Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by CreativeOne Wealth LLC

CreativeOne Wealth LLC reduced its stake in shares of Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 20.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,605 shares of the company’s stock after selling 2,251 shares during the period. CreativeOne Wealth LLC’s holdings in Advance Auto Parts were worth $1,345,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Private Advisor Group LLC acquired a new position in shares of Advance Auto Parts in the 1st quarter valued at about $232,000. MetLife Investment Management LLC boosted its holdings in shares of Advance Auto Parts by 21.9% in the 1st 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 period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Advance Auto Parts by 5.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,343 shares of the company’s stock valued at $1,727,000 after buying an additional 435 shares during the period. Cibc World Market Inc. boosted its holdings in shares of Advance Auto Parts by 120.6% in the 1st quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock valued at $2,399,000 after buying an additional 6,338 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of Advance Auto Parts by 14.4% in the 1st quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock valued at $956,000 after buying an additional 582 shares during the period. 96.04% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Stock Down 2.1 %

AAP stock opened at $121.70 on Wednesday. Advance Auto Parts, Inc. has a 52 week low of $121.05 and a 52 week high of $231.43. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.05 and a beta of 1.12. The firm’s 50-day moving average is $146.00 and its two-hundred day moving average is $157.13. The company has a current ratio of 1.13, a quick ratio of 0.21 and a debt-to-equity ratio of 0.44.

Advance Auto Parts (NYSE:AAPGet Rating) last released its earnings results on Tuesday, February 28th. The company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.47. Advance Auto Parts had a net margin of 4.50% and a return on equity of 28.53%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the firm earned $2.07 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts forecast that Advance Auto Parts, Inc. will post 10.66 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be issued a $1.50 dividend. The ex-dividend date is Thursday, April 13th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.93%. Advance Auto Parts’s payout ratio is currently 72.55%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. The Goldman Sachs Group decreased 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 report on Thursday, November 17th. Morgan Stanley cut their price objective on shares of Advance Auto Parts from $165.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 1st. Citigroup cut their price objective on shares of Advance Auto Parts from $159.00 to $153.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 1st. Roth Mkm downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and cut their price objective for the company from $180.00 to $140.00 in a research report on Monday, February 13th. Finally, Roth Capital reiterated a “neutral” rating and issued a $140.00 price objective (down from $180.00) on shares of Advance Auto Parts in a research report on Monday, February 13th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $166.89.

About Advance Auto Parts

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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.

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

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