Cambria Investment Management L.P. lifted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,150 shares of the company’s stock after buying an additional 2,550 shares during the period. Cambria Investment Management L.P. owned approximately 0.06% of Advance Auto Parts worth $5,183,000 as of its most recent SEC filing.
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A number of other institutional investors have also recently added to or reduced their stakes in AAP. Private Advisor Group LLC purchased a new position in Advance Auto Parts in the 1st quarter valued at about $232,000. MetLife Investment Management LLC lifted its position in shares of Advance Auto Parts by 21.9% during the first quarter. MetLife Investment Management LLC now owns 16,965 shares of the company’s stock worth $3,511,000 after purchasing an additional 3,046 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Advance Auto Parts by 5.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,343 shares of the company’s stock worth $1,727,000 after purchasing an additional 435 shares during the last quarter. Cibc World Market Inc. raised its stake in Advance Auto Parts by 120.6% during the first quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock worth $2,399,000 after acquiring an additional 6,338 shares during the period. Finally, Blair William & Co. IL raised its stake in Advance Auto Parts by 14.4% during the first quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock worth $956,000 after acquiring an additional 582 shares during the period. 96.04% of the stock is owned by hedge funds and other institutional investors.
Advance Auto Parts Stock Down 0.5 %
AAP stock traded down $0.74 during midday trading on Friday, reaching $154.50. The company had a trading volume of 64,347 shares, compared to its average volume of 869,793. The company has a market capitalization of $9.29 billion, a P/E ratio of 19.95, a PEG ratio of 1.04 and a beta of 1.11. The company has a 50 day moving average of $148.02 and a two-hundred day moving average of $167.65. The company has a current ratio of 1.13, a quick ratio of 0.23 and a debt-to-equity ratio of 0.44. Advance Auto Parts, Inc. has a 1 year low of $138.52 and a 1 year high of $234.23.
Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings results on Tuesday, November 15th. The company reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.48). The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.66 billion. Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. On average, equities research analysts expect that Advance Auto Parts, Inc. will post 12.59 earnings per share for the current fiscal year.
Advance Auto Parts Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were given a $1.50 dividend. The ex-dividend date was Thursday, December 15th. This represents a $6.00 annualized dividend and a yield of 3.88%. Advance Auto Parts’s dividend payout ratio is 77.12%.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on AAP. Truist Financial cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating and decreased their price objective for the company from $228.00 to $147.00 in a report on Wednesday, November 16th. Argus reduced their target price on shares of Advance Auto Parts from $220.00 to $185.00 in a report on Monday, December 5th. The Goldman Sachs Group reduced their target price on shares of Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating for the company in a report on Thursday, November 17th. Royal Bank of Canada reduced their target price on shares of Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating for the company in a report on Thursday, November 17th. Finally, Morgan Stanley reduced their target price on shares of Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, November 17th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Advance Auto Parts presently has an average rating of “Moderate Buy” and a consensus price target of $189.88.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.
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