AQR Capital Management LLC Purchases 55,226 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

AQR Capital Management LLC grew its position in Advance Auto Parts, Inc. (NYSE:AAP) by 31.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 233,521 shares of the company’s stock after buying an additional 55,226 shares during the period. AQR Capital Management LLC owned approximately 0.39% of Advance Auto Parts worth $14,740,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Third Point LLC purchased a new position in Advance Auto Parts in the 1st quarter worth approximately $127,234,000. Capital World Investors lifted its holdings in shares of Advance Auto Parts by 67.0% during the first quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock valued at $130,522,000 after purchasing an additional 615,674 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Advance Auto Parts by 76.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after buying an additional 547,696 shares during the last quarter. Anchor Capital Advisors LLC bought a new stake in Advance Auto Parts in the 1st quarter worth about $34,332,000. Finally, BW Gestao de Investimentos Ltda. bought a new stake in Advance Auto Parts in the 2nd quarter worth about $7,916,000. Institutional investors own 88.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Mizuho reaffirmed a “neutral” rating and set a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. TD Cowen decreased their target price on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. Wedbush reissued a “neutral” rating and set a $55.00 price target (down from $65.00) on shares of Advance Auto Parts in a report on Friday, August 23rd. Wells Fargo & Company cut their price objective on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Truist Financial lowered their target price on Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. One 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.54.

Advance Auto Parts Stock Down 3.1 %

AAP stock opened at $37.77 on Wednesday. The business’s 50-day moving average price is $50.56 and its 200-day moving average price is $63.90. The stock has a market cap of $2.25 billion, a P/E ratio of 54.74, a PEG ratio of 1.32 and a beta of 1.17. Advance Auto Parts, Inc. has a twelve month low of $37.51 and a twelve month high of $88.56. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.43 earnings per share. On average, equities research analysts forecast that Advance Auto Parts, Inc. will post 2.19 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts’s payout ratio is presently 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.