Advance Auto Parts, Inc. (NYSE:AAP) to Issue Quarterly Dividend of $0.25

Advance Auto Parts, Inc. (NYSE:AAP) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Friday, April 11th will be given a dividend of 0.25 per share on Friday, April 25th. This represents a $1.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, April 11th.

Advance Auto Parts has decreased its dividend payment by an average of 32.5% annually over the last three years. Advance Auto Parts has a payout ratio of 34.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Advance Auto Parts to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 63.7%.

Advance Auto Parts Stock Performance

NYSE AAP traded down $0.75 during trading on Thursday, reaching $36.96. The company’s stock had a trading volume of 4,856,221 shares, compared to its average volume of 2,096,786. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 50.62, a P/E/G ratio of 1.98 and a beta of 1.15. Advance Auto Parts has a twelve month low of $35.59 and a twelve month high of $88.56. The business’s fifty day moving average price is $46.11 and its 200-day moving average price is $43.93.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the sale, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AAP. BMO Capital Markets dropped their price objective on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research note on Thursday. Citigroup lowered their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday. DA Davidson reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Wells Fargo & Company lifted their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Truist Financial decreased their price objective on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts presently has an average rating of “Hold” and an average price target of $46.69.

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.