Fmr LLC Has $162.83 Million Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Fmr LLC reduced its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,176,234 shares of the company’s stock after selling 28,337 shares during the period. Fmr LLC owned 7.00% of Advance Auto Parts worth $162,831,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Qsemble Capital Management LP grew its position in shares of Advance Auto Parts by 1,244.9% during the 3rd quarter. Qsemble Capital Management LP now owns 54,281 shares of the company’s stock worth $2,116,000 after buying an additional 50,245 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in Advance Auto Parts by 19.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 78,108 shares of the company’s stock worth $3,045,000 after acquiring an additional 12,704 shares in the last quarter. Studio Investment Management LLC grew its holdings in Advance Auto Parts by 41.4% in the third quarter. Studio Investment Management LLC now owns 5,207 shares of the company’s stock worth $203,000 after purchasing an additional 1,524 shares during the period. Pzena Investment Management LLC increased its stake in Advance Auto Parts by 140.3% in the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after purchasing an additional 1,698,155 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Advance Auto Parts during the third quarter valued at about $14,684,000. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $42.65 on Wednesday. The company has a market capitalization of $2.55 billion, a PE ratio of 58.43 and a beta of 1.21. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average price is $39.28 and its 200-day moving average price is $51.28. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56.

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

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s payout ratio is 136.99%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AAP. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. Truist Financial reduced their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Friday, November 15th. DA Davidson reaffirmed a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. The Goldman Sachs Group reduced their price target on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, UBS Group upped their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and a consensus target price of $48.64.

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.