Ceredex Value Advisors LLC lowered its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 71.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 181,881 shares of the company’s stock after selling 453,149 shares during the period. Ceredex Value Advisors LLC owned approximately 0.30% of Advance Auto Parts worth $28,435,000 at the end of the most recent reporting period.
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A number of other hedge funds have also recently made changes to their positions in AAP. Covestor Ltd boosted its position in Advance Auto Parts by 113.7% in the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after buying an additional 83 shares during the period. Ellevest Inc. boosted its position in Advance Auto Parts by 161.0% in the 2nd quarter. Ellevest Inc. now owns 201 shares of the company’s stock valued at $35,000 after buying an additional 124 shares during the period. Private Trust Co. NA purchased a new position in Advance Auto Parts in the 2nd quarter valued at approximately $36,000. Central Bank & Trust Co. boosted its position in Advance Auto Parts by 61.6% in the 2nd quarter. Central Bank & Trust Co. now owns 223 shares of the company’s stock valued at $39,000 after buying an additional 85 shares during the period. Finally, First Personal Financial Services boosted its position in Advance Auto Parts by 113.3% in the 3rd quarter. First Personal Financial Services now owns 224 shares of the company’s stock valued at $35,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 96.04% of the company’s stock.
Analyst Ratings Changes
Several brokerages have commented on AAP. Morgan Stanley decreased their price target on shares of Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, November 17th. StockNews.com cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st. Truist Financial cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $228.00 to $147.00 in a research report on Wednesday, November 16th. Citigroup cut shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $216.00 to $161.00 in a research report on Thursday, November 17th. Finally, Wells Fargo & Company cut their price target on shares of Advance Auto Parts from $180.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 5th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $190.00.
Advance Auto Parts Stock Performance
Shares of Advance Auto Parts stock traded down $0.77 on Thursday, reaching $148.34. 146,556 shares of the stock were exchanged, compared to its average volume of 805,592. Advance Auto Parts, Inc. has a 1-year low of $138.52 and a 1-year high of $237.39. The company has a current ratio of 1.13, a quick ratio of 0.23 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average price of $147.73 and a two-hundred day moving average price of $168.93. The firm has a market capitalization of $8.92 billion, a PE ratio of 19.17, a PEG ratio of 0.88 and a beta of 1.15.
Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings results on Tuesday, November 15th. The company reported $2.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.66 billion. As a group, research analysts anticipate that Advance Auto Parts, Inc. will post 12.59 earnings per share for the current fiscal year.
Advance Auto Parts Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 16th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, December 15th. Advance Auto Parts’s dividend payout ratio is currently 77.12%.
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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