Advance Auto Parts, Inc. (NYSE:AAP) Stake Increased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 35.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,917 shares of the company’s stock after purchasing an additional 3,359 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Advance Auto Parts were worth $788,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Caxton Associates LP acquired a new stake in Advance Auto Parts during the 3rd quarter worth about $1,223,000. Kepos Capital LP purchased a new stake in shares of Advance Auto Parts in the third quarter worth approximately $3,356,000. Public Sector Pension Investment Board boosted its holdings in shares of Advance Auto Parts by 1,173.5% during the third quarter. Public Sector Pension Investment Board now owns 73,471 shares of the company’s stock worth $4,109,000 after purchasing an additional 67,702 shares during the period. Rhumbline Advisers grew its position in Advance Auto Parts by 28.9% during the third quarter. Rhumbline Advisers now owns 164,334 shares of the company’s stock valued at $9,191,000 after purchasing an additional 36,872 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Advance Auto Parts by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,531,146 shares of the company’s stock valued at $85,637,000 after buying an additional 107,540 shares during the period. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock opened at $75.43 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $75.94 and a 200-day simple moving average of $64.76. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 101.93, a PEG ratio of 1.36 and a beta of 1.17. Advance Auto Parts, Inc. has a 1-year low of $47.73 and a 1-year high of $127.31.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Wednesday, February 28th. The company reported ($0.59) 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 the consensus estimate of $2.47 billion. During the same quarter last year, the business earned $2.88 EPS. The business’s revenue was down .4% compared to the same quarter last year. On average, sell-side analysts expect that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, April 11th. This represents a $1.00 annualized dividend and a yield of 1.33%. Advance Auto Parts’s payout ratio is 135.14%.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, Director Brent Windom purchased 4,700 shares of the business’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 completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $853,400. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Advance Auto Parts news, EVP Herman L. Word, Jr. sold 1,858 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $86.08, for a total value of $159,936.64. Following the completion of the sale, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brent Windom purchased 4,700 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was bought at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the transaction, 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 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AAP. Barclays lifted 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. Royal Bank of Canada lifted their price objective on Advance Auto Parts from $47.00 to $68.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. Mizuho began coverage on Advance Auto Parts in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 target price on the stock. Truist Financial raised their price target on Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Finally, TheStreet raised Advance Auto Parts from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. Two research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $64.56.

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.