Dimensional Fund Advisors LP Acquires 17,440 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Posted by Defense World Staff on Sep 8th, 2023

Dimensional Fund Advisors LP lifted its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP – Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 874,766 shares of the company’s stock after acquiring an additional 17,440 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Advance Auto Parts were worth $106,374,000 as of its most recent SEC filing.

A number of other large 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 in the first quarter valued at about $232,000. MetLife Investment Management LLC boosted its holdings in shares of Advance Auto Parts by 21.9% during the first quarter. MetLife Investment Management LLC now owns 16,965 shares of the company’s stock worth $3,511,000 after acquiring an additional 3,046 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position 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 valued at $1,727,000 after purchasing an additional 435 shares during the last quarter. Cibc World Market Inc. increased its stake in shares of Advance Auto Parts by 120.6% during the first quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock worth $2,399,000 after purchasing an additional 6,338 shares during the period. Finally, Blair William & Co. IL lifted its holdings in Advance Auto Parts by 14.4% during the 1st quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock worth $956,000 after purchasing an additional 582 shares during the last quarter. Institutional investors own 88.75% of the company’s stock.

Insider Activity

In other Advance Auto Parts news, Director Douglas A. Pertz acquired 4,575 shares of Advance Auto Parts stock in a transaction that occurred on Monday, June 12th. The shares were 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 in the company, valued at approximately $847,102.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AAP shares. UBS Group lowered their price target on shares of Advance Auto Parts from $132.00 to $75.00 in a research report on Thursday, June 1st. JPMorgan Chase & Co. cut Advance Auto Parts from an “overweight” rating to a “neutral” rating and cut their price target for the company from $165.00 to $84.00 in a research note on Thursday, June 1st. Royal Bank of Canada lowered their price objective on Advance Auto Parts from $84.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 24th. Citigroup cut their target price on Advance Auto Parts from $126.00 to $76.00 in a research report on Thursday, June 1st. Finally, StockNews.com began coverage on Advance Auto Parts in a research note on Thursday, August 17th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $94.74.

View Our Latest Stock Analysis on AAP

Advance Auto Parts Trading Down 5.4 %

NYSE AAP opened at $63.39 on Friday. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. Advance Auto Parts, Inc. has a twelve month low of $63.09 and a twelve month high of $194.35. The company has a quick ratio of 0.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average is $69.92 and its 200 day moving average is $96.92.

Advance Auto Parts (NYSE:AAP – Get Free Report) last announced its quarterly earnings results on Wednesday, August 23rd. The company reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.23). Advance Auto Parts had a net margin of 3.08% and a return on equity of 17.53%. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the business posted $3.74 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, sell-side analysts expect that Advance Auto Parts, Inc. will post 4.72 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.58%. The ex-dividend date is Thursday, October 12th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 17.30%.

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.