Bank of Montreal Can Has $1.19 Million Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Bank of Montreal Can cut its position in Advance Auto Parts, Inc. (NYSE:AAP) by 69.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,341 shares of the company’s stock after selling 41,104 shares during the quarter. Bank of Montreal Can’s holdings in Advance Auto Parts were worth $1,186,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms have commented on AAP. Wedbush restated a “neutral” rating and set a $55.00 price objective (down previously from $65.00) on shares of Advance Auto Parts in a research note on Friday, August 23rd. TD Cowen dropped their price target on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. Wells Fargo & Company reduced their price objective on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Truist Financial dropped 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 research report on Friday, August 23rd. Finally, Evercore ISI reduced their price target on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” 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 assigned a hold rating to the company. Based on data from MarketBeat, Advance Auto Parts has a consensus rating of “Hold” and an average price target of $56.54.

Advance Auto Parts Trading Down 0.5 %

NYSE AAP opened at $38.69 on Friday. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 56.07, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. Advance Auto Parts, Inc. has a twelve month low of $36.40 and a twelve month high of $88.56. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average is $48.82 and its 200 day moving average is $62.77.

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

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.58%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 144.93%.

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.