Public Employees Retirement System of Ohio Reduces Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Public Employees Retirement System of Ohio lowered its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 4.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,617 shares of the company’s stock after selling 1,077 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Advance Auto Parts were worth $843,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Advance Auto Parts in the second quarter valued at $41,000. Blue Trust Inc. lifted its holdings in Advance Auto Parts by 98.7% in the 2nd quarter. Blue Trust Inc. now owns 769 shares of the company’s stock valued at $49,000 after purchasing an additional 382 shares in the last quarter. AM Squared Ltd acquired a new stake in shares of Advance Auto Parts during the 2nd quarter worth about $63,000. KBC Group NV grew its holdings in shares of Advance Auto Parts by 29.1% during 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 in the last quarter. Finally, City State Bank acquired a new position in shares of Advance Auto Parts in the third quarter valued at approximately $78,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Insider Buying and Selling at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by insiders.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $41.96 on Friday. The firm has a fifty day moving average of $40.63 and a 200-day moving average of $49.47. Advance Auto Parts, Inc. has a 52-week low of $35.59 and a 52-week high of $88.56. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $2.51 billion, a P/E ratio of 57.48 and a beta of 1.21.

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). The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.82) earnings per share. As a group, analysts predict that Advance Auto Parts, Inc. will post -0.54 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AAP. Truist Financial decreased their target price on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. DA Davidson reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. BMO Capital Markets assumed coverage on Advance Auto Parts in a research report on Friday, December 13th. They set a “market perform” rating and a $45.00 target price on the stock. Evercore ISI raised their price target on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada dropped their price objective on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. One equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.40.

Advance Auto Parts Company 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.