Public Sector Pension Investment Board Sells 4,600 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Public Sector Pension Investment Board lessened its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 3.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 126,523 shares of the company’s stock after selling 4,600 shares during the period. Public Sector Pension Investment Board owned 0.21% of Advance Auto Parts worth $4,933,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversified Trust Co raised its stake in shares of Advance Auto Parts by 3.5% in the second quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock worth $430,000 after acquiring an additional 232 shares during the last quarter. OLD National Bancorp IN raised its position in Advance Auto Parts by 6.8% in the 2nd quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock worth $234,000 after purchasing an additional 237 shares during the last quarter. Sei Investments Co. lifted its holdings in Advance Auto Parts by 0.5% during the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company’s stock worth $3,779,000 after buying an additional 277 shares in the last quarter. Qsemble Capital Management LP boosted its position in Advance Auto Parts by 7.6% in the 2nd quarter. Qsemble Capital Management LP now owns 4,036 shares of the company’s stock valued at $256,000 after buying an additional 285 shares during the last quarter. Finally, Everence Capital Management Inc. increased its stake in shares of Advance Auto Parts by 3.7% in the 3rd quarter. Everence Capital Management Inc. now owns 8,330 shares of the company’s stock valued at $325,000 after buying an additional 300 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $41.35 on Monday. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56. The business’s 50 day moving average price is $39.21 and its two-hundred day moving average price is $51.73. The company has a market cap of $2.47 billion, a PE ratio of 56.64 and a beta of 1.17.

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

Advance Auto Parts Dividend Announcement

The business 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 $0.25 dividend. 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 dividend payout ratio is currently 136.99%.

Analyst Ratings Changes

AAP has been the topic of several recent research reports. Roth Mkm reiterated a “neutral” rating and issued a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. Evercore ISI increased their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. Royal Bank of Canada cut their target price on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Monday, November 11th. Finally, Wells Fargo & Company decreased their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and an average target price of $48.64.

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.