Sequoia Financial Advisors LLC Makes New $415,000 Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Sequoia Financial Advisors LLC acquired a new position in Advance Auto Parts, Inc. (NYSE:AAP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,792 shares of the company’s stock, valued at approximately $415,000.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP grew its position in Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares in the last quarter. Clear Street Markets LLC grew its position in Advance Auto Parts by 245.9% in the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in Advance Auto Parts in the 2nd quarter worth about $28,000. UMB Bank n.a. boosted its stake in Advance Auto Parts by 508.3% in the third quarter. UMB Bank n.a. now owns 511 shares of the company’s stock valued at $29,000 after acquiring an additional 427 shares during the last quarter. Finally, Covestor Ltd boosted its stake in 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 acquiring an additional 83 shares during the last quarter. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Stock Performance

NYSE AAP opened at $74.05 on Thursday. Advance Auto Parts, Inc. has a 1 year low of $47.73 and a 1 year high of $129.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.29. The stock has a market capitalization of $4.41 billion, a PE ratio of 100.07, a P/E/G ratio of 1.27 and a beta of 1.17. The company’s 50 day simple moving average is $74.00 and its two-hundred day simple moving average is $63.30.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the company earned $2.88 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts predict that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, April 11th. Advance Auto Parts’s payout ratio is 135.14%.

Insider Transactions at Advance Auto Parts

In related news, Director Carla Jean Bailo purchased 310 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $81.19 per share, with a total value of $25,168.90. Following the acquisition, the director now directly owns 5,789 shares of the company’s stock, valued at $470,008.91. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Carla Jean Bailo purchased 310 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $81.19 per share, with a total value of $25,168.90. Following the acquisition, the director now directly owns 5,789 shares of the company’s stock, valued at $470,008.91. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brent Windom purchased 4,700 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was bought at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $853,400. The disclosure for this purchase can be found here. Insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AAP. Royal Bank of Canada boosted their target price on shares of Advance Auto Parts from $47.00 to $68.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. Barclays boosted their target price on shares of Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. boosted their target price on shares of Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Evercore ISI dropped their target price on shares of Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, Truist Financial boosted their target price on shares of Advance Auto Parts from $60.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $70.18.

About Advance Auto Parts

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.