Park Avenue Securities LLC Purchases 218 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Park Avenue Securities LLC raised its position in shares of Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 11.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,150 shares of the company’s stock after acquiring an additional 218 shares during the period. Park Avenue Securities LLC’s holdings in Advance Auto Parts were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AAP. Covestor Ltd lifted its position in Advance Auto Parts by 113.7% during the first quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares during the last quarter. Ellevest Inc. lifted 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 valued at $35,000 after acquiring an additional 124 shares during the last quarter. Private Trust Co. NA purchased a new position in Advance Auto Parts in the second quarter worth about $36,000. Rosenberg Matthew Hamilton bought a new stake in Advance Auto Parts during the second quarter worth approximately $38,000. Finally, Central Bank & Trust Co. lifted its stake 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 valued at $39,000 after purchasing an additional 85 shares during the last quarter. 96.04% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Up 2.9 %

Shares of Advance Auto Parts stock opened at $147.49 on Monday. 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 stock has a market cap of $8.87 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 0.89 and a beta of 1.15. The firm’s 50-day moving average is $149.30 and its two-hundred day moving average is $169.57. Advance Auto Parts, Inc. has a 1 year low of $138.52 and a 1 year high of $237.39.

Advance Auto Parts (NYSE:AAPGet Rating) last issued its quarterly earnings data on Tuesday, November 15th. The company reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.32 by ($0.48). The business had revenue of $2.64 billion for 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%. As a group, research analysts expect that Advance Auto Parts, Inc. will post 12.59 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Advance Auto Parts from $180.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 5th. Royal Bank of Canada reduced their target price on shares of Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 17th. The Goldman Sachs Group dropped their price target 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. Guggenheim lowered shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a research report on Thursday, November 17th. Finally, Truist Financial lowered Advance Auto Parts from a “buy” rating to a “hold” rating and dropped their target price for the company from $228.00 to $147.00 in a research report on Wednesday, November 16th. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $190.00.

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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