Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 43.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,805 shares of the company’s stock after selling 8,297 shares during the quarter. Stifel Financial Corp’s holdings in Advance Auto Parts were worth $421,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pzena Investment Management LLC lifted its stake in Advance Auto Parts by 140.3% during the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after purchasing an additional 1,698,155 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Advance Auto Parts by 76.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock worth $80,197,000 after acquiring an additional 547,696 shares in the last quarter. Dorsal Capital Management LP boosted its holdings in Advance Auto Parts by 159.7% during the 2nd quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock valued at $79,162,000 after acquiring an additional 768,664 shares during the period. Royce & Associates LP grew its position in Advance Auto Parts by 31.7% in the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock valued at $41,937,000 after acquiring an additional 258,656 shares in the last quarter. Finally, Legion Partners Asset Management LLC increased its stake in Advance Auto Parts by 1.7% during the second quarter. Legion Partners Asset Management LLC now owns 786,250 shares of the company’s stock worth $49,793,000 after purchasing an additional 13,300 shares during the period. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Down 0.4 %

Shares of NYSE AAP opened at $44.06 on Friday. The stock has a market cap of $2.63 billion, a PE ratio of 60.36 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 has a 50-day moving average price of $41.12 and a 200 day moving average price of $48.72. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

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 analysts’ consensus estimates of $0.49 by ($0.53). The business had revenue of $2.15 billion for 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 business’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.82) earnings per share. Equities research analysts forecast that Advance Auto Parts, Inc. will post -0.54 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. Stockholders of record on Friday, January 10th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. Advance Auto Parts’s dividend payout ratio (DPR) is 136.99%.

Insider Buying and Selling

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the sale, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAP. Truist Financial dropped their price objective on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a report on Friday, November 15th. BMO Capital Markets started coverage on Advance Auto Parts in a research report on Friday, December 13th. They set a “market perform” rating and a $45.00 price objective on the stock. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. The Goldman Sachs Group reduced their price target on 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. Finally, Evercore ISI boosted their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and a consensus price target of $48.40.

About Advance Auto Parts

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.