PNC Financial Services Group Inc. Has $456,000 Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

PNC Financial Services Group Inc. lessened its holdings in Advance Auto Parts, Inc. (NYSE:AAPFree Report) by 49.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,472 shares of the company’s stock after selling 7,317 shares during the period. PNC Financial Services Group Inc.’s holdings in Advance Auto Parts were worth $456,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. lifted its position in shares of Advance Auto Parts by 2,226.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,026,668 shares of the company’s stock valued at $113,352,000 after purchasing an additional 1,939,560 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Advance Auto Parts by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,577,372 shares of the company’s stock worth $96,267,000 after purchasing an additional 46,226 shares during the last quarter. Pzena Investment Management LLC purchased a new position in Advance Auto Parts in the third quarter worth $73,882,000. Jacobs Levy Equity Management Inc. increased its position in shares of Advance Auto Parts by 94.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 931,125 shares of the company’s stock valued at $52,078,000 after purchasing an additional 452,488 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Advance Auto Parts by 2,716,800.0% during the 4th quarter. Federated Hermes Inc. now owns 842,239 shares of the company’s stock worth $51,402,000 after purchasing an additional 842,208 shares during the period. Institutional investors own 88.75% of the company’s stock.

Insider Activity

In related news, Director Brent Windom acquired 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were bought at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $853,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Brent Windom bought 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, for a total transaction of $401,098.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $853,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $86.08, for a total value of $159,936.64. Following the sale, the executive vice president now owns 10,448 shares in the company, valued at approximately $899,363.84. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Advance Auto Parts Price Performance

AAP stock opened at $67.42 on Tuesday. The firm has a 50 day moving average of $75.62 and a 200-day moving average of $67.97. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $4.02 billion, a P/E ratio of 97.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.20. Advance Auto Parts, Inc. has a 12 month low of $47.73 and a 12 month high of $88.56.

Advance Auto Parts (NYSE:AAPGet Free Report) last announced its quarterly earnings results on Wednesday, May 29th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.02). The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.43 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. As a group, sell-side analysts predict that Advance Auto Parts, Inc. will post 3.76 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a $0.25 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.48%. Advance Auto Parts’s payout ratio is currently 144.93%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of Advance Auto Parts from $70.00 to $63.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Bank of America raised their price target on shares of Advance Auto Parts from $51.00 to $55.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. Evercore ISI dropped their price objective on Advance Auto Parts from $80.00 to $72.00 and set an “in-line” rating on the stock in a research note on Thursday, May 30th. JPMorgan Chase & Co. raised their target price on Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada dropped their price target on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 30th. Two analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. According to data from MarketBeat, Advance Auto Parts currently has a consensus rating of “Hold” and an average target price of $64.87.

Check Out Our Latest Analysis on AAP

Advance Auto Parts Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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