Credit Suisse AG Sells 10,166 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Posted by Defense World Staff on Aug 27th, 2023

Credit Suisse AG lowered its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP – Free Report) by 9.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 95,843 shares of the company’s stock after selling 10,166 shares during the period. Credit Suisse AG owned about 0.16% of Advance Auto Parts worth $11,655,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd grew its holdings in shares of Advance Auto Parts by 113.7% during the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Advance Auto Parts during the 1st quarter valued at $29,000. Machina Capital S.A.S. bought a new position in shares of Advance Auto Parts during the 1st quarter valued at $32,000. Scissortail Wealth Management LLC bought a new position in shares of Advance Auto Parts during the 1st quarter valued at $5,410,371,000. Finally, Hexagon Capital Partners LLC boosted its position in Advance Auto Parts by 9,933.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 301 shares of the company’s stock valued at $37,000 after buying an additional 298 shares during the period. Institutional investors own 91.32% of the company’s stock.

Advance Auto Parts Stock Down 5.6 %

NYSE:AAP opened at $64.08 on Friday. The firm has a market cap of $3.81 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.29 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.24 and a current ratio of 1.26. Advance Auto Parts, Inc. has a fifty-two week low of $63.09 and a fifty-two week high of $194.35. The firm has a 50-day simple moving average of $70.10 and a two-hundred day simple moving average of $101.83.

Advance Auto Parts (NYSE:AAP – Get Free Report) last released its quarterly earnings data on Wednesday, August 23rd. The company reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.23). The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.66 billion. Advance Auto Parts had a net margin of 3.08% and a return on equity of 17.53%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.74 earnings per share. Analysts predict that Advance Auto Parts, Inc. will post 4.6 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. Advance Auto Parts’s dividend payout ratio is presently 17.30%.

Analyst Ratings Changes

Several equities research analysts have weighed in on AAP shares. Barclays dropped their price target on shares of Advance Auto Parts from $129.00 to $69.00 in a research report on Thursday, June 1st. StockNews.com initiated coverage on shares of Advance Auto Parts in a research report on Thursday, August 17th. They set a “hold” rating for the company. The Goldman Sachs Group dropped their target price on shares of Advance Auto Parts from $90.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday. TheStreet cut shares of Advance Auto Parts from a “b-” rating to a “c+” rating in a research report on Friday, May 26th. Finally, Wells Fargo & Company dropped their target price on shares of Advance Auto Parts from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and an average price target of $94.74.

Read Our Latest Report on Advance Auto Parts

Insider Transactions at Advance Auto Parts

In related news, Director Carla Jean Bailo purchased 500 shares of Advance Auto Parts stock in a transaction dated Wednesday, June 7th. The stock was purchased at an average cost of $65.90 per share, for a total transaction of $32,950.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $32,950. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Carla Jean Bailo purchased 500 shares of Advance Auto Parts stock in a transaction dated Wednesday, June 7th. The stock was purchased at an average cost of $65.90 per share, for a total transaction of $32,950.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $32,950. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Douglas A. Pertz purchased 4,575 shares of Advance Auto Parts stock in a transaction dated Monday, June 12th. The stock was bought at an average price of $66.02 per share, with a total value of $302,041.50. Following the completion of the purchase, the director now directly owns 12,831 shares of the company’s stock, valued at $847,102.62. The disclosure for this purchase can be found here. Insiders purchased 5,463 shares of company stock worth $359,924 over the last three months. 0.63% of the stock is currently owned by company insiders.

Advance Auto Parts Company Profile

(Free Report)

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.