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

Pictet Asset Management SA reduced its stake in Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 1.5% in the 2nd quarter, Holdings Channel reports. The firm owned 30,686 shares of the company’s stock after selling 471 shares during the quarter. Pictet Asset Management SA’s holdings in Advance Auto Parts were worth $5,311,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC grew its stake in shares of Advance Auto Parts by 196.5% in the second quarter. Ceredex Value Advisors LLC now owns 635,030 shares of the company’s stock valued at $110,848,000 after buying an additional 420,878 shares in the last quarter. River Road Asset Management LLC boosted its holdings in Advance Auto Parts by 62.0% in the 1st quarter. River Road Asset Management LLC now owns 1,055,464 shares of the company’s stock worth $218,439,000 after acquiring an additional 404,138 shares during the period. JPMorgan Chase & Co. grew its position in Advance Auto Parts by 14.3% in the first quarter. JPMorgan Chase & Co. now owns 2,153,331 shares of the company’s stock valued at $445,652,000 after acquiring an additional 269,514 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Advance Auto Parts by 3.9% during the first quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock valued at $1,442,611,000 after purchasing an additional 261,715 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Advance Auto Parts by 202.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 390,826 shares of the company’s stock worth $80,885,000 after purchasing an additional 261,608 shares in the last quarter. 99.47% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Down 0.5 %

AAP stock opened at $147.50 on Friday. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 0.94 and a beta of 1.27. Advance Auto Parts, Inc. has a 1-year low of $145.59 and a 1-year high of $244.55. The firm has a fifty day moving average price of $171.75 and a two-hundred day moving average price of $182.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.25.

Advance Auto Parts (NYSE:AAPGet Rating) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $3.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.74. Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the firm earned $3.40 EPS. Research analysts predict that Advance Auto Parts, Inc. will post 12.62 EPS for the current year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 16th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $6.00 dividend on an annualized basis and a yield of 4.07%. Advance Auto Parts’s payout ratio is currently 77.12%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AAP shares. Raymond James lowered their price target on shares of Advance Auto Parts from $210.00 to $200.00 and set a “strong-buy” rating for the company in a report on Thursday. Truist Financial lowered Advance Auto Parts from a “buy” rating to a “hold” rating and dropped their target price for the stock from $228.00 to $147.00 in a research report on Wednesday. UBS Group downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating and reduced their price target for the company from $230.00 to $182.00 in a report on Wednesday. Guggenheim downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, StockNews.com upgraded Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Monday, November 14th. Eight 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 stock. Based on data from MarketBeat, Advance Auto Parts presently has an average rating of “Moderate Buy” and an average target price of $197.07.

Advance Auto Parts Company Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAPGet Rating).

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

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.