Advance Auto Parts, Inc. Declares Quarterly Dividend of $0.25 (NYSE:AAP)

Advance Auto Parts, Inc. (NYSE:AAP) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Friday, April 11th will be paid a dividend of 0.25 per share on Friday, April 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, April 11th.

Advance Auto Parts has decreased its dividend by an average of 32.5% per year over the last three years. Advance Auto Parts has a dividend payout ratio of 34.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Advance Auto Parts to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 63.7%.

Advance Auto Parts Stock Down 0.2 %

AAP opened at $36.90 on Friday. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The firm’s fifty day moving average price is $46.01 and its two-hundred day moving average price is $43.88. The company has a market capitalization of $2.20 billion, a P/E ratio of 50.55, a P/E/G ratio of 1.98 and a beta of 1.15.

Insider Transactions at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AAP. BMO Capital Markets decreased their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research note on Thursday. DA Davidson reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. The Goldman Sachs Group cut their price target on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Wells Fargo & Company boosted their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Evercore ISI boosted their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.69.

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.