Sequoia Financial Advisors LLC Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Sequoia Financial Advisors LLC purchased a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,792 shares of the company’s stock, valued at approximately $415,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in Advance Auto Parts by 190.0% during the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after buying an additional 266 shares in the last quarter. Clear Street Markets LLC lifted its position in Advance Auto Parts by 245.9% during the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $26,000 after buying an additional 150 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in Advance Auto Parts during the 2nd quarter worth about $28,000. UMB Bank n.a. lifted its position in Advance Auto Parts by 508.3% during the 3rd quarter. UMB Bank n.a. now owns 511 shares of the company’s stock worth $29,000 after buying an additional 427 shares in the last quarter. Finally, Covestor Ltd lifted its position in Advance Auto Parts by 113.7% during the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after buying an additional 83 shares in the last quarter. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Stock Performance

Shares of NYSE:AAP opened at $74.05 on Thursday. The company’s 50 day moving average price is $74.00 and its two-hundred day moving average price is $63.30. Advance Auto Parts, Inc. has a 12-month low of $47.73 and a 12-month high of $129.90. The firm has a market cap of $4.41 billion, a PE ratio of 100.07, a PEG ratio of 1.27 and a beta of 1.17. The company has a quick ratio of 0.29, a current ratio of 1.20 and a debt-to-equity ratio of 0.71.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the company earned $2.88 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts predict that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. Advance Auto Parts’s payout ratio is presently 135.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho initiated coverage on shares of Advance Auto Parts in a research report on Tuesday, March 19th. They set a “neutral” rating and a $78.00 price target on the stock. Barclays upped their target price on shares of Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Truist Financial upped their target price on shares of Advance Auto Parts from $60.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, April 2nd. Evercore ISI dropped their target price on shares of Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating on the stock in a report on Tuesday. Finally, TheStreet raised shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $70.18.

Insiders Place Their Bets

In other Advance Auto Parts news, Director Carla Jean Bailo bought 310 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were purchased at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the transaction, the director now directly owns 5,789 shares in the company, valued at approximately $470,008.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Herman L. Word, Jr. sold 1,858 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $86.08, for a total transaction of $159,936.64. Following the sale, the executive vice president now owns 10,448 shares in the company, valued at approximately $899,363.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carla Jean Bailo purchased 310 shares of Advance Auto Parts stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the transaction, the director now directly owns 5,789 shares in the company, valued at approximately $470,008.91. The disclosure for this purchase can be found here. Company insiders own 0.63% of the company’s stock.

Advance Auto Parts 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.