Amalgamated Bank Reduces Position in Advance Auto Parts, Inc. (NYSE:AAP)

Amalgamated Bank decreased its stake in Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 6.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,712 shares of the company’s stock after selling 1,188 shares during the period. Amalgamated Bank’s holdings in Advance Auto Parts were worth $3,459,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Xponance Inc. boosted its holdings in shares of Advance Auto Parts by 2.6% in the 1st quarter. Xponance Inc. now owns 4,413 shares of the company’s stock valued at $913,000 after buying an additional 111 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Advance Auto Parts by 47.9% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 8,278 shares of the company’s stock valued at $1,713,000 after buying an additional 2,682 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Advance Auto Parts by 1.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,659 shares of the company’s stock valued at $2,206,000 after buying an additional 192 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Advance Auto Parts by 6.4% in the 1st quarter. IFM Investors Pty Ltd now owns 9,218 shares of the company’s stock valued at $1,908,000 after buying an additional 558 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in shares of Advance Auto Parts in the 1st quarter valued at $730,000. Institutional investors and hedge funds own 99.47% of the company’s stock.

Advance Auto Parts Stock Performance

Shares of AAP opened at $164.11 on Friday. The company has a 50-day simple moving average of $185.30 and a 200-day simple moving average of $193.78. The company has a quick ratio of 0.25, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $9.87 billion, a PE ratio of 19.04, a P/E/G ratio of 1.06 and a beta of 1.24. Advance Auto Parts, Inc. has a 52-week low of $162.92 and a 52-week high of $244.55.

Advance Auto Parts (NYSE:AAPGet Rating) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.76 by ($0.02). Advance Auto Parts had a net margin of 4.84% and a return on equity of 25.99%. During the same quarter in the previous year, the company posted $3.40 earnings per share. Equities research analysts predict that Advance Auto Parts, Inc. will post 13.01 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $6.00 annualized dividend and a yield of 3.66%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 69.61%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial decreased their price target on shares of Advance Auto Parts from $238.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, August 25th. MKM Partners assumed coverage on shares of Advance Auto Parts in a research note on Thursday, June 23rd. They set a “buy” rating and a $195.00 price target for the company. StockNews.com upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Wedbush decreased their price target on shares of Advance Auto Parts from $215.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, August 24th. Finally, UBS Group decreased their price target on shares of Advance Auto Parts from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 24th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.56.

About Advance Auto Parts

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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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