Thrivent Financial for Lutherans Lowers Position in Advance Auto Parts, Inc. (NYSE:AAP)

Thrivent Financial for Lutherans cut its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,821 shares of the company’s stock after selling 2,663 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Advance Auto Parts worth $1,826,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. boosted its holdings in shares of 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 in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Advance Auto Parts during the 2nd quarter valued at about $41,000. Blue Trust Inc. boosted its stake in Advance Auto Parts by 98.7% during the second quarter. Blue Trust Inc. now owns 769 shares of the company’s stock worth $49,000 after acquiring an additional 382 shares in the last quarter. AM Squared Ltd purchased a new stake in Advance Auto Parts in the second quarter worth about $63,000. Finally, GAMMA Investing LLC increased its stake in shares of Advance Auto Parts by 60.8% during the second quarter. GAMMA Investing LLC now owns 1,658 shares of the company’s stock valued at $105,000 after purchasing an additional 627 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on AAP. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research report on Friday, November 15th. JPMorgan Chase & Co. dropped their target price on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Roth Mkm restated a “neutral” rating and set a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. Mizuho reiterated a “neutral” rating and issued a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group cut their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.64.

Advance Auto Parts Price Performance

NYSE AAP opened at $44.44 on Friday. 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 1-year low of $35.59 and a 1-year high of $88.56. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 60.88 and a beta of 1.17. The business’s fifty day moving average price is $39.16 and its 200-day moving average price is $52.35.

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

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.25%. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

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.