Crossmark Global Holdings Inc. Has $387,000 Position in Advance Auto Parts, Inc. (NYSE:AAP)

Crossmark Global Holdings Inc. grew its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 45.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,909 shares of the company’s stock after buying an additional 3,088 shares during the period. Crossmark Global Holdings Inc.’s holdings in Advance Auto Parts were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Diversified Trust Co increased its position in Advance Auto Parts by 3.5% during the 2nd quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock valued at $430,000 after purchasing an additional 232 shares during the period. OLD National Bancorp IN increased its position in shares of Advance Auto Parts by 6.8% during the second quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock worth $234,000 after buying an additional 237 shares during the period. Sei Investments Co. lifted its holdings in Advance Auto Parts by 0.5% in the second quarter. Sei Investments Co. now owns 59,679 shares of the company’s stock valued at $3,779,000 after buying an additional 277 shares during the period. Qsemble Capital Management LP boosted its position in Advance Auto Parts by 7.6% during the second quarter. Qsemble Capital Management LP now owns 4,036 shares of the company’s stock valued at $256,000 after acquiring an additional 285 shares during the last quarter. Finally, Everence Capital Management Inc. grew its holdings in Advance Auto Parts by 3.7% during the 3rd quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock worth $325,000 after acquiring an additional 300 shares during the period. 88.75% of the stock is currently owned by institutional investors.

Advance Auto Parts Price Performance

AAP stock opened at $37.69 on Monday. The company has a market capitalization of $2.25 billion, a P/E ratio of 51.63 and a beta of 1.17. Advance Auto Parts, Inc. has a 52-week low of $35.59 and a 52-week high of $88.56. The business has a 50-day simple moving average of $39.02 and a two-hundred day simple moving average of $54.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.34.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) 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 company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the company posted ($0.82) EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts expect that Advance Auto Parts, Inc. will post 2.26 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s payout ratio is currently 136.99%.

Analysts Set New Price Targets

Several brokerages recently commented on AAP. Evercore ISI cut their target price on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. Truist Financial cut their price target on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Roth Mkm reiterated a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a research report on Wednesday, October 16th. Finally, Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a report on Friday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.14.

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.