Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,999 shares of the company’s stock after selling 315 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Advance Auto Parts were worth $2,212,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Advance Auto Parts by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,577,372 shares of the company’s stock worth $96,267,000 after acquiring an additional 46,226 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Advance Auto Parts by 94.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 931,125 shares of the company’s stock valued at $52,078,000 after buying an additional 452,488 shares in the last quarter. Capital World Investors raised its stake in Advance Auto Parts by 14.3% during the fourth quarter. Capital World Investors now owns 918,259 shares of the company’s stock valued at $56,041,000 after buying an additional 114,989 shares in the last quarter. Federated Hermes Inc. raised its stake in Advance Auto Parts by 2,716,800.0% during the fourth quarter. Federated Hermes Inc. now owns 842,239 shares of the company’s stock valued at $51,402,000 after buying an additional 842,208 shares in the last quarter. Finally, UBS Group AG raised its stake in Advance Auto Parts by 337.7% during the fourth quarter. UBS Group AG now owns 811,734 shares of the company’s stock valued at $49,540,000 after buying an additional 626,294 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America upped their price objective on Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a research note on Thursday, May 30th. Royal Bank of Canada lowered their target price on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating for the company in a report on Thursday, May 30th. Truist Financial lowered their target price on Advance Auto Parts from $70.00 to $63.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Wedbush reaffirmed a “neutral” rating and set a $70.00 target price on shares of Advance Auto Parts in a report on Friday, May 24th. Finally, UBS Group upped their target price on Advance Auto Parts from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Two equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts presently has a consensus rating of “Hold” and a consensus target price of $63.80.

Advance Auto Parts Price Performance

NYSE AAP traded up $0.05 on Friday, reaching $59.91. 117,839 shares of the stock traded hands, compared to its average volume of 1,704,980. The firm’s fifty day simple moving average is $68.34 and its 200 day simple moving average is $69.29. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 86.75, a P/E/G ratio of 1.15 and a beta of 1.20. Advance Auto Parts, Inc. has a 12 month low of $47.73 and a 12 month high of $88.56.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.43 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. As a group, research analysts predict that Advance Auto Parts, Inc. will post 3.72 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.67%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 144.93%.

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.