Truist Financial Corp Sells 832 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Truist Financial Corp decreased its holdings in Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,555 shares of the company’s stock after selling 832 shares during the period. Truist Financial Corp’s holdings in Advance Auto Parts were worth $3,683,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Covestor Ltd increased its holdings in shares of Advance Auto Parts by 113.7% in the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after purchasing an additional 83 shares in the last quarter. Ellevest Inc. increased its holdings in shares of Advance Auto Parts by 161.0% in the 2nd quarter. Ellevest Inc. now owns 201 shares of the company’s stock worth $35,000 after purchasing an additional 124 shares in the last quarter. Private Trust Co. NA bought a new stake in shares of Advance Auto Parts in the 2nd quarter worth $36,000. Rosenberg Matthew Hamilton bought a new stake in shares of Advance Auto Parts in the 2nd quarter worth $38,000. Finally, Central Bank & Trust Co. increased its holdings in shares of Advance Auto Parts by 61.6% in the 2nd quarter. Central Bank & Trust Co. now owns 223 shares of the company’s stock worth $39,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 96.04% of the company’s stock.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock opened at $151.03 on Friday. The stock’s 50-day simple moving average is $152.77 and its 200-day simple moving average is $170.70. Advance Auto Parts, Inc. has a 52 week low of $138.52 and a 52 week high of $242.96. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 0.91 and a beta of 1.15. The company has a quick ratio of 0.23, a current ratio of 1.13 and a debt-to-equity ratio of 0.44.

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

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were given a $1.50 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $6.00 annualized dividend and a dividend yield of 3.97%. Advance Auto Parts’s payout ratio is 77.12%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group dropped their price target on Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating on the stock in a research note on Thursday, November 17th. Citigroup downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $216.00 to $161.00 in a research note on Thursday, November 17th. Argus dropped their price target on Advance Auto Parts from $220.00 to $185.00 in a research note on Monday, December 5th. Raymond James dropped their price target on Advance Auto Parts from $210.00 to $200.00 and set a “strong-buy” rating on the stock in a research note on Thursday, November 17th. Finally, Truist Financial downgraded Advance Auto Parts from a “buy” rating to a “hold” rating and dropped their price target for the stock from $228.00 to $147.00 in a research note on Wednesday, November 16th. Ten equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $190.00.

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.

See Also

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

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