Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lowered its stake in shares of Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 9.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,167 shares of the company’s stock after selling 225 shares during the quarter. Shell Asset Management Co.’s holdings in Advance Auto Parts were worth $448,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp increased its stake in shares of Advance Auto Parts by 2.6% during the 4th quarter. State Street Corp now owns 2,929,142 shares of the company’s stock valued at $705,541,000 after acquiring an additional 74,627 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Advance Auto Parts by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,883,817 shares of the company’s stock valued at $451,890,000 after acquiring an additional 53,418 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Advance Auto Parts by 4.1% during the 4th quarter. Bank of America Corp DE now owns 999,493 shares of the company’s stock valued at $239,759,000 after acquiring an additional 39,329 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Advance Auto Parts by 15.0% during the 4th quarter. Invesco Ltd. now owns 919,397 shares of the company’s stock worth $220,546,000 after purchasing an additional 119,664 shares during the period. Finally, Scharf Investments LLC grew its holdings in shares of Advance Auto Parts by 4.0% during the 1st quarter. Scharf Investments LLC now owns 831,357 shares of the company’s stock worth $172,080,000 after purchasing an additional 32,195 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

Advance Auto Parts Stock Performance

Shares of AAP opened at $195.27 on Thursday. The business’s 50 day moving average is $183.67 and its two-hundred day moving average is $203.33. Advance Auto Parts, Inc. has a 52-week low of $164.00 and a 52-week high of $244.55. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.13 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 0.41.

Advance Auto Parts (NYSE:AAPGet Rating) last posted its quarterly earnings results on Monday, May 23rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.53 by $0.04. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.39 billion. Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.34 EPS. Analysts forecast that Advance Auto Parts, Inc. will post 13.7 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 17th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Thursday, June 16th. Advance Auto Parts’s dividend payout ratio is presently 66.82%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group decreased their target price on Advance Auto Parts to $250.00 in a report on Wednesday, May 25th. Wedbush decreased their target price on Advance Auto Parts from $270.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, May 24th. Raymond James decreased their target price on Advance Auto Parts from $275.00 to $250.00 in a report on Wednesday, May 25th. Truist Financial decreased their target price on Advance Auto Parts from $276.00 to $238.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Finally, StockNews.com cut Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $242.17.

Advance Auto Parts Company Profile

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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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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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