FORA Capital LLC Purchases Shares of 54,980 Advance Auto Parts, Inc. (NYSE:AAP)

FORA Capital LLC acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 54,980 shares of the company’s stock, valued at approximately $2,144,000. FORA Capital LLC owned 0.09% of Advance Auto Parts as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Pzena Investment Management LLC increased its stake in Advance Auto Parts by 140.3% during the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after acquiring an additional 1,698,155 shares during the period. Dorsal Capital Management LP increased its position in shares of Advance Auto Parts by 159.7% during the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock valued at $79,162,000 after purchasing an additional 768,664 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Advance Auto Parts by 76.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after purchasing an additional 547,696 shares in the last quarter. International Assets Investment Management LLC bought a new position in Advance Auto Parts in the third quarter worth $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Advance Auto Parts during the third quarter worth $14,684,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAP. JPMorgan Chase & Co. dropped their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Wells Fargo & Company dropped their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Roth Mkm reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a report on Wednesday, October 16th. Truist Financial lowered their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Finally, TD Cowen cut their target price on 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 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 company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.64.

Advance Auto Parts Stock Up 1.4 %

Shares of NYSE AAP opened at $44.44 on Thursday. Advance Auto Parts, Inc. has a 12-month low of $35.59 and a 12-month high of $88.56. The firm’s 50-day simple moving average is $39.11 and its 200 day simple moving average is $52.41. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 60.88 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last announced 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). The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. Advance Auto Parts’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.82) earnings per share. On average, research analysts expect that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.25%. Advance Auto Parts’s payout ratio is 136.99%.

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.