Mutual of America Capital Management LLC Sells 830 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Mutual of America Capital Management LLC cut its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,968 shares of the company’s stock after selling 830 shares during the period. Mutual of America Capital Management LLC’s holdings in Advance Auto Parts were worth $350,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Royce & Associates LP increased its position in shares of Advance Auto Parts by 31.7% during the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock valued at $41,937,000 after purchasing an additional 258,656 shares during the last quarter. KBC Group NV increased its position in Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after acquiring an additional 394 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Advance Auto Parts during the third quarter valued at $324,000. Victory Capital Management Inc. raised its stake in shares of Advance Auto Parts by 24.9% in the third quarter. Victory Capital Management Inc. now owns 56,016 shares of the company’s stock valued at $2,184,000 after acquiring an additional 11,183 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Advance Auto Parts in the 3rd quarter worth about $781,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AAP shares. JPMorgan Chase & Co. dropped their price objective on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Royal Bank of Canada lowered their price target on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Monday, November 11th. TD Cowen decreased their target price on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. Finally, Mizuho reiterated a “neutral” rating and set a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.64.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $44.44 on Friday. The company’s 50-day moving average price is $39.16 and its 200 day moving average price is $52.35. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 60.88 and a beta of 1.17. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 52 week low of $35.59 and a 52 week high of $88.56.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). The company had revenue of $2.15 billion during 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 for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.82) EPS. As a group, research analysts forecast that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current fiscal 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. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s dividend payout ratio (DPR) 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.