Leeward Investments LLC MA Lowers Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Leeward Investments LLC MA trimmed its position in Advance Auto Parts, Inc. (NYSE:AAP) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,867 shares of the company’s stock after selling 1,394 shares during the quarter. Leeward Investments LLC MA’s holdings in Advance Auto Parts were worth $3,165,000 at the end of the most recent reporting period.

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

Advance Auto Parts Price Performance

AAP stock traded up $0.43 during trading on Friday, reaching $75.14. 720,731 shares of the company were exchanged, compared to its average volume of 1,813,770. 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 market cap of $4.48 billion, a P/E ratio of 101.54, a PEG ratio of 1.39 and a beta of 1.17. The stock’s 50 day moving average price is $75.51 and its 200 day moving average price is $64.23. Advance Auto Parts, Inc. has a 52-week low of $47.73 and a 52-week high of $127.31.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the company earned $2.88 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts predict that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 135.14%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AAP. TheStreet raised shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a research report on Monday, January 22nd. Royal Bank of Canada raised their price objective 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. Truist Financial raised 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. Evercore ISI lowered their price objective on shares of Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Finally, Barclays lifted their target price 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. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $64.56.

Insider Buying and Selling at Advance Auto Parts

In other news, Director Brent Windom acquired 4,700 shares of Advance Auto Parts stock in a transaction that occurred on Wednesday, March 27th. The shares were acquired at an average price of $85.34 per share, with a total value of $401,098.00. Following the completion of the purchase, 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 SEC, which can be accessed through this link. In other news, Director Carla Jean Bailo acquired 310 shares of Advance Auto Parts stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average price 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brent Windom acquired 4,700 shares of Advance Auto Parts stock in a transaction that occurred on Wednesday, March 27th. The shares were purchased at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $853,400. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

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.