Axa S.A. Cuts Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Posted by on Mar 2nd, 2023

Axa S.A. reduced its position in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 4.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,157 shares of the company’s stock after selling 102 shares during the period. Axa S.A.’s holdings in Advance Auto Parts were worth $337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Private Advisor Group LLC bought a new position in shares of Advance Auto Parts during the first quarter valued at $232,000. MetLife Investment Management LLC boosted its holdings in shares of Advance Auto Parts by 21.9% during the 1st quarter. MetLife Investment Management LLC now owns 16,965 shares of the company’s stock valued at $3,511,000 after acquiring an additional 3,046 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Advance Auto Parts by 5.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,343 shares of the company’s stock worth $1,727,000 after acquiring an additional 435 shares during the period. Cibc World Market Inc. grew its stake in shares of Advance Auto Parts by 120.6% in the first quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock worth $2,399,000 after acquiring an additional 6,338 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of Advance Auto Parts by 14.4% during the first quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock valued at $956,000 after purchasing an additional 582 shares during the last quarter. 96.04% of the stock is owned by institutional investors.

Advance Auto Parts Trading Down 4.2 %

AAP stock opened at $138.82 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.23. Advance Auto Parts, Inc. has a 1-year low of $137.00 and a 1-year high of $231.43. The business has a 50 day simple moving average of $148.57 and a two-hundred day simple moving average of $161.55. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 0.96 and a beta of 1.11.

Advance Auto Parts (NYSE:AAP – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.47. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.42 billion. Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. Advance Auto Parts’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.07 earnings per share. Research analysts anticipate that Advance Auto Parts, Inc. will post 12.57 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $6.00 annualized dividend and a dividend yield of 4.32%. Advance Auto Parts’s dividend payout ratio (DPR) is 72.55%.

Analyst Upgrades and Downgrades

AAP has been the subject of a number of research analyst reports. Argus cut their target price on shares of Advance Auto Parts from $220.00 to $185.00 in a research report on Monday, December 5th. Royal Bank of Canada lowered their target price on Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating on the stock in a report on Thursday, November 17th. Raymond James cut their price target on Advance Auto Parts from $200.00 to $180.00 and set a “strong-buy” rating for the company in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of Advance Auto Parts from $165.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Roth Mkm downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $180.00 to $140.00 in a report on Monday, February 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Advance Auto Parts currently has a consensus rating of “Hold” and an average price target of $166.89.

Advance Auto Parts Company 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.

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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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