Advance Auto Parts, Inc. (NYSE:AAP) Stake Reduced by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 5.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,547 shares of the company’s stock after selling 278 shares during the period. Advisors Asset Management Inc.’s holdings in Advance Auto Parts were worth $177,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Mather Group LLC. raised its position in shares of Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after purchasing an additional 596 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Advance Auto Parts during the 2nd quarter worth about $41,000. Blue Trust Inc. lifted its stake in Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock valued at $47,000 after buying an additional 436 shares in the last quarter. AM Squared Ltd acquired a new position in shares of Advance Auto Parts in the second quarter worth about $63,000. Finally, KBC Group NV increased its position 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 acquiring an additional 394 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Stock Down 7.0 %

Shares of AAP stock opened at $41.35 on Friday. Advance Auto Parts, Inc. has a one year low of $35.59 and a one year high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The stock has a fifty day moving average price of $39.20 and a 200 day moving average price of $52.30. The stock has a market cap of $2.47 billion, a P/E ratio of 56.59 and a beta of 1.17.

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

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be paid a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.42%. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Evercore ISI raised their price objective on shares of Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. Wells Fargo & Company lowered their price objective on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. JPMorgan Chase & Co. dropped their target price on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. TD Cowen cut their price target on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Finally, Roth Mkm restated a “neutral” rating and issued a $40.00 target price on shares of Advance Auto Parts in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and a consensus price target 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.