Savoie Capital LLC Has $2.71 Million Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Savoie Capital LLC lifted its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 117.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,500 shares of the company's stock after purchasing an additional 37,500 shares during the period. Savoie Capital LLC owned about 0.12% of Advance Auto Parts worth $2,710,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AAP. Diversified Trust Co boosted its holdings in Advance Auto Parts by 3.5% in the second quarter. Diversified Trust Co now owns 6,787 shares of the company's stock valued at $430,000 after acquiring an additional 232 shares during the last quarter. Sei Investments Co. raised its position in shares of Advance Auto Parts by 0.5% during the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company's stock worth $3,779,000 after purchasing an additional 277 shares during the period. Qsemble Capital Management LP lifted its stake in Advance Auto Parts by 7.6% in the second quarter. Qsemble Capital Management LP now owns 4,036 shares of the company's stock valued at $256,000 after buying an additional 285 shares during the last quarter. Everence Capital Management Inc. raised its holdings in shares of Advance Auto Parts by 3.7% during the third quarter. Everence Capital Management Inc. now owns 8,330 shares of the company's stock valued at $325,000 after buying an additional 300 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Advance Auto Parts by 2.0% during the second quarter. Arizona State Retirement System now owns 16,687 shares of the company's stock valued at $1,057,000 after purchasing an additional 334 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AAP shares. Evercore ISI lifted their price target on Advance Auto Parts from $45.00 to $60.00 and gave the company a "hold" rating in a research report on Wednesday, November 20th. Wells Fargo & Company cut their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. TD Cowen decreased their price objective on Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating for the company in a research report on Friday, August 23rd. Truist Financial dropped their price objective on Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating on the stock in a report on Friday, November 15th. Finally, The Goldman Sachs Group reduced their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Advance Auto Parts presently has an average rating of "Hold" and a consensus price target of $48.64.

Advance Auto Parts Stock Performance

Shares of NYSE:AAP traded down $0.50 during midday trading on Tuesday, hitting $46.94. The company's stock had a trading volume of 1,391,723 shares, compared to its average volume of 2,084,398. Advance Auto Parts, Inc. has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 63.56 and a beta of 1.21. The stock's 50 day simple moving average is $39.68 and its 200 day simple moving average is $50.56.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the firm earned ($0.82) earnings per share. The business's quarterly revenue was down 3.2% on a year-over-year basis. As a group, research analysts anticipate that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.13%. Advance Auto Parts's dividend payout ratio is 136.99%.

Insider Transactions at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the sale, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company's stock.

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.