Quantbot Technologies LP Increases Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Quantbot Technologies LP increased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 564.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,887 shares of the company's stock after purchasing an additional 20,293 shares during the period. Quantbot Technologies LP's holdings in Advance Auto Parts were worth $931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mather Group LLC. grew its holdings in Advance Auto Parts by 1,241.7% during the second 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 Advance Auto Parts in the 2nd quarter valued at about $41,000. Blue Trust Inc. lifted its position in Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company's stock worth $47,000 after acquiring an additional 436 shares during the last quarter. AM Squared Ltd bought a new stake in shares of Advance Auto Parts during the second quarter worth approximately $63,000. Finally, KBC Group NV increased its stake in shares of Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company's stock worth $68,000 after purchasing an additional 394 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Price Performance

Shares of NYSE:AAP traded up $1.23 during trading on Monday, reaching $42.58. 1,824,054 shares of the company's stock traded hands, compared to its average volume of 2,074,836. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. 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 50-day simple moving average of $39.21 and a 200-day simple moving average of $51.73. The firm has a market cap of $2.54 billion, a PE ratio of 58.74 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 net margin of 0.41% and a return on equity of 1.82%. The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the previous year, the firm earned ($0.82) EPS. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, analysts predict that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently declared 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 dividend yield of 2.35%. Advance Auto Parts's dividend payout ratio (DPR) is presently 136.99%.

Analyst Upgrades and Downgrades

AAP has been the subject of a number of recent research reports. The Goldman Sachs Group cut their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating for the company in a report on Friday, November 15th. Evercore ISI lifted their price target on shares of Advance Auto Parts from $45.00 to $60.00 and gave the stock a "hold" rating in a report on Wednesday, November 20th. Wedbush reissued an "outperform" rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday, November 15th. TD Cowen cut their target price on Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating on the stock in a report on Friday, August 23rd. Finally, Truist Financial decreased their price target on Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating for the company in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts currently has an average rating of "Hold" and a consensus target price of $48.64.

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.