Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 90.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,324 shares of the company’s stock after selling 12,531 shares during the quarter. US Bancorp DE’s holdings in Advance Auto Parts were worth $52,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new position in Advance Auto Parts in the 1st quarter valued at $34,000. Sei Investments Co. lifted its holdings in Advance Auto Parts by 0.6% in the first quarter. Sei Investments Co. now owns 59,402 shares of the company’s stock valued at $5,055,000 after acquiring an additional 352 shares during the last quarter. Bleakley Financial Group LLC acquired a new stake in shares of Advance Auto Parts during the first quarter valued at about $207,000. State Board of Administration of Florida Retirement System lifted its stake in Advance Auto Parts by 24.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 77,031 shares of the company’s stock worth $6,555,000 after purchasing an additional 15,093 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Advance Auto Parts in the 1st quarter valued at about $1,047,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Wall Street Analysts Forecast Growth

AAP has been the subject of several recent research reports. UBS Group raised their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday. DA Davidson restated a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a research note on Friday. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a report on Friday. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $49.14.

Advance Auto Parts Price Performance

AAP stock opened at $37.69 on Monday. The stock’s 50 day moving average price is $39.02 and its 200 day moving average price is $54.11. Advance Auto Parts, Inc. has a 1 year low of $35.59 and a 1 year high of $88.56. The firm has a market cap of $2.25 billion, a P/E ratio of 51.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.34.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, November 14th. The company reported ($0.04) EPS 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 firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the firm posted ($0.82) earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts expect that Advance Auto Parts, Inc. will post 2.26 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders 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 yield of 2.65%. Advance Auto Parts’s dividend payout ratio is presently 136.99%.

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.