Principal Financial Group Inc. Has $10.95 Million Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Principal Financial Group Inc. lowered its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 280,865 shares of the company’s stock after selling 11,754 shares during the quarter. Principal Financial Group Inc.’s holdings in Advance Auto Parts were worth $10,951,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Advance Auto Parts during the 3rd quarter worth approximately $14,684,000. Wolverine Asset Management LLC boosted its holdings in Advance Auto Parts by 212.4% in the third quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock worth $1,223,000 after acquiring an additional 21,320 shares in the last quarter. Quest Partners LLC acquired a new stake in Advance Auto Parts in the third quarter valued at approximately $579,000. BW Gestao de Investimentos Ltda. bought a new stake in shares of Advance Auto Parts during the second quarter valued at approximately $7,916,000. Finally, FORA Capital LLC acquired a new position in shares of Advance Auto Parts during the third quarter worth approximately $2,144,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $44.06 on Monday. Advance Auto Parts, Inc. has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The firm’s fifty day moving average price is $41.21 and its 200-day moving average price is $48.37. The stock has a market cap of $2.63 billion, a P/E ratio of 60.36 and a beta of 1.21. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the business posted ($0.82) earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities research analysts expect that Advance Auto Parts, Inc. will post -0.54 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.27%. Advance Auto Parts’s payout ratio is 136.99%.

Insider Activity

In other news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AAP shares. Mizuho reiterated a “neutral” rating and set a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. BMO Capital Markets began coverage on Advance Auto Parts in a report on Friday, December 13th. They set a “market perform” rating and a $45.00 price target for the company. UBS Group raised their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Royal Bank of Canada lowered their target price on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Finally, Evercore ISI increased their price objective on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and an average price target of $48.40.

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.