US Bancorp DE grew its position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,397 shares of the company’s stock after purchasing an additional 125 shares during the quarter. US Bancorp DE’s holdings in Advance Auto Parts were worth $688,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Advance Auto Parts by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock valued at $1,442,611,000 after purchasing an additional 261,715 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Advance Auto Parts by 3.6% during the 1st quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock valued at $685,801,000 after purchasing an additional 114,789 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Advance Auto Parts by 22.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,636,189 shares of the company’s stock valued at $456,297,000 after acquiring an additional 482,858 shares during the period. Invesco Ltd. grew its stake in Advance Auto Parts by 10.8% in the 1st quarter. Invesco Ltd. now owns 1,018,797 shares of the company’s stock valued at $210,850,000 after acquiring an additional 99,400 shares during the period. Finally, Ceredex Value Advisors LLC grew its stake in Advance Auto Parts by 196.5% in the 2nd quarter. Ceredex Value Advisors LLC now owns 635,030 shares of the company’s stock valued at $110,848,000 after acquiring an additional 420,878 shares during the period. 96.04% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on AAP. Citigroup cut shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and dropped their price target for the company from $216.00 to $161.00 in a research note on Thursday, November 17th. Truist Financial cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating and dropped their price target for the company from $228.00 to $147.00 in a research note on Wednesday, November 16th. Royal Bank of Canada dropped their price target on shares of Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 17th. Guggenheim cut shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a research note on Thursday, November 17th. Finally, Morgan Stanley dropped their price target on shares of Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 17th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and an average target price of $190.00.
Advance Auto Parts Stock Up 2.9 %
Advance Auto Parts (NYSE:AAP – Get Rating) last posted its quarterly earnings results on Tuesday, November 15th. The company reported $2.84 EPS for the quarter, missing the consensus estimate of $3.32 by ($0.48). Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.66 billion. As a group, equities analysts anticipate that Advance Auto Parts, Inc. will post 12.59 earnings per share for the current year.
Advance Auto Parts Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 16th were issued a $1.50 dividend. The ex-dividend date was Thursday, December 15th. This represents a $6.00 annualized dividend and a yield of 4.07%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 77.12%.
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.
- Get a free copy of the StockNews.com research report on Advance Auto Parts (AAP)
- MarketBeat Week in Review – 1/16 – 1/20
- Does Old Dominion Show That Trucking Is Hitting The Brakes?
- Nordstrom Puts Fear Of Markdowns Into Retail Sector
- Exxon Mobil Stock: Within Striking Distance Of Buy Point
- High-Dividend-Yielding BHP Sees China Driving ’23 Growth
Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.