Townsend Asset Management Corp NC ADV lifted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,423 shares of the company’s stock after buying an additional 1,058 shares during the quarter. Advance Auto Parts makes up 3.0% of Townsend Asset Management Corp NC ADV’s holdings, making the stock its 5th largest holding. Townsend Asset Management Corp NC ADV owned about 0.06% of Advance Auto Parts worth $5,382,000 at the end of the most recent quarter.
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A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Check Capital Management Inc. CA boosted its stake in shares of Advance Auto Parts by 52.4% during the third quarter. Check Capital Management Inc. CA now owns 184,000 shares of the company’s stock valued at $28,767,000 after purchasing an additional 63,240 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Advance Auto Parts by 2.1% during the third quarter. Daiwa Securities Group Inc. now owns 4,088 shares of the company’s stock valued at $639,000 after buying an additional 86 shares during the last quarter. Signature Wealth Management Group bought a new stake in shares of Advance Auto Parts in the 3rd quarter valued at about $2,956,000. Running Oak Capital LLC purchased a new position in shares of Advance Auto Parts in the 3rd quarter worth approximately $4,403,000. Finally, Clear Street Markets LLC raised its stake in shares of Advance Auto Parts by 2,350.0% during the 3rd quarter. Clear Street Markets LLC now owns 3,136 shares of the company’s stock worth $490,000 after acquiring an additional 3,008 shares in the last quarter. Institutional investors own 96.04% of the company’s stock.
Advance Auto Parts Stock Performance
Shares of AAP stock traded down $0.99 on Tuesday, hitting $150.04. The company had a trading volume of 2,043 shares, compared to its average volume of 712,919. The firm has a market cap of $9.02 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 0.91 and a beta of 1.15. The company has a 50-day moving average price of $152.12 and a 200-day moving average price of $170.45. The company has a quick ratio of 0.23, a current ratio of 1.13 and a debt-to-equity ratio of 0.44. Advance Auto Parts, Inc. has a twelve month low of $138.52 and a twelve month high of $242.96.
Advance Auto Parts (NYSE:AAP – Get Rating) last issued 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 net margin of 4.30% and a return on equity of 25.97%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.66 billion. As a group, equities research analysts predict that Advance Auto Parts, Inc. will post 12.59 earnings per share for the current fiscal year.
Advance Auto Parts Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, December 15th. Advance Auto Parts’s dividend payout ratio (DPR) is 77.12%.
Analyst Upgrades and Downgrades
AAP has been the topic of several analyst reports. Citigroup lowered shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and cut their price target for the stock from $216.00 to $161.00 in a report on Thursday, November 17th. Guggenheim cut Advance Auto Parts from a “buy” rating to a “neutral” rating in a research report on Thursday, November 17th. DA Davidson lowered their price objective on Advance Auto Parts from $200.00 to $170.00 in a research report on Thursday, November 17th. Argus lowered their price objective on Advance Auto Parts from $220.00 to $185.00 in a research report on Monday, December 5th. Finally, Truist Financial cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating and lowered their target price for the stock from $228.00 to $147.00 in a research note on Wednesday, November 16th. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Advance Auto Parts presently has an average rating of “Hold” and a consensus target price 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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