Chevy Chase Trust Holdings LLC lifted its holdings in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,027 shares of the company's stock after purchasing an additional 134 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of Advance Auto Parts worth $5,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Covestor Ltd raised its stake in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company's stock worth $32,000 after purchasing an additional 83 shares during the last quarter. Ellevest Inc. increased its position in Advance Auto Parts by 161.0% during the second quarter. Ellevest Inc. now owns 201 shares of the company's stock valued at $35,000 after acquiring an additional 124 shares during the last quarter. First Personal Financial Services increased its position in Advance Auto Parts by 113.3% during the third quarter. First Personal Financial Services now owns 224 shares of the company's stock valued at $35,000 after acquiring an additional 119 shares during the last quarter. Private Trust Co. NA purchased a new stake in Advance Auto Parts during the second quarter valued at $36,000. Finally, Central Bank & Trust Co. increased its position in Advance Auto Parts by 61.6% during the second quarter. Central Bank & Trust Co. now owns 223 shares of the company's stock valued at $39,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 96.04% of the company's stock.
Get Advance Auto Parts alerts:Advance Auto Parts Trading Down 0.1 %
Shares of AAP stock opened at $147.44 on Monday. Advance Auto Parts, Inc. has a 1 year low of $138.52 and a 1 year high of $237.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.23. The stock's 50 day simple moving average is $147.71 and its two-hundred day simple moving average is $168.32. The company has a market cap of $8.86 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.15.
Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings data on Tuesday, November 15th. The company reported $2.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.32 by ($0.48). Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.66 billion. Research analysts predict that Advance Auto Parts, Inc. will post 12.59 earnings per share for the current year.Advance Auto Parts Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were given a $1.50 dividend. The ex-dividend date was Thursday, December 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.07%. Advance Auto Parts's payout ratio is 77.12%.
Analysts Set New Price Targets
A number of analysts have commented on AAP shares. The Goldman Sachs Group reduced their price target on Advance Auto Parts from $230.00 to $197.00 and set a "buy" rating for the company in a research report on Thursday, November 17th. StockNews.com cut Advance Auto Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, December 21st. Truist Financial lowered Advance Auto Parts from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $228.00 to $147.00 in a research note on Wednesday, November 16th. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $199.00 to $165.00 and set a "sector perform" rating for the company in a research note on Thursday, November 17th. Finally, Wells Fargo & Company dropped their price target on Advance Auto Parts from $180.00 to $150.00 and set an "equal weight" rating for the company in a research note on Thursday, January 5th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $189.88.
Advance Auto Parts Profile
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Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.
Further Reading
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