FORA Capital LLC Acquires New Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

FORA Capital LLC purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 54,980 shares of the company's stock, valued at approximately $2,144,000. FORA Capital LLC owned 0.09% of Advance Auto Parts at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of AAP. Pzena Investment Management LLC grew its stake in Advance Auto Parts by 140.3% in the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company's stock valued at $113,409,000 after purchasing an additional 1,698,155 shares in the last quarter. Dorsal Capital Management LP grew its stake in shares of Advance Auto Parts by 159.7% in the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company's stock valued at $79,162,000 after buying an additional 768,664 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Advance Auto Parts by 76.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company's stock worth $80,197,000 after buying an additional 547,696 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Advance Auto Parts during the third quarter worth $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Advance Auto Parts during the third quarter worth $14,684,000. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Price Performance

Advance Auto Parts stock traded up $0.60 during midday trading on Thursday, reaching $44.44. The company's stock had a trading volume of 2,051,408 shares, compared to its average volume of 2,072,965. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The stock has a market cap of $2.65 billion, a PE ratio of 60.88 and a beta of 1.17. Advance Auto Parts, Inc. has a 52 week low of $35.59 and a 52 week high of $88.56. The business has a 50-day moving average price of $39.16 and a 200-day moving average price of $52.35.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.53). The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.82) earnings per share. On average, sell-side analysts predict that Advance Auto Parts, Inc. will post -0.51 EPS 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. Stockholders of record on Friday, January 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. Advance Auto Parts's dividend payout ratio (DPR) is presently 136.99%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AAP shares. Roth Capital upgraded shares of Advance Auto Parts to a "hold" rating in a research note on Tuesday, October 15th. The Goldman Sachs Group dropped their price objective on Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Wells Fargo & Company decreased their target price on 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. JPMorgan Chase & Co. cut their price target on Advance Auto Parts from $68.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, August 16th. Finally, Truist Financial dropped their price objective on shares of Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $48.64.

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.