Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 277,200 shares of the company’s stock, valued at approximately $17,247,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. PEAK6 LLC bought a new stake in shares of Advance Auto Parts during the 2nd quarter worth $1,817,000. Capital Square LLC acquired a new stake in shares of Advance Auto Parts during the second quarter worth $409,000. Allworth Financial LP acquired a new stake in shares of Advance Auto Parts during the second quarter worth $25,000. NFJ Investment Group LLC acquired a new stake in shares of Advance Auto Parts during the second quarter worth $2,981,000. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of Advance Auto Parts during the second quarter valued at $7,596,000. Institutional investors and hedge funds own 88.70% of the company’s stock.
Advance Auto Parts Stock Up 0.0%
Advance Auto Parts stock opened at $43.63 on Wednesday. The firm has a market cap of $2.64 billion, a PE ratio of 31.85, a P/E/G ratio of 0.71 and a beta of 1.03. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.85 and a current ratio of 1.75. The firm’s 50 day moving average price is $55.89 and its two-hundred day moving average price is $55.26. Advance Auto Parts, Inc. has a twelve month low of $37.89 and a twelve month high of $65.21.
Advance Auto Parts Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 9th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 72.99%.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on AAP shares. TD Cowen decreased their price target on Advance Auto Parts from $61.00 to $45.00 and set a “hold” rating for the company in a research report on Thursday, August 20th. Truist Financial set a $43.00 price objective on Advance Auto Parts and gave the stock a “hold” rating in a report on Thursday, August 20th. The Goldman Sachs Group set a $49.00 price objective on shares of Advance Auto Parts in a research note on Friday. Barclays decreased their target price on shares of Advance Auto Parts from $59.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Morgan Stanley dropped their target price on shares of Advance Auto Parts from $65.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and a consensus target price of $50.80.
Get Our Latest Analysis on Advance Auto Parts
Advance Auto Parts Company Profile
Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.
The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.
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