Geode Capital Management LLC Has $32.37 Million Position in Advance Auto Parts, Inc. (NYSE:AAP)

Geode Capital Management LLC lowered its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 11.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 830,005 shares of the company's stock after selling 109,326 shares during the period. Geode Capital Management LLC owned approximately 1.39% of Advance Auto Parts worth $32,372,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sei Investments Co. lifted its holdings in shares of Advance Auto Parts by 0.5% in the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company's stock valued at $3,779,000 after buying an additional 277 shares during the period. Qsemble Capital Management LP grew its stake in shares of Advance Auto Parts by 7.6% during the 2nd quarter. Qsemble Capital Management LP now owns 4,036 shares of the company's stock worth $256,000 after purchasing an additional 285 shares during the period. Everence Capital Management Inc. increased its holdings in shares of Advance Auto Parts by 3.7% in the 3rd quarter. Everence Capital Management Inc. now owns 8,330 shares of the company's stock valued at $325,000 after purchasing an additional 300 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Advance Auto Parts by 2.0% in 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 during the period. Finally, The Manufacturers Life Insurance Company grew its position in Advance Auto Parts by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 13,127 shares of the company's stock worth $831,000 after buying an additional 369 shares during the period. Hedge funds and other institutional investors own 88.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI boosted their price target on Advance Auto Parts from $45.00 to $60.00 and gave the stock a "hold" rating in a research note on Wednesday, November 20th. Wells Fargo & Company reduced their price target on Advance Auto Parts from $50.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Friday, September 13th. DA Davidson reiterated a "neutral" rating and set a $45.00 price objective on shares of Advance Auto Parts in a research note on Friday, November 15th. Truist Financial reduced their price objective on Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating for the company in a research report on Friday, November 15th. Finally, Roth Capital upgraded shares of Advance Auto Parts to a "hold" rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $48.40.

Insider Buying and Selling at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the transaction, the executive vice president now owns 24,266 shares in the company, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.35% of the company's stock.

Advance Auto Parts Stock Performance

Shares of AAP stock traded up $0.51 on Thursday, reaching $44.24. The stock had a trading volume of 1,349,841 shares, compared to its average volume of 2,066,539. Advance Auto Parts, Inc. has a 12 month low of $35.59 and a 12 month high of $88.56. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 60.60 and a beta of 1.21. The firm's 50-day moving average is $41.03 and its two-hundred day moving average is $48.75.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.53). The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.82) EPS. On average, research analysts expect that Advance Auto Parts, Inc. will post -0.54 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be paid a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. Advance Auto Parts's dividend payout ratio (DPR) is 136.99%.

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.