2,442 Shares in Advance Auto Parts, Inc. (NYSE:AAP) Bought by CWA Asset Management Group LLC

Posted by Defense World Staff on Mar 19th, 2023

CWA Asset Management Group LLC purchased a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,442 shares of the company’s stock, valued at approximately $359,000.

Other large investors have also added to or reduced their stakes in the company. Covestor Ltd grew its stake in Advance Auto Parts by 113.7% during the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares during the last quarter. Private Trust Co. NA purchased a new stake in Advance Auto Parts during the 2nd quarter valued at about $36,000. First Personal Financial Services grew its stake in Advance Auto Parts by 113.3% during the 3rd 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 last quarter. AllSquare Wealth Management LLC purchased a new stake in Advance Auto Parts during the 2nd quarter valued at about $43,000. Finally, Ronald Blue Trust Inc. purchased a new stake in Advance Auto Parts during the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors own 96.04% of the company’s stock.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock opened at $119.40 on Friday. The business has a 50 day simple moving average of $144.08 and a two-hundred day simple moving average of $156.19. Advance Auto Parts, Inc. has a 12 month low of $117.89 and a 12 month high of $231.43. The stock has a market capitalization of $7.08 billion, a P/E ratio of 14.44, a PEG ratio of 1.00 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.21.

Advance Auto Parts (NYSE:AAP – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.47. Advance Auto Parts had a return on equity of 28.53% and a net margin of 4.50%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the firm earned $2.07 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts predict that Advance Auto Parts, Inc. will post 10.65 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be given a $1.50 dividend. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 5.03%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 72.55%.

Wall Street Analyst Weigh In

AAP has been the topic of several research analyst reports. Wells Fargo & Company dropped their price target on Advance Auto Parts from $180.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 5th. Wedbush raised Advance Auto Parts from a “neutral” rating to an “outperform” rating in a report on Friday, January 13th. Argus cut Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Raymond James decreased their price objective on Advance Auto Parts from $200.00 to $180.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 1st. Finally, DA Davidson decreased their price objective on Advance Auto Parts from $170.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $166.89.

Advance Auto Parts Profile

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Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.