Fifth Third Bancorp Sells 1,087 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Fifth Third Bancorp lowered its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,022 shares of the company’s stock after selling 1,087 shares during the period. Fifth Third Bancorp’s holdings in Advance Auto Parts were worth $427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc raised its position in Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after purchasing an additional 365 shares during the period. Blue Trust Inc. increased its holdings in shares of Advance Auto Parts by 56.7% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after buying an additional 436 shares during the period. KBC Group NV increased its holdings 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 buying an additional 394 shares during the period. GAMMA Investing LLC lifted its stake in shares of Advance Auto Parts by 198.3% in the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock valued at $74,000 after acquiring an additional 1,047 shares during the last quarter. Finally, City State Bank purchased a new stake in Advance Auto Parts during the 3rd quarter valued at about $78,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AAP shares. Roth Mkm reiterated a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a research report on Wednesday, October 16th. Royal Bank of Canada dropped their price target on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. UBS Group boosted their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. DA Davidson reiterated a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Finally, Truist Financial cut their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. One 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.93.

Advance Auto Parts Stock Up 2.1 %

Shares of Advance Auto Parts stock opened at $49.77 on Friday. The company has a 50-day moving average of $45.27 and a 200 day moving average of $45.99. Advance Auto Parts, Inc. has a 1 year low of $35.59 and a 1 year high of $88.56. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 68.18, a PEG ratio of 2.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results 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). The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. Advance Auto Parts’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.82) earnings per share. As a group, sell-side analysts anticipate that Advance Auto Parts, Inc. will post -0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the sale, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.35% of the company’s stock.

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.