California Public Employees Retirement System Has $5.80 Million Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

California Public Employees Retirement System decreased its position in Advance Auto Parts, Inc. (NYSE:AAP) by 15.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,985 shares of the company’s stock after selling 17,345 shares during the period. California Public Employees Retirement System owned about 0.16% of Advance Auto Parts worth $5,797,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. raised its stake in shares of Advance Auto Parts by 2,226.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,026,668 shares of the company’s stock valued at $113,352,000 after purchasing an additional 1,939,560 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Advance Auto Parts by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,531,146 shares of the company’s stock valued at $85,637,000 after acquiring an additional 107,540 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in shares of Advance Auto Parts during the 3rd quarter valued at about $73,882,000. Jacobs Levy Equity Management Inc. raised its position in Advance Auto Parts by 94.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 931,125 shares of the company’s stock worth $52,078,000 after purchasing an additional 452,488 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in Advance Auto Parts by 2,716,800.0% in the fourth quarter. Federated Hermes Inc. now owns 842,239 shares of the company’s stock worth $51,402,000 after purchasing an additional 842,208 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Trading Up 1.9 %

NYSE AAP opened at $76.31 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71. Advance Auto Parts, Inc. has a 12 month low of $47.73 and a 12 month high of $127.31. The company has a market capitalization of $4.55 billion, a PE ratio of 103.12, a P/E/G ratio of 1.36 and a beta of 1.20. The stock has a 50-day simple moving average of $76.99 and a 200 day simple moving average of $65.27.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $2.88 earnings per share. Research analysts forecast that Advance Auto Parts, Inc. will post 3.94 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, April 11th. Advance Auto Parts’s dividend payout ratio is currently 135.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TheStreet upgraded Advance Auto Parts from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. Truist Financial upped their target price on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Royal Bank of Canada lifted their price target on shares of Advance Auto Parts from $47.00 to $68.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Mizuho assumed coverage on shares of Advance Auto Parts in a research note on Tuesday, March 19th. They set a “neutral” rating and a $78.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Advance Auto Parts presently has an average rating of “Hold” and a consensus price target of $64.56.

Insider Buying and Selling

In other Advance Auto Parts news, Director Carla Jean Bailo purchased 310 shares of the stock in a transaction on Monday, March 18th. The stock was bought at an average cost of $81.19 per share, for a total transaction of $25,168.90. Following the completion of the acquisition, the director now directly owns 5,789 shares of the company’s stock, valued at $470,008.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Carla Jean Bailo purchased 310 shares of the business’s stock in a transaction on Monday, March 18th. The shares were purchased at an average price of $81.19 per share, with a total value of $25,168.90. Following the completion of the purchase, the director now owns 5,789 shares in the company, valued at approximately $470,008.91. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brent Windom acquired 4,700 shares of the stock in a transaction dated Wednesday, March 27th. The shares were bought at an average cost of $85.34 per share, with a total value of $401,098.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $853,400. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by company insiders.

Advance Auto Parts Profile

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.