Public Employees Retirement Association of Colorado Sells 248 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Public Employees Retirement Association of Colorado cut its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,329 shares of the company’s stock after selling 248 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Advance Auto Parts were worth $401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AAP. Hexagon Capital Partners LLC boosted its holdings in shares of Advance Auto Parts by 267.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock valued at $30,000 after purchasing an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Advance Auto Parts during the first quarter valued at approximately $34,000. Mather Group LLC. boosted its stake in Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after buying an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Advance Auto Parts in the 2nd quarter worth approximately $41,000. Finally, Quarry LP raised its holdings in shares of Advance Auto Parts by 285.7% during the 4th quarter. Quarry LP now owns 702 shares of the company’s stock worth $43,000 after acquiring an additional 520 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors.

Advance Auto Parts Price Performance

AAP opened at $41.38 on Friday. The business has a fifty day moving average of $50.97 and a 200 day moving average of $64.39. The stock has a market cap of $2.47 billion, a P/E ratio of 59.97, a PEG ratio of 1.32 and a beta of 1.17. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 52-week low of $37.51 and a 52-week high of $88.56.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 earnings per share. As a group, sell-side analysts anticipate that Advance Auto Parts, Inc. will post 2.19 EPS for the current year.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.42%. Advance Auto Parts’s dividend payout ratio is currently 144.93%.

Analyst Ratings Changes

AAP has been the subject of a number of recent research reports. Truist Financial cut their target price on shares of Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating for the company in a report on Friday, August 23rd. Mizuho restated a “neutral” rating and issued a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Evercore ISI lowered their price target on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. dropped their price target 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, TD Cowen decreased their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.54.

Advance Auto Parts Company 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.