Guggenheim Capital LLC Grows Position in Advance Auto Parts, Inc. (NYSE:AAP)

Guggenheim Capital LLC increased its position in Advance Auto Parts, Inc. (NYSE:AAP) by 10.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,602 shares of the company’s stock after purchasing an additional 922 shares during the quarter. Guggenheim Capital LLC’s holdings in Advance Auto Parts were worth $1,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Advance Auto Parts by 3.9% in 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 during the period. Clearbridge Investments LLC increased its position in 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 buying an additional 114,789 shares in the last quarter. Geode Capital Management LLC increased its position in Advance Auto Parts by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,276,656 shares of the company’s stock valued at $187,381,000 after buying an additional 4,859 shares in the last quarter. Invesco Ltd. increased its position in Advance Auto Parts by 10.8% during the 1st quarter. Invesco Ltd. now owns 1,018,797 shares of the company’s stock valued at $210,850,000 after buying an additional 99,400 shares in the last quarter. Finally, Morgan Stanley increased its position in Advance Auto Parts by 6.7% during the 4th quarter. Morgan Stanley now owns 894,618 shares of the company’s stock valued at $131,536,000 after buying an additional 55,985 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AAP shares. Stephens reduced their price objective on Advance Auto Parts from $77.00 to $71.00 and set an “equal weight” rating for the company in a research report on Friday, August 25th. Raymond James lowered Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, June 1st. Truist Financial reduced their price objective on Advance Auto Parts from $67.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, August 24th. Northcoast Research initiated coverage on Advance Auto Parts in a research report on Wednesday, June 28th. They set a “neutral” rating for the company. Finally, Barclays reduced their target price on Advance Auto Parts from $129.00 to $69.00 in a report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $94.74.

Insider Transactions at Advance Auto Parts

In other news, Director Carla Jean Bailo bought 500 shares of Advance Auto Parts stock in a transaction dated Wednesday, June 7th. The shares were purchased at an average cost of $65.90 per share, with a total value of $32,950.00. Following the completion of the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $32,950. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Douglas A. Pertz acquired 4,575 shares of Advance Auto Parts stock in a transaction on Monday, June 12th. The shares were bought at an average cost of $66.02 per share, with a total value of $302,041.50. Following the completion of the purchase, the director now directly owns 12,831 shares of the company’s stock, valued at approximately $847,102.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carla Jean Bailo acquired 500 shares of Advance Auto Parts stock in a transaction on Wednesday, June 7th. The shares were bought at an average cost of $65.90 per share, for a total transaction of $32,950.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at $32,950. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 5,463 shares of company stock valued at $359,924. 0.63% of the stock is currently owned by insiders.

Advance Auto Parts Price Performance

NYSE AAP opened at $67.65 on Friday. The business’s fifty day moving average is $70.05 and its 200 day moving average is $98.90. Advance Auto Parts, Inc. has a fifty-two week low of $63.09 and a fifty-two week high of $194.35. The company has a market capitalization of $4.02 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.25 and a current ratio of 1.26.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Wednesday, August 23rd. The company reported $1.43 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.23). Advance Auto Parts had a net margin of 3.08% and a return on equity of 17.53%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the firm earned $3.74 earnings per share. Advance Auto Parts’s revenue was up .8% on a year-over-year basis. Sell-side analysts predict that Advance Auto Parts, Inc. will post 4.72 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.48%. Advance Auto Parts’s dividend payout ratio (DPR) is 17.30%.

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.