Advance Auto Parts, Inc. (NYSE:AAP) Stake Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 8.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,968 shares of the company’s stock after selling 830 shares during the period. Mutual of America Capital Management LLC’s holdings in Advance Auto Parts were worth $350,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Tidal Investments LLC lifted its position in shares of Advance Auto Parts by 12.4% during the 1st quarter. Tidal Investments LLC now owns 14,590 shares of the company’s stock valued at $1,242,000 after acquiring an additional 1,612 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of Advance Auto Parts in the 1st quarter valued at $487,000. GAMMA Investing LLC increased its stake in Advance Auto Parts by 60.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,658 shares of the company’s stock worth $105,000 after purchasing an additional 627 shares in the last quarter. Mather Group LLC. raised its holdings in Advance Auto Parts by 1,241.7% during the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after buying an additional 596 shares during the period. Finally, Simplicity Wealth LLC lifted its stake in Advance Auto Parts by 66.1% during the second quarter. Simplicity Wealth LLC now owns 4,044 shares of the company’s stock valued at $256,000 after buying an additional 1,609 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Stock Performance

Shares of NYSE:AAP opened at $44.44 on Friday. The business has a fifty day moving average of $39.16 and a 200-day moving average of $52.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56. The firm has a market cap of $2.65 billion, a PE ratio of 60.88 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the business posted ($0.82) earnings per share. On average, equities research analysts predict that Advance Auto Parts, Inc. will post -0.51 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD Cowen reduced their price target on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. The Goldman Sachs Group dropped their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. UBS Group upped their target price on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and an average target price of $48.64.

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.