Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 43.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,129 shares of the company's stock after selling 16,407 shares during the period. Janney Montgomery Scott LLC's holdings in Advance Auto Parts were worth $824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAP. Allspring Global Investments Holdings LLC purchased a new position in shares of Advance Auto Parts during the first quarter valued at $34,000. Mather Group LLC. lifted its position in shares of Advance Auto Parts by 1,241.7% in the 2nd quarter. Mather Group LLC. now owns 644 shares of the company's stock worth $41,000 after purchasing an additional 596 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Advance Auto Parts during the second quarter valued at approximately $41,000. Blue Trust Inc. raised its stake in Advance Auto Parts by 98.7% in the second quarter. Blue Trust Inc. now owns 769 shares of the company's stock worth $49,000 after buying an additional 382 shares in the last quarter. Finally, AM Squared Ltd purchased a new stake in Advance Auto Parts during the second quarter worth $63,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Price Performance

AAP traded up $2.40 on Monday, hitting $40.09. 3,315,003 shares of the company were exchanged, compared to its average volume of 2,059,499. The business's fifty day moving average is $39.02 and its 200 day moving average is $54.11. 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 0.30 and a current ratio of 1.34. The firm has a market capitalization of $2.39 billion, a P/E ratio of 51.63 and a beta of 1.17.

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). 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 for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the firm posted ($0.82) EPS. The business's revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Advance Auto Parts, Inc. will post 2.26 EPS for the current year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be paid 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 2.49%. Advance Auto Parts's dividend payout ratio is presently 136.99%.

Analyst Ratings Changes

Several research firms have commented on AAP. Wells Fargo & Company decreased their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. DA Davidson restated a "neutral" rating and set a $45.00 target price on shares of Advance Auto Parts in a research note on Friday. Royal Bank of Canada dropped their price target on Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating on the stock in a research note on Monday, November 11th. Evercore ISI lowered their target price on shares of Advance Auto Parts from $71.00 to $67.00 and set an "in-line" rating for the company in a research note on Tuesday, October 22nd. Finally, Wedbush restated an "outperform" rating and set a $55.00 price target on shares of Advance Auto Parts in a research note on Friday. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $49.14.

Advance Auto Parts Company 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.