Price T Rowe Associates Inc. MD Acquires 40,669 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Price T Rowe Associates Inc. MD boosted its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,998,910 shares of the company’s stock after acquiring an additional 40,669 shares during the quarter. Price T Rowe Associates Inc. MD owned 6.71% of Advance Auto Parts worth $340,268,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AAP. Keeley Teton Advisors LLC purchased a new position in Advance Auto Parts in the first quarter worth $394,000. Gamco Investors INC. ET AL raised its stake in shares of Advance Auto Parts by 1.1% in the first quarter. Gamco Investors INC. ET AL now owns 104,100 shares of the company’s stock valued at $8,858,000 after buying an additional 1,100 shares during the period. Senator Investment Group LP bought a new stake in shares of Advance Auto Parts during the 1st quarter valued at $8,509,000. Capital World Investors raised its stake in shares of Advance Auto Parts by 67.0% during the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock valued at $130,522,000 after purchasing an additional 615,674 shares during the period. Finally, Shell Asset Management Co. bought a new stake in shares of Advance Auto Parts during the 1st quarter valued at $310,000. Institutional investors own 88.75% of the company’s stock.

Analyst Ratings Changes

AAP has been the topic of a number of analyst reports. Mizuho decreased their price objective on Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating on the stock in a research note on Monday, June 10th. Truist Financial decreased their price objective on Advance Auto Parts from $70.00 to $63.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Royal Bank of Canada reduced their target price on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating for the company in a research report on Thursday, May 30th. UBS Group boosted their target price on Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Finally, Evercore ISI reduced their target price on Advance Auto Parts from $70.00 to $68.00 and set an “in-line” rating for the company in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating and fifteen have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $64.64.

Advance Auto Parts Trading Up 1.0 %

AAP stock traded up $0.59 during trading on Friday, hitting $60.76. 1,412,452 shares of the company traded hands, compared to its average volume of 1,271,729. The firm has a market capitalization of $3.62 billion, a PE ratio of 88.06, a P/E/G ratio of 1.17 and a beta of 1.20. Advance Auto Parts, Inc. has a 1 year low of $47.73 and a 1 year high of $88.56. The company has a 50-day moving average of $63.80 and a 200-day moving average of $69.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.29 and a current ratio of 1.22.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Wednesday, May 29th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.43 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. Analysts predict that Advance Auto Parts, Inc. will post 3.7 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Friday, July 12th. Advance Auto Parts’s payout ratio is 144.93%.

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.