California Public Employees Retirement System Sells 17,345 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

California Public Employees Retirement System decreased its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 15.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,985 shares of the company’s stock after selling 17,345 shares during the quarter. California Public Employees Retirement System’s holdings in Advance Auto Parts were worth $5,797,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AAP. Allworth Financial LP increased its position in Advance Auto Parts by 190.0% during the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after purchasing an additional 266 shares during the period. Larson Financial Group LLC increased its position in shares of Advance Auto Parts by 264.6% during the third quarter. Larson Financial Group LLC now owns 689 shares of the company’s stock worth $39,000 after buying an additional 500 shares during the period. EverSource Wealth Advisors LLC raised its stake in Advance Auto Parts by 594.2% during the third quarter. EverSource Wealth Advisors LLC now owns 840 shares of the company’s stock worth $47,000 after buying an additional 719 shares during the last quarter. Signaturefd LLC lifted its holdings in Advance Auto Parts by 20.0% in the third quarter. Signaturefd LLC now owns 1,677 shares of the company’s stock valued at $94,000 after buying an additional 279 shares during the period. Finally, Sandy Spring Bank bought a new stake in Advance Auto Parts during the third quarter valued at $96,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Trading Up 1.9 %

Shares of AAP stock opened at $76.31 on Friday. The company has a 50 day moving average of $76.99 and a 200-day moving average of $65.27. The company has a quick ratio of 0.29, a current ratio of 1.20 and a debt-to-equity ratio of 0.71. Advance Auto Parts, Inc. has a 12-month low of $47.73 and a 12-month high of $127.31. The firm has a market cap of $4.55 billion, a P/E ratio of 103.12, a PEG ratio of 1.36 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP) last issued its quarterly 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 company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the business earned $2.88 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts anticipate that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders 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 dividend yield of 1.31%. Advance Auto Parts’s payout ratio is currently 135.14%.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, Director Brent Windom acquired 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was bought at an average cost of $85.34 per share, with a total value of $401,098.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $853,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Advance Auto Parts news, Director Carla Jean Bailo acquired 310 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average cost of $81.19 per share, with a total value of $25,168.90. Following the acquisition, the director now owns 5,789 shares in the company, valued at $470,008.91. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brent Windom acquired 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was acquired at an average cost of $85.34 per share, with a total value of $401,098.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $853,400. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays upped their target price on Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. increased their price target on Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Truist Financial lifted their price target 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. Evercore ISI cut their price objective on shares of Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada boosted their target price 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. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.