Advance Auto Parts, Inc. (NYSE:AAP) Holdings Trimmed by River Road Asset Management LLC

River Road Asset Management LLC trimmed its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 14.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 633,861 shares of the company’s stock after selling 110,219 shares during the period. River Road Asset Management LLC’s holdings in Advance Auto Parts were worth $38,685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Caxton Associates LP purchased a new stake in shares of Advance Auto Parts in the third quarter worth approximately $1,223,000. Kepos Capital LP acquired a new position in Advance Auto Parts during the third quarter worth $3,356,000. Public Sector Pension Investment Board increased its position in Advance Auto Parts by 1,173.5% during the third quarter. Public Sector Pension Investment Board now owns 73,471 shares of the company’s stock worth $4,109,000 after buying an additional 67,702 shares during the last quarter. Rhumbline Advisers increased its position in Advance Auto Parts by 28.9% during the third quarter. Rhumbline Advisers now owns 164,334 shares of the company’s stock worth $9,191,000 after buying an additional 36,872 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Advance Auto Parts by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,531,146 shares of the company’s stock worth $85,637,000 after buying an additional 107,540 shares during the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Price Performance

Shares of NYSE AAP traded up $2.44 during mid-day trading on Wednesday, hitting $74.05. 1,770,578 shares of the stock were exchanged, compared to its average volume of 1,841,740. The company has a market cap of $4.41 billion, a P/E ratio of 96.77, a PEG ratio of 1.27 and a beta of 1.17. The stock’s fifty day simple moving average is $73.84 and its two-hundred day simple moving average is $63.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20. Advance Auto Parts, Inc. has a twelve month low of $47.73 and a twelve month high of $129.90.

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

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, April 11th. Advance Auto Parts’s dividend payout ratio is currently 135.14%.

Insider Activity at Advance Auto Parts

In related news, Director Brent Windom purchased 4,700 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was acquired at an average price of $85.34 per share, with a total value of $401,098.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $853,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Brent Windom purchased 4,700 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was acquired at an average price of $85.34 per share, with a total value of $401,098.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $853,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the sale, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AAP shares. JPMorgan Chase & Co. upped their price target on shares of Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Barclays upped their price target on shares of Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. TheStreet upgraded shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Truist Financial increased their target price on shares of Advance Auto Parts from $60.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Finally, Mizuho began coverage on shares of Advance Auto Parts in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 target price for the company. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Advance Auto Parts presently has a consensus rating of “Hold” and an average price target of $70.18.

Advance Auto Parts Company 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.