State of New Jersey Common Pension Fund D Raises Stake in Advance Auto Parts, Inc. (NYSE:AAP)

State of New Jersey Common Pension Fund D lifted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 36.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,461 shares of the company's stock after acquiring an additional 13,074 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of Advance Auto Parts worth $2,958,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of Advance Auto Parts by 190.0% in the fourth quarter. Allworth Financial LP now owns 406 shares of the company's stock worth $25,000 after buying an additional 266 shares during the period. UMB Bank n.a. raised its position in shares of Advance Auto Parts by 508.3% in the third quarter. UMB Bank n.a. now owns 511 shares of the company's stock valued at $29,000 after purchasing an additional 427 shares during the period. Larson Financial Group LLC lifted its stake in shares of Advance Auto Parts by 264.6% in the third quarter. Larson Financial Group LLC now owns 689 shares of the company's stock worth $39,000 after buying an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Advance Auto Parts by 594.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 840 shares of the company's stock worth $47,000 after buying an additional 719 shares during the period. Finally, GAMMA Investing LLC bought a new position in Advance Auto Parts in the 4th quarter worth $63,000. 88.75% of the stock is currently owned by institutional investors.

Advance Auto Parts Price Performance

Shares of AAP traded up $0.29 during mid-day trading on Monday, hitting $75.43. 1,221,758 shares of the company traded hands, compared to its average volume of 1,806,552. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average of $75.72 and a 200 day moving average of $64.58. Advance Auto Parts, Inc. has a one year low of $47.73 and a one year high of $127.31. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 101.93, a PEG ratio of 1.36 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the business posted $2.88 earnings per share. The firm's quarterly revenue was down .4% on a year-over-year basis. As a group, equities analysts expect that Advance Auto Parts, Inc. will post 3.94 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, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, April 11th. Advance Auto Parts's dividend payout ratio is 135.14%.

Analyst Ratings Changes

AAP has been the topic of several research analyst reports. Mizuho started coverage on Advance Auto Parts in a research report on Tuesday, March 19th. They issued a "neutral" rating and a $78.00 price target on the stock. TheStreet upgraded shares of Advance Auto Parts from a "d+" rating to a "c-" rating in a research note on Monday, January 22nd. Barclays increased their price target on shares of Advance Auto Parts from $56.00 to $66.00 and gave the company an "equal weight" rating in a report on Thursday, February 29th. Royal Bank of Canada lifted their target price on Advance Auto Parts from $47.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 29th. Finally, Truist Financial raised their price objective on Advance Auto Parts from $60.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $64.56.

Insider Activity at Advance Auto Parts

In related news, Director Carla Jean Bailo acquired 310 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average cost of $81.19 per share, with a total value of $25,168.90. Following the completion of the purchase, the director now directly owns 5,789 shares in the company, valued at $470,008.91. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Carla Jean Bailo bought 310 shares of the business's stock in a transaction on Monday, March 18th. The shares were bought at an average cost of $81.19 per share, for a total transaction of $25,168.90. Following the completion of the acquisition, the director now owns 5,789 shares in the company, valued at approximately $470,008.91. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brent Windom acquired 4,700 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was purchased 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 in the company, valued at $853,400. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by company insiders.

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.