Advance Auto Parts, Inc. (NYSE:AAP) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 35.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,390 shares of the company’s stock after acquiring an additional 10,623 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.07% of Advance Auto Parts worth $1,575,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Third Point LLC acquired a new stake in Advance Auto Parts during the first quarter worth approximately $127,234,000. Dorsal Capital Management LP raised its position in Advance Auto Parts by 159.7% in the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock valued at $79,162,000 after purchasing an additional 768,664 shares during the period. Capital World Investors boosted its holdings in Advance Auto Parts by 67.0% in the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock worth $130,522,000 after acquiring an additional 615,674 shares during the period. Dimensional Fund Advisors LP grew its position in Advance Auto Parts by 76.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after acquiring an additional 547,696 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Advance Auto Parts during the third quarter valued at approximately $17,477,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AAP. JPMorgan Chase & Co. lowered their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Roth Capital raised Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group lowered their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday. Roth Mkm reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Advance Auto Parts in a research report on Wednesday, October 16th. Finally, UBS Group raised their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.14.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $40.10 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a 50-day simple moving average of $39.02 and a 200 day simple moving average of $54.11. Advance Auto Parts, Inc. has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The company has a market cap of $2.39 billion, a PE ratio of 54.92 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the business earned ($0.82) earnings per share. Advance Auto Parts’s quarterly revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Advance Auto Parts, Inc. will post 2.26 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s payout ratio is 136.99%.

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.