Victory Capital Management Inc. Buys 11,183 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Victory Capital Management Inc. increased its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 24.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,016 shares of the company’s stock after buying an additional 11,183 shares during the period. Victory Capital Management Inc. owned about 0.09% of Advance Auto Parts worth $2,184,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AAP. Mather Group LLC. boosted its position in Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after purchasing an additional 596 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Advance Auto Parts during the 2nd quarter valued at about $41,000. Blue Trust Inc. increased its holdings in Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after buying an additional 436 shares during the period. AM Squared Ltd acquired a new stake in shares of Advance Auto Parts in the second quarter worth $63,000. Finally, City State Bank purchased a new stake in Advance Auto Parts in the third quarter valued at $78,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

Shares of AAP stock opened at $40.79 on Monday. The firm’s 50-day moving average is $39.02 and its two-hundred day moving average is $52.86. The company has a market capitalization of $2.44 billion, a PE ratio of 55.88 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. Advance Auto Parts, Inc. has a 12 month low of $35.59 and a 12 month high of $88.56.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the company posted ($0.82) earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. Analysts predict that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s payout ratio is 136.99%.

Wall Street Analysts Forecast Growth

AAP has been the topic of several recent research reports. DA Davidson restated a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. JPMorgan Chase & Co. lowered their price target on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Truist Financial reduced their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company cut their price target on shares of 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, Wedbush reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.64.

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.