Employees Retirement System of Texas Boosts Stake in Advance Auto Parts, Inc. (AAP)

Employees Retirement System of Texas grew its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 13.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 51,044 shares of the company’s stock after acquiring an additional 6,000 shares during the quarter. Employees Retirement System of Texas owned about 0.07% of Advance Auto Parts worth $8,037,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAP. BlackRock Inc. lifted its position in Advance Auto Parts by 11.7% in the fourth quarter. BlackRock Inc. now owns 5,089,102 shares of the company’s stock worth $801,330,000 after buying an additional 534,863 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Advance Auto Parts by 417.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 560,510 shares of the company’s stock worth $88,250,000 after buying an additional 452,190 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Advance Auto Parts by 892.6% in the third quarter. JPMorgan Chase & Co. now owns 430,256 shares of the company’s stock worth $72,425,000 after buying an additional 386,910 shares during the last quarter. Morgan Stanley lifted its position in Advance Auto Parts by 138.7% in the third quarter. Morgan Stanley now owns 532,494 shares of the company’s stock worth $89,634,000 after buying an additional 309,406 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Advance Auto Parts by 1,434.5% in the fourth quarter. SG Americas Securities LLC now owns 190,569 shares of the company’s stock worth $30,007,000 after buying an additional 178,150 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company’s stock.

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AAP has been the subject of a number of analyst reports. Zacks Investment Research downgraded Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. Credit Suisse Group reiterated a “buy” rating and issued a $195.00 target price on shares of Advance Auto Parts in a research note on Tuesday, February 19th. UBS Group increased their target price on Advance Auto Parts from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, November 14th. Bank of America increased their target price on Advance Auto Parts from $177.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 14th. Finally, Jefferies Financial Group reduced their target price on Advance Auto Parts to $195.00 and set a “buy” rating on the stock in a research note on Wednesday, February 20th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Advance Auto Parts currently has an average rating of “Buy” and a consensus target price of $187.76.

AAP stock opened at $157.97 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.49 and a current ratio of 1.57. Advance Auto Parts, Inc. has a twelve month low of $102.15 and a twelve month high of $186.15. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, February 19th. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Advance Auto Parts had a return on equity of 14.64% and a net margin of 4.42%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. Sell-side analysts predict that Advance Auto Parts, Inc. will post 8.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 22nd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.15%. Advance Auto Parts’s dividend payout ratio is currently 3.37%.

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About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.

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