Advance Auto Parts, Inc. (NYSE:AAP) Shares Acquired by Kestra Advisory Services LLC

Posted by Defense World Staff on Apr 21st, 2023

Kestra Advisory Services LLC grew its position in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 195.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,520 shares of the company’s stock after buying an additional 9,598 shares during the quarter. Kestra Advisory Services LLC’s holdings in Advance Auto Parts were worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Advance Auto Parts by 4.0% in the third quarter. Vanguard Group Inc. now owns 7,291,395 shares of the company’s stock valued at $1,139,936,000 after purchasing an additional 277,906 shares during the period. Clearbridge Investments LLC boosted its holdings in Advance Auto Parts by 3.6% in the first quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock valued at $685,801,000 after purchasing an additional 114,789 shares during the period. Invesco Ltd. boosted its holdings in Advance Auto Parts by 10.8% in the first quarter. Invesco Ltd. now owns 1,018,797 shares of the company’s stock valued at $210,850,000 after purchasing an additional 99,400 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Advance Auto Parts by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 858,038 shares of the company’s stock valued at $134,168,000 after purchasing an additional 20,904 shares during the period. Finally, Raymond James & Associates boosted its holdings in Advance Auto Parts by 3.9% in the third quarter. Raymond James & Associates now owns 557,983 shares of the company’s stock valued at $87,236,000 after purchasing an additional 20,907 shares during the period. 96.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AAP. Citigroup decreased their target price on Advance Auto Parts from $159.00 to $153.00 and set a “neutral” rating for the company in a report on Wednesday, March 1st. StockNews.com began coverage on Advance Auto Parts in a report on Thursday, March 16th. They issued a “buy” rating for the company. DA Davidson decreased their price target on Advance Auto Parts from $170.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, March 1st. Wedbush raised Advance Auto Parts from a “neutral” rating to an “outperform” rating in a report on Friday, January 13th. Finally, Barclays raised Advance Auto Parts from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $140.00 to $129.00 in a report on Friday, March 31st. Thirteen research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and a consensus price target of $164.06.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $128.37 on Friday. The stock has a market capitalization of $7.61 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.05 and a beta of 1.10. Advance Auto Parts, Inc. has a 52-week low of $109.05 and a 52-week high of $231.43. The stock’s 50-day moving average price is $129.68 and its 200 day moving average price is $148.25. The company has a quick ratio of 0.21, a current ratio of 1.13 and a debt-to-equity ratio of 0.44.

Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.47. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Advance Auto Parts had a return on equity of 28.53% and a net margin of 4.50%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 EPS. As a group, equities research analysts forecast that Advance Auto Parts, Inc. will post 10.63 EPS for the current year.

Advance Auto Parts Dividend Announcement

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

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.