UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Advance Auto Parts, Inc. (NYSE:AAPFree Report) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,158 shares of the company’s stock after selling 17,693 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.25% of Advance Auto Parts worth $5,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FORA Capital LLC purchased a new stake in Advance Auto Parts in the third quarter valued at approximately $2,144,000. Blueshift Asset Management LLC raised its stake in shares of Advance Auto Parts by 20.1% during the third quarter. Blueshift Asset Management LLC now owns 7,094 shares of the company’s stock worth $277,000 after purchasing an additional 1,188 shares during the last quarter. Goodman Financial Corp raised its stake in shares of Advance Auto Parts by 34.0% during the third quarter. Goodman Financial Corp now owns 235,379 shares of the company’s stock worth $9,178,000 after purchasing an additional 59,676 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Advance Auto Parts by 564.6% during the third quarter. Quantbot Technologies LP now owns 23,887 shares of the company’s stock worth $931,000 after purchasing an additional 20,293 shares during the last quarter. Finally, Qsemble Capital Management LP raised its stake in shares of Advance Auto Parts by 1,244.9% during the third quarter. Qsemble Capital Management LP now owns 54,281 shares of the company’s stock worth $2,116,000 after purchasing an additional 50,245 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Insider Buying and Selling

In related news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Royal Bank of Canada cut their price target on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. Wedbush restated an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. Evercore ISI upped their price target on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Finally, Truist Financial cut their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.64.

Read Our Latest Analysis on AAP

Advance Auto Parts Stock Down 0.8 %

AAP opened at $47.07 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market cap of $2.81 billion, a P/E ratio of 64.48 and a beta of 1.21. Advance Auto Parts, Inc. has a 52 week low of $35.59 and a 52 week high of $88.56. The business’s fifty day simple moving average is $39.87 and its 200 day simple moving average is $50.40.

Advance Auto Parts (NYSE:AAPGet Free Report) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.82) EPS. As a group, equities research analysts anticipate that Advance Auto Parts, Inc. will post -0.51 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s payout ratio is currently 136.99%.

Advance Auto Parts Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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