20,645 Shares in Advance Auto Parts, Inc. (NYSE:AAP) Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,645 shares of the company’s stock, valued at approximately $1,307,000.

Several other institutional investors and hedge funds also recently bought and sold shares of AAP. Third Point LLC purchased a new stake in shares of Advance Auto Parts during the 1st quarter valued at approximately $127,234,000. Federated Hermes Inc. raised its position in Advance Auto Parts by 2,716,800.0% in the fourth quarter. Federated Hermes Inc. now owns 842,239 shares of the company’s stock valued at $51,402,000 after purchasing an additional 842,208 shares during the period. UBS Group AG lifted its stake in shares of Advance Auto Parts by 337.7% in the 4th quarter. UBS Group AG now owns 811,734 shares of the company’s stock valued at $49,540,000 after purchasing an additional 626,294 shares during the last quarter. Capital World Investors grew its holdings in shares of Advance Auto Parts by 67.0% during the 1st quarter. Capital World Investors now owns 1,533,933 shares of the company’s stock worth $130,522,000 after purchasing an additional 615,674 shares during the period. Finally, Norges Bank acquired a new stake in shares of Advance Auto Parts during the 4th quarter worth about $37,522,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on AAP shares. Evercore ISI decreased their target price on shares of Advance Auto Parts from $70.00 to $68.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Wedbush reaffirmed a “neutral” rating and set a $65.00 price objective on shares of Advance Auto Parts in a research report on Friday, August 9th. Mizuho dropped their target price on shares of Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating for the company in a report on Monday, June 10th. Royal Bank of Canada decreased their price target on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 30th. Finally, UBS Group lifted their price objective on Advance Auto Parts from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the stock. Based on data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and a consensus price target of $63.36.

Advance Auto Parts Stock Down 0.2 %

Shares of AAP stock traded down $0.13 during trading hours on Friday, reaching $62.26. 46,588 shares of the stock were exchanged, compared to its average volume of 1,617,273. Advance Auto Parts, Inc. has a 12-month low of $47.73 and a 12-month high of $88.56. The business’s fifty day moving average is $61.73 and its two-hundred day moving average is $69.03. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 0.29. The firm has a market capitalization of $3.71 billion, a P/E ratio of 89.14, a P/E/G ratio of 1.20 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Wednesday, May 29th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. As a group, research analysts expect that Advance Auto Parts, Inc. will post 3.7 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Friday, July 12th. Advance Auto Parts’s dividend payout ratio (DPR) is 144.93%.

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.