Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 42.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,591 shares of the company’s stock after selling 4,102 shares during the period. First Horizon Advisors Inc.’s holdings in Advance Auto Parts were worth $341,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Caxton Associates LP acquired a new stake in shares of Advance Auto Parts in the third quarter worth approximately $1,223,000. Kepos Capital LP acquired a new stake in shares of Advance Auto Parts in the third quarter worth approximately $3,356,000. Public Sector Pension Investment Board boosted its stake in shares of Advance Auto Parts by 1,173.5% in the third quarter. Public Sector Pension Investment Board now owns 73,471 shares of the company’s stock worth $4,109,000 after acquiring an additional 67,702 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Advance Auto Parts by 28.9% in the third quarter. Rhumbline Advisers now owns 164,334 shares of the company’s stock worth $9,191,000 after acquiring an additional 36,872 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Advance Auto Parts by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,531,146 shares of the company’s stock worth $85,637,000 after acquiring an additional 107,540 shares during the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Advance Auto Parts

In other news, EVP Herman L. Word, Jr. sold 1,858 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the transaction, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Brent Windom bought 4,700 shares of Advance Auto Parts stock in a transaction dated Wednesday, March 27th. The stock was acquired at an average cost of $85.34 per share, with a total value of $401,098.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $853,400. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $86.08, for a total value of $159,936.64. Following the completion of the sale, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at $899,363.84. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Advance Auto Parts Trading Up 1.9 %

AAP opened at $76.31 on Monday. Advance Auto Parts, Inc. has a 12 month low of $47.73 and a 12 month high of $127.31. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 103.12, a PEG ratio of 1.39 and a beta of 1.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.29. The business has a fifty day moving average price of $76.99 and a 200 day moving average price of $65.35.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the firm earned $2.88 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts expect that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Thursday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. Advance Auto Parts’s dividend payout ratio is currently 135.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Royal Bank of Canada lifted their price objective 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. TheStreet upgraded Advance Auto Parts from a “d+” rating to a “c-” rating in a research report on Monday, January 22nd. Truist Financial lifted 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. Finally, Barclays lifted their target price on Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $64.56.

Advance Auto Parts 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.