Public Sector Pension Investment Board Buys 9,965 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Public Sector Pension Investment Board grew its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,123 shares of the company’s stock after buying an additional 9,965 shares during the period. Public Sector Pension Investment Board owned approximately 0.22% of Advance Auto Parts worth $8,304,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AAP. Principal Securities Inc. bought a new position in Advance Auto Parts during the 4th quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its stake in shares of Advance Auto Parts by 267.7% in the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after buying an additional 257 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Advance Auto Parts during the 1st quarter valued at $34,000. Mather Group LLC. boosted its position in Advance Auto Parts by 1,241.7% during 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 period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Advance Auto Parts in the 2nd quarter worth $41,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $40.91 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The company has a 50 day simple moving average of $52.25 and a two-hundred day simple moving average of $64.98. Advance Auto Parts, Inc. has a fifty-two week low of $37.51 and a fifty-two week high of $88.56. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 59.29, a P/E/G ratio of 1.26 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Analysts expect that Advance Auto Parts, Inc. will post 2.19 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s dividend payout ratio (DPR) is 144.93%.

Analyst Ratings Changes

A number of analysts have recently weighed in on AAP shares. Truist Financial dropped 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 report on Friday, August 23rd. StockNews.com raised Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Bank of America raised their price target on Advance Auto Parts from $51.00 to $55.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. TD Cowen reduced their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Finally, UBS Group raised their target price on shares of Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.54.

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.