Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by M&G Investment Management Ltd.

M&G Investment Management Ltd. decreased its stake in Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 64.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,611 shares of the company’s stock after selling 2,904 shares during the period. M&G Investment Management Ltd.’s holdings in Advance Auto Parts were worth $251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AAP. Covestor Ltd lifted its stake in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares during the period. Ellevest Inc. lifted its stake in shares of Advance Auto Parts by 161.0% in the second quarter. Ellevest Inc. now owns 201 shares of the company’s stock valued at $35,000 after purchasing an additional 124 shares during the period. First Personal Financial Services lifted its stake in shares of Advance Auto Parts by 113.3% in the third quarter. First Personal Financial Services now owns 224 shares of the company’s stock valued at $35,000 after purchasing an additional 119 shares during the period. Private Trust Co. NA acquired a new stake in shares of Advance Auto Parts in the second quarter valued at about $36,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of Advance Auto Parts in the second quarter valued at about $38,000. Institutional investors and hedge funds own 96.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AAP. Truist Financial cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating and reduced their price objective for the company from $228.00 to $147.00 in a research note on Wednesday, November 16th. Stephens cut their target price on shares of Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating for the company in a research report on Monday, November 21st. StockNews.com cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st. Wells Fargo & Company cut their target price on shares of Advance Auto Parts from $180.00 to $150.00 and set an “equal weight” rating for the company in a research report on Thursday, January 5th. Finally, Wedbush cut shares of Advance Auto Parts from an “outperform” rating to a “neutral” rating and set a $145.00 target price for the company. in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $190.00.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $151.03 on Monday. Advance Auto Parts, Inc. has a 1 year low of $138.52 and a 1 year high of $242.96. The firm has a 50 day moving average price of $152.77 and a 200 day moving average price of $170.60. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 0.89 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.23 and a current ratio of 1.13.

Advance Auto Parts (NYSE:AAPGet Rating) last released its earnings results on Tuesday, November 15th. The company reported $2.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.48). Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Sell-side analysts predict that Advance Auto Parts, Inc. will post 12.59 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $6.00 dividend on an annualized basis and a yield of 3.97%. Advance Auto Parts’s dividend payout ratio (DPR) is 77.12%.

Advance Auto Parts Company Profile

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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.

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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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