Wealth Enhancement Advisory Services LLC Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Wealth Enhancement Advisory Services LLC purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,155 shares of the company's stock, valued at approximately $811,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Advance Auto Parts by 34.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock valued at $316,160,000 after purchasing an additional 1,706,328 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Advance Auto Parts by 11.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,449,554 shares of the company's stock valued at $163,129,000 after purchasing an additional 347,587 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Advance Auto Parts by 12.5% during the 4th quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock valued at $154,681,000 after purchasing an additional 362,239 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Advance Auto Parts by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company's stock valued at $129,016,000 after purchasing an additional 297,741 shares during the last quarter. Finally, Eminence Capital LP bought a new position in shares of Advance Auto Parts during the 4th quarter valued at about $87,214,000. Hedge funds and other institutional investors own 88.75% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on AAP shares. Truist Financial reduced their price objective on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and raised their price target for the stock from $28.00 to $45.00 in a research report on Tuesday, June 3rd. The Goldman Sachs Group restated a "neutral" rating and set a $48.00 price target (up from $43.00) on shares of Advance Auto Parts in a research report on Thursday, May 22nd. Raymond James raised their price target on Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research report on Monday, May 26th. Finally, Citigroup reduced their price target on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $46.01.

Advance Auto Parts Stock Down 4.7%

Shares of AAP traded down $2.40 on Friday, reaching $48.41. The stock had a trading volume of 2,127,383 shares, compared to its average volume of 2,478,258. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 66.31, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The company has a 50-day simple moving average of $38.71 and a 200-day simple moving average of $41.49. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $67.03.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.81) by $0.59. The business had revenue of $2.58 billion during the quarter, compared to analysts' expectations of $2.51 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 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. Sell-side analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts's payout ratio is -17.04%.

About Advance Auto Parts

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.