August 10, 2022

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1,644 Shares in Advance Auto Parts, Inc. (NYSE:AAP) Purchased by Kentucky Retirement Systems Insurance Trust Fund

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Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) during the 3rd quarter, Holdings Channel.com reports. The firm bought 1,644 shares of the company’s stock, valued at approximately $343,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAP. Arkadios Wealth Advisors lifted its position in Advance Auto Parts by 479.3% during the third quarter. Arkadios Wealth Advisors now owns 168 shares of the company’s stock worth $35,000 after buying an additional 139 shares during the period. First Horizon Advisors Inc. lifted its position in Advance Auto Parts by 423.5% during the third quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock worth $39,000 after buying an additional 216 shares during the period. Berman Capital Advisors LLC lifted its position in Advance Auto Parts by 42.4% during the third quarter. Berman Capital Advisors LLC now owns 198 shares of the company’s stock worth $41,000 after buying an additional 59 shares during the period. Tobam lifted its position in Advance Auto Parts by 466.7% during the third quarter. Tobam now owns 238 shares of the company’s stock worth $50,000 after buying an additional 196 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Advance Auto Parts by 23.9% during the third quarter. Geneos Wealth Management Inc. now owns 259 shares of the company’s stock worth $53,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Shares of NYSE AAP opened at $205.57 on Friday. Advance Auto Parts, Inc. has a fifty-two week low of $160.03 and a fifty-two week high of $244.55. The business has a 50 day moving average price of $229.30 and a two-hundred day moving average price of $222.63. The company has a quick ratio of 0.31, a current ratio of 1.21 and a debt-to-equity ratio of 0.33. The firm has a market cap of $12.56 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.15 and a beta of 1.25.

Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings data on Sunday, February 13th. The company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. Advance Auto Parts had a return on equity of 23.63% and a net margin of 5.60%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter last year, the firm earned $1.87 EPS. Advance Auto Parts’s quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts anticipate that Advance Auto Parts, Inc. will post 13.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 1st. Shareholders of record on Friday, March 18th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, March 17th. This is an increase from Advance Auto Parts’s previous quarterly dividend of $1.00. Advance Auto Parts’s dividend payout ratio (DPR) is currently 41.97%.

A number of research firms have recently commented on AAP. Truist Financial began coverage on Advance Auto Parts in a report on Thursday, January 13th. They issued a “buy” rating and a $273.00 price objective on the stock. DA Davidson raised their price objective on Advance Auto Parts from $250.00 to $260.00 in a report on Thursday, December 30th. Royal Bank of Canada began coverage on Advance Auto Parts in a report on Thursday, January 27th. They issued a “sector perform” rating and a $239.00 price objective on the stock. Morgan Stanley raised their price objective on Advance Auto Parts from $235.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 16th. Finally, Jefferies Financial Group increased their target price on Advance Auto Parts from $240.00 to $268.00 and gave the company a “buy” rating in a research note on Wednesday, November 17th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $246.40.

Advance Auto Parts Profile (Get Rating)

Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.

Further Reading

Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAP – Get Rating).

Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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