns 29,117 shares of the company’s stock valued at $5,139,000 after purchasing an additional 421 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Advance Auto Parts by 47.9% during the first quarter. Mercer Global Advisors Inc. ADV now owns 8,278 shares of the company’s stock worth $1,713,000 after acquiring an additional 2,682 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Advance Auto Parts by 1.8% during the first quarter. PNC Financial Services Group Inc. now owns 10,659 shares of the company’s stock worth $2,206,000 after acquiring an additional 192 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its position in shares of Advance Auto Parts by 53.3% during the second quarter. Vestmark Advisory Solutions Inc. now owns 8,461 shares of the company’s stock worth $1,465,000 after acquiring an additional 2,941 shares during the last quarter. Finally, Central Bank & Trust Co. raised its position in shares of Advance Auto Parts by 61.6% during the second quarter. Central Bank & Trust Co. now owns 223 shares of the company’s stock worth $39,000 after acquiring an additional 85 shares during the last quarter. 99.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAP has been the subject of a number of analyst reports. Morgan Stanley lowered their price objective on Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, November 17th. Raymond James lowered their price objective on Advance Auto Parts from $210.00 to $200.00 and set a “strong-buy” rating for the company in a research report on Thursday, November 17th. The Goldman Sachs Group lowered their price objective on Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating for the company in a research report on Thursday, November 17th. Citigroup downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $216.00 to $161.00 in a research report on Thursday, November 17th. Finally, UBS Group downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $230.00 to $182.00 in a report on Wednesday, November 16th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $193.67.

Advance Auto Parts Trading Up 0.7 %

NYSE AAP opened at $150.55 on Thursday. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 0.94 and a beta of 1.27. Advance Auto Parts, Inc. has a 52 week low of $145.59 and a 52 week high of $244.55. The business has a 50 day moving average price of $170.23 and a 200-day moving average price of $180.93. The company has a quick ratio of 0.23, a current ratio of 1.13 and a debt-to-equity ratio of 0.44.

Advance Auto Parts (NYSE:AAPGet Rating) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $3.74 EPS for the quarter, meeting the consensus estimate of $3.74. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.75 billion. Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%. During the same quarter in the previous year, the company posted $3.40 earnings per share. As a group, equities analysts expect that Advance Auto Parts, Inc. will post 12.62 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th will be issued a dividend of $1.50 per share. The ex-dividend date is Thursday, December 15th. This represents a $6.00 annualized dividend and a dividend yield of 3.99%. Advance Auto Parts’s dividend payout ratio is 77.12%.

Advance Auto Parts Company Profile

(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.

Further Reading

Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAPGet Rating).

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

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.