New York State Common Retirement Fund Sells 5,815 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

New York State Common Retirement Fund cut its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 11.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,875 shares of the company’s stock after selling 5,815 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of Advance Auto Parts worth $2,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Caxton Associates LP acquired a new stake in Advance Auto Parts in the third quarter worth $1,223,000. Kepos Capital LP bought a new stake in Advance Auto Parts in the 3rd quarter valued at about $3,356,000. Public Sector Pension Investment Board boosted its holdings in 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 in the last quarter. Rhumbline Advisers grew its stake in Advance Auto Parts by 28.9% in the third 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 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 valued at $85,637,000 after acquiring an additional 107,540 shares during the period. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Trading Up 0.9 %

NYSE:AAP opened at $74.53 on Wednesday. Advance Auto Parts, Inc. has a 12 month low of $47.73 and a 12 month high of $127.31. 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 firm’s 50 day moving average is $77.45 and its 200 day moving average is $65.68. The stock has a market capitalization of $4.44 billion, a PE ratio of 100.72, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the company earned $2.88 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. Sell-side analysts expect that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Thursday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 135.14%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Truist Financial increased their target price on Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. TheStreet raised shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a research report on Monday, January 22nd. Royal Bank of Canada raised their price target on shares of Advance Auto Parts from $47.00 to $68.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price objective on Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Finally, Mizuho started coverage on Advance Auto Parts in a report on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 target price on the stock. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.56.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, Director Brent Windom acquired 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was bought 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 in the company, valued at $853,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Brent Windom acquired 4,700 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $853,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total value of $159,936.64. Following the completion of the transaction, the executive vice president now owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

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.