Crossmark Global Holdings Inc. Buys 3,088 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Crossmark Global Holdings Inc. lifted its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 45.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,909 shares of the company’s stock after acquiring an additional 3,088 shares during the period. Crossmark Global Holdings Inc.’s holdings in Advance Auto Parts were worth $387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Advance Auto Parts during the 1st quarter worth approximately $34,000. Mather Group LLC. increased its stake in Advance Auto Parts by 1,241.7% in the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after buying an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Advance Auto Parts during the 2nd quarter worth about $41,000. Blue Trust Inc. raised its holdings in Advance Auto Parts by 98.7% during the second quarter. Blue Trust Inc. now owns 769 shares of the company’s stock worth $49,000 after acquiring an additional 382 shares in the last quarter. Finally, AM Squared Ltd acquired a new position in Advance Auto Parts during the second quarter valued at approximately $63,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Down 8.5 %

AAP stock opened at $37.69 on Monday. The company has a market cap of $2.25 billion, a PE ratio of 51.63 and a beta of 1.17. The company has a quick ratio of 0.30, a current ratio of 1.34 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. The business has a 50-day simple moving average of $39.02 and a 200 day simple moving average of $54.11.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business earned ($0.82) earnings per share. Sell-side analysts anticipate that Advance Auto Parts, Inc. will post 2.26 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AAP. JPMorgan Chase & Co. cut their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. DA Davidson reiterated a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a research note on Friday. Roth Capital raised Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research report on Friday. Finally, Evercore ISI decreased their target price on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $49.14.

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.