Marathon Trading Investment Management LLC Takes Position in Advance Auto Parts, Inc. (NYSE:AAP)

Marathon Trading Investment Management LLC purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,500 shares of the company’s stock, valued at approximately $292,000.

Other hedge funds also recently modified their holdings of the company. Third Point LLC purchased a new stake in Advance Auto Parts in the first quarter valued at approximately $127,234,000. Dorsal Capital Management LP increased its stake in shares of 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 worth $79,162,000 after buying an additional 768,664 shares during the last quarter. Capital World Investors raised its stake in Advance Auto Parts by 67.0% during the first quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock valued at $130,522,000 after buying an additional 615,674 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Advance Auto Parts by 76.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock worth $80,197,000 after purchasing an additional 547,696 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Advance Auto Parts in the 3rd quarter worth approximately $17,477,000. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Stock Performance

NYSE:AAP opened at $37.69 on Friday. The firm has a market capitalization of $2.25 billion, a P/E ratio of 51.63 and a beta of 1.17. The company has a fifty day moving average of $39.02 and a 200-day moving average of $54.24. The company has a quick ratio of 0.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the company earned $1.43 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, 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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. TD Cowen decreased their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. cut their target price on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Evercore ISI decreased their target price on shares of Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a report on Tuesday, October 22nd. Mizuho reissued a “neutral” rating and set a $38.00 price target (down from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. Finally, Royal Bank of Canada cut their price target on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. 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 company’s stock. Based on data from MarketBeat, the stock presently 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.