Prelude Capital Management LLC Raises Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Prelude Capital Management LLC lifted its position in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 38.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,374 shares of the company’s stock after purchasing an additional 664 shares during the period. Prelude Capital Management LLC’s holdings in Advance Auto Parts were worth $371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Covestor Ltd lifted 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 buying an additional 83 shares during the period. Private Trust Co. NA purchased a new stake in Advance Auto Parts in the second quarter worth about $36,000. First Personal Financial Services grew its holdings in Advance Auto Parts by 113.3% during the 3rd quarter. First Personal Financial Services now owns 224 shares of the company’s stock worth $35,000 after acquiring an additional 119 shares in the last quarter. AllSquare Wealth Management LLC bought a new position in Advance Auto Parts during the 2nd quarter worth about $43,000. Finally, Ronald Blue Trust Inc. purchased a new position in Advance Auto Parts during the 2nd quarter valued at about $56,000. Institutional investors own 96.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of 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. Wells Fargo & Company cut their price target on Advance Auto Parts from $180.00 to $150.00 and set an “equal weight” rating on the stock in a report on Thursday, January 5th. UBS Group cut Advance Auto Parts from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $230.00 to $182.00 in a research note on Wednesday, November 16th. Truist Financial lowered Advance Auto Parts from a “buy” rating to a “hold” rating and cut their target price for the company from $228.00 to $147.00 in a research note on Wednesday, November 16th. Finally, StockNews.com raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Wednesday, February 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $166.89.

Advance Auto Parts Trading Down 2.9 %

Advance Auto Parts stock opened at $124.36 on Tuesday. The stock has a 50-day moving average price of $146.60 and a 200 day moving average price of $157.50. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.05 and a beta of 1.12. Advance Auto Parts, Inc. has a 52 week low of $124.10 and a 52 week high of $231.43. The company has a quick ratio of 0.21, a current ratio of 1.13 and a debt-to-equity ratio of 0.44.

Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.41 by $0.47. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Advance Auto Parts had a net margin of 4.50% and a return on equity of 28.53%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.07 EPS. Sell-side analysts anticipate that Advance Auto Parts, Inc. will post 10.66 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Thursday, April 13th. Advance Auto Parts’s payout ratio is 72.55%.

Advance Auto Parts Company Profile

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Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.