Vanguard Personalized Indexing Management LLC Has $345,000 Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Vanguard Personalized Indexing Management LLC trimmed its position in Advance Auto Parts, Inc. (NYSE:AAP) by 20.7% during the second quarter, Holdings Channel reports. The institutional investor owned 5,449 shares of the company’s stock after selling 1,420 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Advance Auto Parts were worth $345,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Third Point LLC bought a new position in Advance Auto Parts in the first quarter valued at about $127,234,000. Capital World Investors boosted its stake in shares of Advance Auto Parts by 67.0% in the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock valued at $130,522,000 after purchasing an additional 615,674 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Advance Auto Parts by 76.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock worth $80,197,000 after buying an additional 547,696 shares during the period. Anchor Capital Advisors LLC bought a new stake in shares of Advance Auto Parts during the first quarter worth approximately $34,332,000. Finally, BW Gestao de Investimentos Ltda. acquired a new position in Advance Auto Parts in the second quarter valued at approximately $7,916,000. 88.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AAP. Wells Fargo & Company decreased their price objective on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Wedbush restated a “neutral” rating and set a $55.00 target price (down from $65.00) on shares of Advance Auto Parts in a research report on Friday, August 23rd. Truist Financial cut their price target on shares of Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. TD Cowen decreased their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.54.

Advance Auto Parts Stock Up 2.9 %

Advance Auto Parts stock opened at $41.38 on Friday. Advance Auto Parts, Inc. has a fifty-two week low of $37.51 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The firm’s 50-day simple moving average is $50.97 and its 200 day simple moving average is $64.29. The stock has a market cap of $2.47 billion, a PE ratio of 59.97, a price-to-earnings-growth ratio of 1.32 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 (EPS) 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 analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the business earned $1.43 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts predict that Advance Auto Parts, Inc. will post 2.19 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Friday, October 11th. Advance Auto Parts’s payout ratio 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.