Public Sector Pension Investment Board Has $4.93 Million Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Public Sector Pension Investment Board decreased its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,523 shares of the company’s stock after selling 4,600 shares during the quarter. Public Sector Pension Investment Board’s holdings in Advance Auto Parts were worth $4,933,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Pzena Investment Management LLC raised its position in shares of Advance Auto Parts by 140.3% in the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after buying an additional 1,698,155 shares in the last quarter. Dorsal Capital Management LP raised its holdings in Advance Auto Parts by 159.7% in the 2nd quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock valued at $79,162,000 after acquiring an additional 768,664 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Advance Auto Parts by 76.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after acquiring an additional 547,696 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Advance Auto Parts during the 3rd quarter worth $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Advance Auto Parts in the third quarter worth $14,684,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

AAP stock opened at $41.35 on Monday. The company has a market capitalization of $2.47 billion, a P/E ratio of 56.64 and a beta of 1.17. The company has a fifty day moving average price of $39.21 and a 200-day moving average price of $51.73. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts, Inc. has a 52-week low of $35.59 and a 52-week high of $88.56.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.82) earnings per share. As a group, equities analysts expect that Advance Auto Parts, Inc. will post -0.51 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.42%. Advance Auto Parts’s payout ratio is 136.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AAP. Mizuho reiterated a “neutral” rating and set a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Truist Financial decreased their price objective on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. DA Davidson reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. TD Cowen decreased their price target on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. Finally, Wells Fargo & Company dropped their price objective on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.64.

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.