14,839 Shares in Advance Auto Parts, Inc. (NYSE:AAP) Acquired by Quest Partners LLC

Quest Partners LLC acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 14,839 shares of the company's stock, valued at approximately $579,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mather Group LLC. increased its holdings in Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company's stock worth $41,000 after buying an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Advance Auto Parts in the 2nd quarter valued at $41,000. Blue Trust Inc. lifted its stake in shares of Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company's stock valued at $47,000 after purchasing an additional 436 shares during the last quarter. AM Squared Ltd acquired a new position in Advance Auto Parts during the second quarter worth $63,000. Finally, KBC Group NV raised its holdings in Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company's stock valued at $68,000 after buying an additional 394 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AAP. Roth Mkm reissued a "neutral" rating and set a $40.00 price objective on shares of Advance Auto Parts in a report on Wednesday, October 16th. The Goldman Sachs Group lowered their price target on Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. Mizuho restated a "neutral" rating and issued a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Royal Bank of Canada lowered their target price on shares of 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. Finally, TD Cowen cut their target price on shares of Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating for the company in a research report on Friday, August 23rd. 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, Advance Auto Parts presently has a consensus rating of "Hold" and an average target price of $48.64.

Advance Auto Parts Price Performance

Shares of AAP traded up $2.10 during trading hours on Friday, hitting $40.79. The stock had a trading volume of 2,577,487 shares, compared to its average volume of 3,021,056. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 55.88 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The company's fifty day moving average is $39.03 and its two-hundred day moving average is $53.39. Advance Auto Parts, Inc. has a 52 week low of $35.59 and a 52 week high of $88.56.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted 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 the consensus estimate of $2.62 billion. During the same quarter last year, the firm posted ($0.82) EPS. The business's revenue was down 3.2% on a year-over-year basis. On average, analysts anticipate that Advance Auto Parts, Inc. will post -0.51 EPS for the current year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, January 10th. Advance Auto Parts's dividend payout ratio is currently 136.99%.

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.