International Assets Investment Management LLC Takes Position in Advance Auto Parts, Inc. (NYSE:AAP)

International Assets Investment Management LLC bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 55,110 shares of the company’s stock, valued at approximately $3,363,000.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of Advance Auto Parts by 190.0% during the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Advance Auto Parts by 264.6% in the third quarter. Larson Financial Group LLC now owns 689 shares of the company’s stock valued at $39,000 after buying an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 stake 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 acquiring an additional 279 shares during the last quarter. Finally, Sandy Spring Bank acquired a new position in shares of Advance Auto Parts during the 3rd quarter worth about $96,000. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $75.66 on Friday. The stock’s 50 day moving average is $77.78 and its 200 day moving average is $65.81. Advance Auto Parts, Inc. has a one year low of $47.73 and a one year high of $127.31. The firm has a market cap of $4.51 billion, a P/E ratio of 102.24, a P/E/G ratio of 1.39 and a beta of 1.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.29.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the company posted $2.88 EPS. The business’s revenue was down .4% compared to the same quarter last year. As a group, research analysts expect that Advance Auto Parts, Inc. will post 3.94 EPS for the current year.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. Advance Auto Parts’s payout ratio is presently 135.14%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Evercore ISI decreased their price target 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, April 16th. TheStreet upgraded shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. Truist Financial raised their target price on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Mizuho assumed coverage on Advance Auto Parts in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $78.00 price target for the company. Finally, JPMorgan Chase & Co. upped their target price on Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $64.56.

Insider Buying and Selling

In related news, Director Carla Jean Bailo acquired 310 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the completion of the acquisition, the director now owns 5,789 shares of the company’s stock, valued at $470,008.91. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Herman L. Word, Jr. sold 1,858 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the transaction, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at $899,363.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carla Jean Bailo acquired 310 shares of the stock in a transaction on Monday, March 18th. The shares were acquired at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the acquisition, the director now owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The disclosure for this purchase can be found here. 0.35% of the stock is owned by insiders.

Advance Auto Parts 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.