Hexagon Capital Partners LLC Increases Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Hexagon Capital Partners LLC grew its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 267.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 353 shares of the company’s stock after purchasing an additional 257 shares during the period. Hexagon Capital Partners LLC’s holdings in Advance Auto Parts were worth $30,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. boosted its stake in Advance Auto Parts by 2,716,800.0% during the fourth quarter. Federated Hermes Inc. now owns 842,239 shares of the company’s stock valued at $51,402,000 after buying an additional 842,208 shares during the last quarter. UBS Group AG boosted its position in shares of Advance Auto Parts by 337.7% during the 4th quarter. UBS Group AG now owns 811,734 shares of the company’s stock valued at $49,540,000 after acquiring an additional 626,294 shares during the last quarter. Norges Bank purchased a new position in shares of Advance Auto Parts in the fourth quarter valued at $37,522,000. Jacobs Levy Equity Management Inc. increased its position in Advance Auto Parts by 94.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 931,125 shares of the company’s stock worth $52,078,000 after purchasing an additional 452,488 shares during the last quarter. Finally, Lighthouse Investment Partners LLC raised its stake in Advance Auto Parts by 81.1% during the fourth quarter. Lighthouse Investment Partners LLC now owns 265,682 shares of the company’s stock valued at $16,215,000 after purchasing an additional 118,948 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AAP shares. Truist Financial reduced their target price 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 boosted their price objective on Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Wedbush reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of Advance Auto Parts in a research note on Friday, May 24th. Evercore ISI boosted their target price on Advance Auto Parts from $72.00 to $73.00 and gave the company an “in-line” rating in a research report on Thursday, June 20th. Finally, Mizuho lowered their price target on Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating for the company in a research report on Monday, June 10th. Two investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $64.00.

Advance Auto Parts Trading Down 5.7 %

AAP opened at $59.73 on Tuesday. Advance Auto Parts, Inc. has a 52 week low of $47.73 and a 52 week high of $88.56. The company has a market capitalization of $3.56 billion, a P/E ratio of 86.57, a PEG ratio of 1.22 and a beta of 1.20. The stock’s fifty day moving average is $69.32 and its two-hundred day moving average is $69.43. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 0.70.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Wednesday, May 29th. The company reported $0.67 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 firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. Analysts forecast that Advance Auto Parts, Inc. will post 3.72 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Friday, July 12th. Advance Auto Parts’s dividend payout ratio (DPR) is 144.93%.

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.