Quarry LP Acquires 520 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Quarry LP boosted its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 285.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 702 shares of the company’s stock after acquiring an additional 520 shares during the quarter. Quarry LP’s holdings in Advance Auto Parts were worth $43,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AAP. Allworth Financial LP lifted its stake in Advance Auto Parts by 190.0% during the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after acquiring an additional 266 shares in the last quarter. Principal Securities Inc. purchased a new stake in Advance Auto Parts in the 4th quarter valued at about $27,000. GAMMA Investing LLC bought a new position in shares of Advance Auto Parts during the 4th quarter worth approximately $63,000. Quadrant Capital Group LLC boosted its stake in shares of Advance Auto Parts by 8.2% in the 4th 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 last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Advance Auto Parts by 22.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,508 shares of the company’s stock valued at $196,000 after acquiring an additional 635 shares during the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $63.42 on Monday. Advance Auto Parts, Inc. has a fifty-two week low of $47.73 and a fifty-two week 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 stock has a market cap of $3.78 billion, a P/E ratio of 91.91, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20. The firm’s fifty day moving average price is $71.86 and its 200-day moving average price is $68.86.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts expect that Advance Auto Parts, Inc. will post 3.72 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Friday, July 12th. Advance Auto Parts’s payout ratio is currently 144.93%.

Insiders Place Their Bets

In other Advance Auto Parts news, Director Brent Windom acquired 4,700 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was bought at an average price of $85.34 per share, with a total value of $401,098.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $853,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Herman L. Word, Jr. sold 1,858 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the sale, the executive vice president now directly owns 10,448 shares in the company, valued at approximately $899,363.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brent Windom purchased 4,700 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was bought at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $853,400. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Truist Financial cut their price target on shares of Advance Auto Parts from $70.00 to $63.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. UBS Group upped their price target on Advance Auto Parts from $68.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Mizuho lowered their price objective 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. StockNews.com upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.93.

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.