Advance Auto Parts, Inc. (NYSE:AAP) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 1,138.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,214 shares of the company’s stock after buying an additional 104,990 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Advance Auto Parts were worth $17,855,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AAP. Private Advisor Group LLC acquired a new position in Advance Auto Parts in the first quarter valued at about $232,000. MetLife Investment Management LLC lifted its position in Advance Auto Parts by 21.9% in the first quarter. MetLife Investment Management LLC now owns 16,965 shares of the company’s stock valued at $3,511,000 after buying an additional 3,046 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Advance Auto Parts by 5.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,343 shares of the company’s stock worth $1,727,000 after purchasing an additional 435 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of Advance Auto Parts by 120.6% during the first quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock worth $2,399,000 after purchasing an additional 6,338 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Advance Auto Parts by 14.4% during the first quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock worth $956,000 after purchasing an additional 582 shares in the last quarter. Institutional investors and hedge funds own 96.04% of the company’s stock.

Advance Auto Parts Trading Up 0.9 %

NYSE AAP opened at $153.28 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.23. The firm’s fifty day moving average price is $154.01 and its 200 day moving average price is $171.06. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 0.91 and a beta of 1.15. Advance Auto Parts, Inc. has a 12 month low of $138.52 and a 12 month high of $244.20.

Advance Auto Parts (NYSE:AAPGet Rating) last posted its earnings results on Tuesday, November 15th. The company reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.48). The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. On average, sell-side analysts expect that Advance Auto Parts, Inc. will post 12.6 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.91%. The ex-dividend date was Thursday, December 15th. Advance Auto Parts’s payout ratio is currently 77.12%.

Analysts Set New Price Targets

AAP has been the topic of several research reports. Morgan Stanley reduced their price target on shares of Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 17th. Raymond James reduced their price target on shares of Advance Auto Parts from $210.00 to $200.00 and set a “strong-buy” rating on the stock in a research report on Thursday, November 17th. Wedbush reduced their price target on shares of 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. StockNews.com lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, December 21st. Finally, UBS Group lowered shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and cut their target price for the stock from $230.00 to $182.00 in a research note on Wednesday, November 16th. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $191.25.

Advance Auto Parts 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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