Mackenzie Financial Corp lessened its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 21.0% during the second quarter, Holdings Channel reports. The fund owned 5,033 shares of the company’s stock after selling 1,339 shares during the quarter. Mackenzie Financial Corp’s holdings in Advance Auto Parts were worth $871,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Advance Auto Parts by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after purchasing an additional 261,715 shares in the last quarter. Clearbridge Investments LLC grew its stake in Advance Auto Parts by 3.6% in the first quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock valued at $685,801,000 after acquiring an additional 114,789 shares during the period. JPMorgan Chase & Co. raised its position in shares of Advance Auto Parts by 14.3% during the first quarter. JPMorgan Chase & Co. now owns 2,153,331 shares of the company’s stock worth $445,652,000 after purchasing an additional 269,514 shares during the period. American Century Companies Inc. raised its position in shares of Advance Auto Parts by 16.1% during the first quarter. American Century Companies Inc. now owns 1,676,374 shares of the company’s stock worth $346,943,000 after purchasing an additional 232,904 shares during the period. Finally, Champlain Investment Partners LLC grew its position in Advance Auto Parts by 1.2% in the 1st quarter. Champlain Investment Partners LLC now owns 1,642,607 shares of the company’s stock valued at $339,954,000 after purchasing an additional 19,604 shares during the period. 99.47% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Truist Financial cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating and reduced their price objective for the company from $228.00 to $147.00 in a report on Wednesday, November 16th. Citigroup downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $216.00 to $161.00 in a research note on Thursday, November 17th. Wedbush cut their target price on Advance Auto Parts from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 16th. Royal Bank of Canada lowered their price target on Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating for the company in a research report on Thursday, November 17th. Finally, 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 research note on Thursday, November 17th. Eight 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. Based on data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.67.
Advance Auto Parts Price Performance
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $3.74 earnings per share for the quarter, hitting the consensus estimate of $3.74. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.75 billion. Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%. During the same quarter last year, the firm posted $3.40 EPS. Analysts anticipate that Advance Auto Parts, Inc. will post 12.62 earnings per share for the current year.
Advance Auto Parts Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Thursday, December 15th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 77.12%.
About Advance Auto Parts
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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