Advance Auto Parts, Inc. (NYSE:AAP) Stake Lifted by Everence Capital Management Inc.

Everence Capital Management Inc. raised its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 29.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,030 shares of the company’s stock after buying an additional 1,830 shares during the period. Everence Capital Management Inc.’s holdings in Advance Auto Parts were worth $490,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Advance Auto Parts by 190.0% during the fourth quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after buying an additional 266 shares in the last quarter. Clear Street Markets LLC boosted its stake in Advance Auto Parts by 245.9% in the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the period. UniSuper Management Pty Ltd acquired a new position in Advance Auto Parts in the 2nd quarter worth approximately $28,000. UMB Bank n.a. boosted its stake in Advance Auto Parts by 508.3% in the 3rd quarter. UMB Bank n.a. now owns 511 shares of the company’s stock worth $29,000 after purchasing an additional 427 shares during the period. Finally, Covestor Ltd boosted its stake in Advance Auto Parts by 113.7% in the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after purchasing an additional 83 shares during the period. 88.75% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Carla Jean Bailo purchased 310 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average cost of $81.19 per share, with a total value of $25,168.90. Following the acquisition, the director now directly owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Herman L. Word, Jr. sold 1,858 shares of Advance Auto Parts stock in a transaction dated 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 transaction, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carla Jean Bailo bought 310 shares of the company’s stock in a transaction on Monday, March 18th. The stock was bought at an average cost of $81.19 per share, with a total value of $25,168.90. Following the completion of the purchase, the director now owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The disclosure for this purchase can be found here. 0.63% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AAP shares. Barclays raised their price objective on shares of Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. TheStreet upgraded shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a research report on Monday, January 22nd. Mizuho began coverage on shares of Advance Auto Parts in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 target price for the company. Royal Bank of Canada increased their target price on shares of Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. Finally, Truist Financial increased their target price 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 investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $70.18.

Advance Auto Parts Stock Performance

NYSE AAP opened at $74.05 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.29. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 100.07, a P/E/G ratio of 1.27 and a beta of 1.17. The company’s fifty day moving average is $74.00 and its two-hundred day moving average is $63.30. Advance Auto Parts, Inc. has a 52-week low of $47.73 and a 52-week high of $129.90.

Advance Auto Parts (NYSE:AAP) last issued its earnings results 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). Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the firm posted $2.88 earnings per share. Advance Auto Parts’s revenue was down .4% on a year-over-year basis. Equities research analysts forecast that Advance Auto Parts, Inc. will post 3.94 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently announced 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 1.35%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 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.