Louisiana State Employees Retirement System Sells 1,200 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Louisiana State Employees Retirement System decreased its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,800 shares of the company’s stock after selling 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Advance Auto Parts were worth $1,123,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AAP. International Assets Investment Management LLC acquired a new position in shares of Advance Auto Parts during the third quarter worth $17,477,000. Lecap Asset Management Ltd. acquired a new position in Advance Auto Parts in the 3rd quarter worth about $3,304,000. Everence Capital Management Inc. raised its position in Advance Auto Parts by 3.7% in the third quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock valued at $325,000 after purchasing an additional 300 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Advance Auto Parts by 11.7% during the third quarter. Raymond James & Associates now owns 106,475 shares of the company’s stock valued at $4,151,000 after purchasing an additional 11,169 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after purchasing an additional 436 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial cut their target price 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 cut their price target on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Roth Mkm restated a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a report on Wednesday, October 16th. Roth Capital raised Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. Finally, Evercore ISI reduced their price target on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $55.92.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $36.25 on Friday. The firm has a 50 day moving average of $40.13 and a 200-day moving average of $56.92. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 3,625.00, a price-to-earnings-growth ratio of 1.17 and a beta of 1.16. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 52 week low of $35.59 and a 52 week high of $88.56.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts forecast that Advance Auto Parts, Inc. will post 2.19 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Friday, October 11th. Advance Auto Parts’s payout ratio is 10,000.00%.

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.