SPX Gestao de Recursos Ltda purchased a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 37,919 shares of the company’s stock, valued at approximately $5,928,000. SPX Gestao de Recursos Ltda owned 0.06% of Advance Auto Parts as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of AAP. Vanguard Group Inc. grew its stake in shares of Advance Auto Parts by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after acquiring an additional 261,715 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Advance Auto Parts by 3.6% in the first quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock worth $685,801,000 after acquiring an additional 114,789 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Advance Auto Parts by 22.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,636,189 shares of the company’s stock valued at $456,297,000 after purchasing an additional 482,858 shares in the last quarter. Invesco Ltd. lifted its position in shares of Advance Auto Parts by 10.8% in the 1st quarter. Invesco Ltd. now owns 1,018,797 shares of the company’s stock worth $210,850,000 after buying an additional 99,400 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its position in shares of Advance Auto Parts by 196.5% in the 2nd quarter. Ceredex Value Advisors LLC now owns 635,030 shares of the company’s stock worth $110,848,000 after buying an additional 420,878 shares during the last quarter. 96.04% of the stock is currently owned by institutional investors and hedge funds.
Advance Auto Parts Price Performance
Shares of NYSE:AAP traded down $0.59 during mid-day trading on Friday, reaching $151.60. The stock had a trading volume of 10,027 shares, compared to its average volume of 833,412. The business’s 50 day moving average price is $153.37 and its 200 day moving average price is $170.93. 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 $244.20. The company has a market cap of $9.11 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 0.91 and a beta of 1.15.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Tuesday, November 15th. The company reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.32 by ($0.48). Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.66 billion. Research analysts expect that Advance Auto Parts, Inc. will post 12.6 EPS for the current fiscal year.
Advance Auto Parts Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were issued a dividend of $1.50 per share. The ex-dividend date was Thursday, December 15th. This represents a $6.00 dividend on an annualized basis and a yield of 3.96%. Advance Auto Parts’s dividend payout ratio is currently 77.12%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on AAP shares. UBS Group cut shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $230.00 to $182.00 in a research note on Wednesday, November 16th. Stephens lowered their price target on shares of Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating on the stock in a report on Monday, November 21st. Morgan Stanley lowered their target price on shares of Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, November 17th. Truist Financial downgraded shares of Advance Auto Parts from a “buy” rating to a “hold” rating and reduced their price target for the stock from $228.00 to $147.00 in a research report on Wednesday, November 16th. Finally, Citigroup downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and cut their target price for the company from $216.00 to $161.00 in a research report on Thursday, November 17th. Ten investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Advance Auto Parts currently has a consensus rating of “Hold” and an average price target of $190.00.
Advance Auto Parts Company 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.
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