State of Alaska Department of Revenue Decreases Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

State of Alaska Department of Revenue trimmed its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,016 shares of the company’s stock after selling 982 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Advance Auto Parts worth $1,326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AAP. Mattern Capital Management LLC increased its holdings in Advance Auto Parts by 67.7% in the 3rd quarter. Mattern Capital Management LLC now owns 7,754 shares of the company’s stock worth $302,000 after buying an additional 3,130 shares in the last quarter. Arkadios Wealth Advisors grew its stake in shares of Advance Auto Parts by 225.0% in the third quarter. Arkadios Wealth Advisors now owns 17,269 shares of the company’s stock worth $673,000 after acquiring an additional 11,956 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Advance Auto Parts in the third quarter worth approximately $17,477,000. Lecap Asset Management Ltd. purchased a new position in shares of Advance Auto Parts during the third quarter valued at approximately $3,304,000. Finally, Everence Capital Management Inc. lifted its position in Advance Auto Parts by 3.7% during the third quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock valued at $325,000 after purchasing an additional 300 shares during the period. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Up 1.6 %

AAP opened at $36.25 on Monday. Advance Auto Parts, Inc. has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 3,625.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.17. The firm’s fifty day moving average is $40.13 and its 200 day moving average is $56.81.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the company earned $1.43 EPS. The business’s revenue was down .1% on a year-over-year basis. On average, sell-side analysts forecast that Advance Auto Parts, Inc. will post 2.19 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Friday, October 11th. Advance Auto Parts’s payout ratio is currently 10,000.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AAP. Truist Financial decreased 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 note on Friday, August 23rd. Evercore ISI reduced their price objective on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a research report on Tuesday, October 22nd. Wedbush raised Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 target price on the stock in a research report on Tuesday, October 15th. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. Finally, TD Cowen lowered their price objective 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. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.92.

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.