Advance Auto Parts, Inc. (NYSE:AAP) Stake Boosted by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its stake in Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 2,014 shares of the company’s stock after acquiring an additional 70 shares during the period. Kestra Advisory Services LLC’s holdings in Advance Auto Parts were worth $483,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AAP. Arkadios Wealth Advisors grew its stake in Advance Auto Parts by 479.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 168 shares of the company’s stock valued at $35,000 after acquiring an additional 139 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Advance Auto Parts by 423.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $39,000 after acquiring an additional 216 shares in the last quarter. Tobam grew its stake in Advance Auto Parts by 466.7% during the 3rd quarter. Tobam now owns 238 shares of the company’s stock valued at $50,000 after acquiring an additional 196 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Advance Auto Parts by 23.9% during the 3rd quarter. Geneos Wealth Management Inc. now owns 259 shares of the company’s stock valued at $53,000 after acquiring an additional 50 shares in the last quarter. Finally, Liberty Wealth Management LLC grew its stake in Advance Auto Parts by 120.0% during the 3rd quarter. Liberty Wealth Management LLC now owns 286 shares of the company’s stock valued at $63,000 after acquiring an additional 156 shares in the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on AAP shares. Morgan Stanley lifted their target price on Advance Auto Parts from $235.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 16th. JPMorgan Chase & Co. lifted their price target on Advance Auto Parts from $276.00 to $280.00 in a report on Friday, February 11th. StockNews.com assumed coverage on Advance Auto Parts in a report on Thursday. They set a “buy” rating for the company. Truist Financial assumed coverage on Advance Auto Parts in a report on Thursday, January 13th. They set a “buy” rating and a $273.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on Advance Auto Parts from $255.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 15th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Advance Auto Parts has a consensus rating of “Buy” and an average price target of $256.65.

AAP opened at $211.82 on Thursday. The business has a 50 day moving average price of $215.50 and a 200 day moving average price of $222.95. Advance Auto Parts, Inc. has a twelve month low of $179.60 and a twelve month high of $244.55. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 1.21. The firm has a market cap of $12.94 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30.

Advance Auto Parts (NYSE:AAPGet Rating) last issued its quarterly earnings results on Monday, February 14th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.10. Advance Auto Parts had a return on equity of 23.63% and a net margin of 5.60%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the company earned $1.87 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts anticipate that Advance Auto Parts, Inc. will post 13.81 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 1st. Stockholders of record on Friday, March 18th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, March 17th. This is a positive change from Advance Auto Parts’s previous quarterly dividend of $1.00. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.83%. Advance Auto Parts’s payout ratio is 62.96%.

Advance Auto Parts Company Profile (Get Rating)

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.

See Also

Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAPGet Rating).

Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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Katherine T. Burrows

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