Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by State Street Corp

State Street Corp cut its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,143,300 shares of the company’s stock after selling 149,008 shares during the quarter. State Street Corp’s holdings in Advance Auto Parts were worth $83,567,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. increased its stake in Advance Auto Parts by 0.5% during the second quarter. Sei Investments Co. now owns 59,679 shares of the company’s stock worth $3,779,000 after acquiring an additional 277 shares during the last quarter. Qsemble Capital Management LP boosted its position in shares of Advance Auto Parts by 7.6% in the second quarter. Qsemble Capital Management LP now owns 4,036 shares of the company’s stock worth $256,000 after buying an additional 285 shares during the period. Everence Capital Management Inc. boosted its position in shares of Advance Auto Parts by 3.7% in the third quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock worth $325,000 after buying an additional 300 shares during the period. Arizona State Retirement System boosted its position in shares of Advance Auto Parts by 2.0% in the second quarter. Arizona State Retirement System now owns 16,687 shares of the company’s stock worth $1,057,000 after buying an additional 334 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Advance Auto Parts by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 13,127 shares of the company’s stock worth $831,000 after buying an additional 369 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Up 0.3 %

Shares of Advance Auto Parts stock opened at $43.98 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The business’s 50 day simple moving average is $40.34 and its 200-day simple moving average is $49.75. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 60.25 and a beta of 1.21. 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 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). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the business earned ($0.82) earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Advance Auto Parts, Inc. will post -0.54 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

Analysts Set New Price Targets

AAP has been the subject of several analyst reports. Truist Financial decreased their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Friday, November 15th. DA Davidson reissued a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. Roth Capital raised Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. Finally, Evercore ISI increased their price target on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and a consensus target price of $48.40.

Insider Activity at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the sale, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by insiders.

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.