Vanguard Group Inc. Cuts Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Vanguard Group Inc. reduced its position in Advance Auto Parts, Inc. (NYSE:AAP – Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,774,185 shares of the company’s stock after selling 54,908 shares during the quarter. Vanguard Group Inc. owned approximately 11.36% of Advance Auto Parts worth $576,415,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kovack Advisors Inc. increased its holdings in Advance Auto Parts by 0.7% during the 1st quarter. Kovack Advisors Inc. now owns 22,727 shares of the company’s stock worth $1,934,000 after purchasing an additional 150 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of Advance Auto Parts by 28.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 895 shares of the company’s stock worth $76,000 after buying an additional 196 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Advance Auto Parts by 8.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,711 shares of the company’s stock worth $165,000 after buying an additional 206 shares during the period. Hexagon Capital Partners LLC raised its holdings in Advance Auto Parts by 267.7% in the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock valued at $30,000 after acquiring an additional 257 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC lifted its stake in Advance Auto Parts by 57.5% in the first quarter. SYSTM Wealth Solutions LLC now owns 707 shares of the company’s stock worth $60,000 after acquiring an additional 258 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Mizuho cut their price target on Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating on the stock in a research note on Monday, June 10th. Wedbush reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Advance Auto Parts in a research report on Friday, May 24th. UBS Group raised their target price on Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Finally, Truist Financial lowered their price target on Advance Auto Parts from $70.00 to $63.00 and set a “hold” rating for the company in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $64.64.

Get Our Latest Stock Report on Advance Auto Parts

Advance Auto Parts Trading Up 0.9 %

NYSE AAP opened at $60.74 on Friday. The firm’s fifty day moving average is $64.08 and its two-hundred day moving average is $69.24. Advance Auto Parts, Inc. has a one year low of $47.73 and a one year high of $88.56. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.29 and a current ratio of 1.22. The firm has a market cap of $3.62 billion, a PE ratio of 88.03, a P/E/G ratio of 1.14 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP – Get Free Report) last issued its quarterly earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.02). Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the firm earned $0.72 EPS. The business’s revenue was down .3% on a year-over-year basis. Analysts expect that Advance Auto Parts, Inc. will post 3.7 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.65%. Advance Auto Parts’s dividend payout ratio (DPR) is 144.93%.

Advance Auto Parts Profile

(Free Report)

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.