Raymond James Trust N.A. Reduces Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Raymond James Trust N.A. lessened its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 10.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,216 shares of the company’s stock after selling 949 shares during the period. Raymond James Trust N.A.’s holdings in Advance Auto Parts were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Mather Group LLC. boosted its position in Advance Auto Parts by 1,241.7% in the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after purchasing an additional 596 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Advance Auto Parts during the second quarter worth $41,000. Blue Trust Inc. grew its position in Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock valued at $47,000 after buying an additional 436 shares during the period. AM Squared Ltd purchased a new position in Advance Auto Parts in the second quarter valued at $63,000. Finally, KBC Group NV raised its position in shares of Advance Auto Parts by 29.1% in the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after acquiring an additional 394 shares during the period. 88.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAP. DA Davidson restated a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a research note on Friday, November 15th. Evercore ISI boosted their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. Truist Financial cut their price target on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a report on Friday, November 15th. Finally, Wells Fargo & Company decreased 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 report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $48.64.

Advance Auto Parts Price Performance

AAP stock opened at $44.44 on Thursday. Advance Auto Parts, Inc. has a 1 year low of $35.59 and a 1 year high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The firm has a market capitalization of $2.65 billion, a PE ratio of 60.06 and a beta of 1.17. The business has a 50 day simple moving average of $39.11 and a 200-day simple moving average of $52.41.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) 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 return on equity of 1.82% and a net margin of 0.41%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business earned ($0.82) earnings per share. Equities research analysts anticipate that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be paid a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. Advance Auto Parts’s dividend payout ratio (DPR) is 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.