Maryland State Retirement & Pension System Has $2.21 Million Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Maryland State Retirement & Pension System lowered its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 1.2% in the first quarter, HoldingsChannel reports. The fund owned 25,999 shares of the company’s stock after selling 315 shares during the period. Maryland State Retirement & Pension System’s holdings in Advance Auto Parts were worth $2,212,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kovack Advisors Inc. increased its stake in Advance Auto Parts by 0.7% in the 1st quarter. Kovack Advisors Inc. now owns 22,727 shares of the company’s stock valued at $1,934,000 after buying an additional 150 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Advance Auto Parts by 8.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,711 shares of the company’s stock worth $165,000 after acquiring an additional 206 shares in the last quarter. Diversified Trust Co boosted its position in Advance Auto Parts by 2.9% during the fourth quarter. Diversified Trust Co now owns 7,462 shares of the company’s stock valued at $455,000 after purchasing an additional 213 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in Advance Auto Parts by 267.7% in the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock valued at $30,000 after purchasing an additional 257 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Advance Auto Parts by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 26,336 shares of the company’s stock worth $1,607,000 after purchasing an additional 260 shares during the last quarter. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Price Performance

NYSE:AAP traded up $0.05 during trading hours on Friday, hitting $59.91. The company’s stock had a trading volume of 117,839 shares, compared to its average volume of 1,704,980. The company has a market capitalization of $3.57 billion, a P/E ratio of 86.75, a PEG ratio of 1.15 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 0.29. The stock has a fifty day simple moving average of $68.34 and a 200-day simple moving average of $69.29. Advance Auto Parts, Inc. has a twelve month low of $47.73 and a twelve month high of $88.56.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Wednesday, May 29th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.02). The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.43 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. Advance Auto Parts’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. On average, analysts anticipate that Advance Auto Parts, Inc. will post 3.72 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. Advance Auto Parts’s payout ratio is presently 144.93%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $70.00 target price on shares of Advance Auto Parts in a research note on Friday, May 24th. UBS Group upped their target price on shares of Advance Auto Parts from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Truist Financial lowered their price target on Advance Auto Parts from $70.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Bank of America increased their price objective on shares of Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada reduced their price target on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating for the company in a research note on Thursday, May 30th. Two investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.80.

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.