Greenleaf Trust Purchases New Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Greenleaf Trust purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,676 shares of the company's stock, valued at approximately $204,000.

Several other large investors also recently bought and sold shares of AAP. Norges Bank acquired a new stake in shares of Advance Auto Parts during the fourth quarter worth approximately $97,170,000. Alyeska Investment Group L.P. acquired a new position in Advance Auto Parts during the fourth quarter worth about $86,585,000. Marshall Wace LLP grew its holdings in Advance Auto Parts by 378.8% during the fourth quarter. Marshall Wace LLP now owns 480,397 shares of the company's stock worth $70,633,000 after acquiring an additional 380,062 shares during the period. Barclays PLC grew its holdings in Advance Auto Parts by 337.3% during the fourth quarter. Barclays PLC now owns 339,699 shares of the company's stock worth $49,946,000 after acquiring an additional 262,025 shares during the period. Finally, Vanguard Group Inc. increased its stake in Advance Auto Parts by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company's stock worth $1,442,611,000 after purchasing an additional 261,715 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company's stock.

Several research firms have weighed in on AAP. UBS Group lowered their target price on Advance Auto Parts from $132.00 to $75.00 in a research note on Thursday, June 1st. Wedbush reiterated a "neutral" rating and set a $80.00 price objective on shares of Advance Auto Parts in a research note on Thursday, August 24th. Raymond James lowered Advance Auto Parts from a "strong-buy" rating to a "market perform" rating in a research note on Thursday, June 1st. Northcoast Research began coverage on Advance Auto Parts in a report on Wednesday, June 28th. They issued a "neutral" rating on the stock. Finally, Citigroup reduced their target price on Advance Auto Parts from $126.00 to $76.00 in a report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Advance Auto Parts presently has a consensus rating of "Hold" and an average price target of $94.74.

View Our Latest Report on AAP

Shares of AAP stock opened at $65.62 on Tuesday. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.19 and a beta of 1.08. The stock has a 50-day moving average of $70.03 and a 200-day moving average of $100.89. The company has a current ratio of 1.26, a quick ratio of 0.25 and a debt-to-equity ratio of 0.66. Advance Auto Parts, Inc. has a 1-year low of $63.09 and a 1-year high of $194.35.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 23rd. The company reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.23). The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.66 billion. Advance Auto Parts had a net margin of 3.08% and a return on equity of 17.53%. The company's quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $3.74 EPS. On average, equities research analysts forecast that Advance Auto Parts, Inc. will post 4.72 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.52%. Advance Auto Parts's payout ratio is 17.30%.

In other Advance Auto Parts news, Director Carla Jean Bailo bought 500 shares of the business's stock in a transaction that occurred on Wednesday, June 7th. The shares were bought at an average price of $65.90 per share, for a total transaction of $32,950.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $32,950. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Advance Auto Parts news, Director Carla Jean Bailo bought 500 shares of the business's stock in a transaction that occurred on Wednesday, June 7th. The shares were bought at an average price of $65.90 per share, for a total transaction of $32,950.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $32,950. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas A. Pertz purchased 4,575 shares of the business's stock in a transaction on Monday, June 12th. The stock was purchased at an average price of $66.02 per share, for a total transaction of $302,041.50. Following the acquisition, the director now owns 12,831 shares of the company's stock, valued at approximately $847,102.62. The disclosure for this purchase can be found here. Insiders have acquired a total of 5,463 shares of company stock worth $359,924 in the last 90 days. Corporate insiders own 0.63% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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