Alaska Permanent Fund Corp Lowers Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Alaska Permanent Fund Corp reduced its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 16.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,584 shares of the company’s stock after selling 6,116 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Advance Auto Parts were worth $1,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AAP. Fuller & Thaler Asset Management Inc. boosted its position in 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. Pzena Investment Management LLC purchased a new position in shares of Advance Auto Parts in the 3rd quarter worth approximately $73,882,000. Federated Hermes Inc. increased its position in shares of Advance Auto Parts by 2,716,800.0% during the fourth 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 in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Advance Auto Parts by 94.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 931,125 shares of the company’s stock worth $52,078,000 after purchasing an additional 452,488 shares in the last quarter. Finally, River Road Asset Management LLC grew its position in Advance Auto Parts by 125.1% during the 3rd quarter. River Road Asset Management LLC now owns 744,080 shares of the company’s stock worth $41,616,000 after purchasing an additional 413,489 shares during the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, EVP Herman L. Word, Jr. sold 1,858 shares of the company’s stock in a transaction 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 in the company, valued at $899,363.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Advance Auto Parts news, Director Carla Jean Bailo bought 310 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was acquired at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the completion of the purchase, 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 this link. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the company’s stock in a transaction 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 owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Advance Auto Parts Stock Performance

NYSE AAP opened at $74.70 on Friday. 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, Inc. has a 1-year low of $47.73 and a 1-year high of $127.31. The company has a market cap of $4.45 billion, a PE ratio of 100.95, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. The stock’s 50 day simple moving average is $75.51 and its 200-day simple moving average is $64.23.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. Advance Auto Parts’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.88 EPS. As a group, equities research analysts anticipate that Advance Auto Parts, Inc. will post 3.94 EPS 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 given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 135.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AAP shares. JPMorgan Chase & Co. lifted their price objective on shares of Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Evercore ISI decreased their target price on Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. TheStreet upgraded shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Mizuho began coverage on shares of Advance Auto Parts in a research note on Tuesday, March 19th. They set a “neutral” rating and a $78.00 price objective for the company. Finally, Truist Financial increased their price target on Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.