Annandale Capital LLC Purchases 24,100 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Annandale Capital LLC raised its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 52.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,865 shares of the company’s stock after acquiring an additional 24,100 shares during the quarter. Annandale Capital LLC owned about 0.12% of Advance Auto Parts worth $4,425,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Advance Auto Parts during the 2nd quarter worth approximately $7,916,000. Renaissance Technologies LLC increased its position in Advance Auto Parts by 26.9% in the 2nd quarter. Renaissance Technologies LLC now owns 185,450 shares of the company’s stock valued at $11,745,000 after buying an additional 39,300 shares in the last quarter. Private Advisor Group LLC acquired a new position in Advance Auto Parts during the 1st quarter worth approximately $1,172,000. State Board of Administration of Florida Retirement System boosted its holdings in Advance Auto Parts by 24.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 77,031 shares of the company’s stock worth $6,555,000 after acquiring an additional 15,093 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in Advance Auto Parts in the first quarter valued at approximately $207,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wedbush reiterated a “neutral” rating and issued a $55.00 target price (down from $65.00) on shares of Advance Auto Parts in a report on Friday, August 23rd. Evercore ISI dropped their price objective on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating on the stock in a research note on Friday, August 23rd. Truist Financial decreased their target price on shares of Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. JPMorgan Chase & Co. lowered 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. Finally, Wells Fargo & Company cut their price target 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. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts presently has a consensus rating of “Hold” and a consensus target price of $56.54.

Advance Auto Parts Stock Up 2.9 %

Advance Auto Parts stock opened at $41.38 on Friday. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $2.47 billion, a P/E ratio of 59.97, a P/E/G ratio of 1.32 and a beta of 1.17. The firm has a 50 day moving average price of $50.97 and a 200-day moving average price of $64.29. Advance Auto Parts, Inc. has a twelve month low of $37.51 and a twelve month high of $88.56.

Advance Auto Parts (NYSE:AAP) last issued its 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 net margin of 0.01% and a return on equity of 0.05%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities analysts predict that Advance Auto Parts, Inc. will post 2.19 EPS for the current year.

Advance Auto Parts Announces Dividend

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