Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Quarry LP

Quarry LP trimmed its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 92.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,105 shares of the company's stock after selling 14,275 shares during the period. Quarry LP's holdings in Advance Auto Parts were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of Advance Auto Parts during the second quarter valued at about $41,000. Blue Trust Inc. raised its position in Advance Auto Parts by 98.7% during the 2nd quarter. Blue Trust Inc. now owns 769 shares of the company's stock valued at $49,000 after purchasing an additional 382 shares during the last quarter. AM Squared Ltd purchased a new stake in Advance Auto Parts in the 2nd quarter worth approximately $63,000. KBC Group NV grew its position in shares of Advance Auto Parts by 29.1% in the 3rd quarter. KBC Group NV now owns 1,749 shares of the company's stock worth $68,000 after buying an additional 394 shares during the last quarter. Finally, City State Bank purchased a new position in shares of Advance Auto Parts during the third quarter valued at approximately $78,000. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Stock Down 3.1 %

Shares of Advance Auto Parts stock traded down $1.44 during trading on Wednesday, hitting $45.62. 609,338 shares of the stock traded hands, compared to its average volume of 2,081,444. Advance Auto Parts, Inc. has a 52-week low of $35.59 and a 52-week high of $88.56. The stock's fifty day simple moving average is $39.87 and its 200 day simple moving average is $50.40. The firm has a market cap of $2.73 billion, a P/E ratio of 64.48 and a beta of 1.21. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.82) earnings per share. On average, equities analysts predict that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders 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 annualized dividend and a yield of 2.19%. Advance Auto Parts's dividend payout ratio (DPR) is presently 136.99%.

Insiders Place Their Bets

In other news, EVP Tammy M. Finley sold 1,276 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 24,266 shares of the company's stock, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AAP has been the topic of several recent analyst reports. Evercore ISI lifted their price target on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a "hold" rating in a report on Wednesday, November 20th. Truist Financial reduced their price target 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. Royal Bank of Canada lowered their price objective on shares of Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating for the company in a report on Monday, November 11th. Roth Mkm reiterated a "neutral" rating and set a $40.00 target price on shares of Advance Auto Parts in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered their target price on Advance Auto Parts from $68.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $48.64.

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.