Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,188 shares of the company’s stock after selling 2,309 shares during the period. Illinois Municipal Retirement Fund’s holdings in Advance Auto Parts were worth $2,636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP raised its holdings in Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after acquiring an additional 266 shares during the last quarter. UMB Bank n.a. grew its holdings in Advance Auto Parts by 508.3% in the 3rd quarter. UMB Bank n.a. now owns 511 shares of the company’s stock valued at $29,000 after buying an additional 427 shares during the period. Larson Financial Group LLC increased its stake in shares of Advance Auto Parts by 264.6% during the 3rd quarter. Larson Financial Group LLC now owns 689 shares of the company’s stock valued at $39,000 after acquiring an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Advance Auto Parts by 594.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 840 shares of the company’s stock worth $47,000 after acquiring an additional 719 shares during the period. Finally, CWM LLC boosted its position in shares of Advance Auto Parts by 24.2% in the third quarter. CWM LLC now owns 1,620 shares of the company’s stock worth $91,000 after acquiring an additional 316 shares during the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, Director Brent Windom purchased 4,700 shares of Advance Auto Parts stock in a transaction on Wednesday, March 27th. The stock was bought at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $853,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Brent Windom acquired 4,700 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was acquired at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $853,400. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carla Jean Bailo bought 310 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average cost of $81.19 per share, for a total transaction of $25,168.90. Following the acquisition, the director now owns 5,789 shares of the company’s stock, valued at $470,008.91. The disclosure for this purchase can be found here. 0.35% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on AAP shares. Royal Bank of Canada lifted their price target on shares of Advance Auto Parts from $47.00 to $68.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Mizuho assumed coverage on Advance Auto Parts in a report on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 price objective on the stock. Barclays boosted their target price on Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their price target on shares of Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Finally, Truist Financial increased their price objective on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.56.

Advance Auto Parts Trading Down 1.9 %

NYSE AAP opened at $76.53 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20. The company has a 50-day simple moving average of $75.06 and a 200-day simple moving average of $64.07. The firm has a market capitalization of $4.56 billion, a PE ratio of 103.42, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17. Advance Auto Parts, Inc. has a one year low of $47.73 and a one year high of $127.31.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.88 earnings per share. On average, equities analysts forecast that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. Advance Auto Parts’s dividend payout ratio is presently 135.14%.

Advance Auto Parts Profile

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.