Amalgamated Bank Reduces Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Amalgamated Bank decreased its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 29.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,672 shares of the company’s stock after selling 7,954 shares during the quarter. Amalgamated Bank’s holdings in Advance Auto Parts were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Advance Auto Parts in the first quarter worth $34,000. Mather Group LLC. lifted its stake in Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after acquiring an additional 596 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Advance Auto Parts in the second quarter worth $41,000. Blue Trust Inc. raised its holdings in Advance Auto Parts by 56.7% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after purchasing an additional 436 shares in the last quarter. Finally, AM Squared Ltd bought a new position in Advance Auto Parts in the second quarter worth $63,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Trading Down 8.5 %

Advance Auto Parts stock opened at $37.68 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. Advance Auto Parts, Inc. has a one year low of $35.59 and a one year high of $88.56. The stock has a market capitalization of $2.25 billion, a PE ratio of 3,768.00, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. The business’s fifty day moving average is $39.02 and its 200 day moving average is $54.37.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the business earned $1.43 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts predict that Advance Auto Parts, Inc. will post 2.19 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 10,000.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AAP shares. Roth Mkm reiterated a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a report on Wednesday, October 16th. The Goldman Sachs Group decreased their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a report on Friday. TD Cowen decreased their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 23rd. UBS Group increased their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Truist Financial decreased their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $49.14.

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.