Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 95,311 shares of the company's stock after selling 31,847 shares during the quarter. Raymond James & Associates owned 0.16% of Advance Auto Parts worth $5,817,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Caxton Associates LP bought a new position in shares of Advance Auto Parts during the 3rd quarter valued at approximately $1,223,000. Kepos Capital LP bought a new position in shares of Advance Auto Parts during the 3rd quarter valued at approximately $3,356,000. Public Sector Pension Investment Board grew its stake in shares of 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 valued at $4,109,000 after acquiring an additional 67,702 shares during the period. Rhumbline Advisers grew its stake in shares of Advance Auto Parts by 28.9% during the 3rd quarter. Rhumbline Advisers now owns 164,334 shares of the company's stock valued at $9,191,000 after acquiring an additional 36,872 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 valued at $85,637,000 after acquiring an additional 107,540 shares during the period. 88.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, Director Carla Jean Bailo acquired 310 shares of the business's stock in a transaction on Monday, March 18th. The shares were bought at an average price of $81.19 per share, with a total value of $25,168.90. Following the transaction, the director now directly owns 5,789 shares of the company's stock, valued at approximately $470,008.91. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Brent Windom purchased 4,700 shares of the company's stock in a transaction dated 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 transaction, the director now owns 10,000 shares of the company's stock, valued at $853,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carla Jean Bailo purchased 310 shares of the company's stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $81.19 per share, for a total transaction of $25,168.90. Following the transaction, the director now directly owns 5,789 shares in the company, valued at approximately $470,008.91. The disclosure for this purchase can be found here. 0.63% of the stock is currently owned by corporate insiders.

Advance Auto Parts Trading Down 0.7 %

NYSE:AAP traded down $0.51 during midday trading on Wednesday, hitting $77.95. 1,202,087 shares of the company traded hands, compared to its average volume of 1,862,513. The firm's fifty day moving average is $73.48 and its 200-day moving average is $62.72. Advance Auto Parts, Inc. has a 12-month low of $47.73 and a 12-month high of $129.90. The firm has a market capitalization of $4.65 billion, a P/E ratio of 105.34, a P/E/G ratio of 1.41 and a beta of 1.17. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.83). The company had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.47 billion. Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The business's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.88 EPS. On average, sell-side analysts predict that Advance Auto Parts, Inc. will post 3.94 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, April 11th. Advance Auto Parts's dividend payout ratio (DPR) is presently 135.14%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AAP. Mizuho began coverage on Advance Auto Parts in a report on Tuesday, March 19th. They issued a "neutral" rating and a $78.00 price target on the stock. TheStreet raised Advance Auto Parts from a "d+" rating to a "c-" rating in a report on Monday, January 22nd. Royal Bank of Canada boosted their price target on Advance Auto Parts from $47.00 to $68.00 and gave the stock a "sector perform" rating in a report on Thursday, February 29th. Truist Financial boosted their price target on Advance Auto Parts from $60.00 to $70.00 and gave the stock a "hold" rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Advance Auto Parts from $55.00 to $68.00 and gave the stock a "neutral" rating in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $70.47.

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.