Cambria Investment Management L.P. lifted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 8.3{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} 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{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} 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{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} 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{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} 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{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} 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{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} 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{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} of the stock is owned by hedge funds and other institutional investors.
Advance Auto Parts Stock Down 0.5 {da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377}
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{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} and a return on equity of 25.97{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377}. 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{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377}. Advance Auto Parts’s dividend payout ratio is 77.12{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377}.
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.
Further Reading
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