Advance Auto Parts, Inc. (AAP) to Issue Quarterly Dividend of $0.25 on April 26th

Advance Auto Parts, Inc. (NYSE:AAP) announced a quarterly dividend on Tuesday, February 13th, RTT News reports. Investors of record on Friday, April 12th will be paid a dividend of 0.25 per share on Friday, April 26th. This represents a $1.00 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, April 11th.

Advance Auto Parts has raised its dividend by an average of 26.0% annually over the last three years. Advance Auto Parts has a payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Advance Auto Parts to earn $4.59 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 21.8%.

Advance Auto Parts Trading Up 1.0 %

Shares of AAP stock opened at $78.14 on Tuesday. The stock has a market capitalization of $4.66 billion, a PE ratio of 105.59, a P/E/G ratio of 1.40 and a beta of 1.17. Advance Auto Parts has a 1-year low of $47.73 and a 1-year high of $129.90. The business has a 50-day moving average of $73.03 and a 200 day moving average of $62.47. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.29.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.83). The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.88 earnings per share. As a group, sell-side analysts anticipate that Advance Auto Parts will post 3.95 earnings per share for the current year.

Insider Activity at Advance Auto Parts

In related news, EVP Herman L. Word, Jr. sold 1,858 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the transaction, the executive vice president now owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Advance Auto Parts news, Director Brent Windom bought 4,700 shares of Advance Auto Parts stock in a transaction on Wednesday, March 27th. The stock was acquired at an average price of $85.34 per share, with a total value of $401,098.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $853,400. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Herman L. Word, Jr. sold 1,858 shares of Advance Auto Parts stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $86.08, for a total value of $159,936.64. Following the completion of the sale, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

Institutional Trading of Advance Auto Parts

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Advance Auto Parts by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after purchasing an additional 261,715 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Advance Auto Parts by 9.3% in the second quarter. BlackRock Inc. now owns 4,435,265 shares of the company’s stock worth $311,799,000 after acquiring an additional 376,025 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Advance Auto Parts by 53.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,958,241 shares of the company’s stock worth $241,573,000 after acquiring an additional 1,370,550 shares during the period. State Street Corp grew its holdings in shares of Advance Auto Parts by 28.2% in the first quarter. State Street Corp now owns 3,431,787 shares of the company’s stock worth $417,340,000 after acquiring an additional 754,027 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in shares of Advance Auto Parts by 3.6% in the first quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock worth $685,801,000 after acquiring an additional 114,789 shares during the period. Institutional investors own 88.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AAP shares. William Blair reiterated a “market perform” rating on shares of Advance Auto Parts in a report on Wednesday, December 13th. Truist Financial increased their price objective on Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Barclays increased their price objective on Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. TheStreet upgraded Advance Auto Parts from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Finally, Royal Bank of Canada increased their price objective on Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $70.47.

Advance Auto Parts Company 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.