Texas Permanent School Fund Corp Sells 7,426 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Texas Permanent School Fund Corp reduced its position in Advance Auto Parts, Inc. (NYSE:AAP) by 14.4% during the second quarter, Holdings Channel reports. The institutional investor owned 44,240 shares of the company’s stock after selling 7,426 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Advance Auto Parts were worth $2,802,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AAP. Principal Securities Inc. acquired a new stake in Advance Auto Parts in the 4th quarter worth approximately $27,000. Hexagon Capital Partners LLC raised its position in Advance Auto Parts by 267.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after buying an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Advance Auto Parts during the 1st quarter worth approximately $34,000. Mather Group LLC. raised its position in Advance Auto Parts by 1,241.7% during the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after buying an additional 596 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Advance Auto Parts during the 2nd quarter worth approximately $41,000. 88.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AAP has been the subject of a number of recent research reports. Wedbush reissued a “neutral” rating and set a $55.00 price target (down from $65.00) on shares of Advance Auto Parts in a research report on Friday, August 23rd. UBS Group lifted their target price on shares of Advance Auto Parts from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. TD Cowen cut their target price on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 23rd. Bank of America lifted their target price on shares of Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a report on Thursday, May 30th. Finally, Mizuho reaffirmed a “neutral” rating and set a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a report on Thursday. One investment analyst has rated the stock with a sell rating and fourteen have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.54.

Advance Auto Parts Price Performance

AAP stock opened at $41.43 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The business has a 50 day simple moving average of $55.00 and a 200-day simple moving average of $66.45. Advance Auto Parts, Inc. has a twelve month low of $37.51 and a twelve month high of $88.56. The company has a market capitalization of $2.47 billion, a P/E ratio of 60.04, a PEG ratio of 1.26 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the business earned $1.43 earnings per share. Advance Auto Parts’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities analysts anticipate that Advance Auto Parts, Inc. will post 2.19 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, October 11th. Advance Auto Parts’s payout ratio is 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.