Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by DekaBank Deutsche Girozentrale

Posted by on Apr 21st, 2023

DekaBank Deutsche Girozentrale lessened its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,263 shares of the company’s stock after selling 388 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Advance Auto Parts were worth $1,793,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Covestor Ltd lifted its holdings in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares in the last quarter. Private Trust Co. NA purchased a new stake in shares of Advance Auto Parts in the second quarter valued at $36,000. First Personal Financial Services lifted its holdings in shares of Advance Auto Parts by 113.3% in the third quarter. First Personal Financial Services now owns 224 shares of the company’s stock valued at $35,000 after purchasing an additional 119 shares in the last quarter. General Partner Inc. purchased a new stake in shares of Advance Auto Parts in the fourth quarter valued at $44,000. Finally, Central Bank & Trust Co. lifted its holdings in shares of Advance Auto Parts by 43.0% in the third quarter. Central Bank & Trust Co. now owns 319 shares of the company’s stock valued at $50,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 96.04% of the company’s stock.

Advance Auto Parts Trading Up 0.2 %

Advance Auto Parts stock opened at $128.37 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.21. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.05 and a beta of 1.10. Advance Auto Parts, Inc. has a one year low of $109.05 and a one year high of $231.43. The company’s fifty day moving average price is $129.68 and its two-hundred day moving average price is $148.25.

Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.47. Advance Auto Parts had a net margin of 4.50% and a return on equity of 28.53%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the company earned $2.07 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that Advance Auto Parts, Inc. will post 10.63 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Thursday, April 13th. Advance Auto Parts’s dividend payout ratio (DPR) is 72.55%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AAP. Roth Mkm lowered Advance Auto Parts from a “buy” rating to a “neutral” rating and reduced their target price for the company from $180.00 to $140.00 in a report on Monday, February 13th. StockNews.com started coverage on Advance Auto Parts in a report on Thursday, March 16th. They issued a “buy” rating for the company. Barclays raised shares of Advance Auto Parts from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $140.00 to $129.00 in a research note on Friday, March 31st. Argus downgraded shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Monday, March 13th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $140.00 price target (down from $180.00) on shares of Advance Auto Parts in a research note on Monday, February 13th. Thirteen research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $164.06.

About Advance Auto Parts

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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: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.

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

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