Alaska Permanent Fund Corp Sells 6,116 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Alaska Permanent Fund Corp decreased its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,584 shares of the company’s stock after selling 6,116 shares during the period. Alaska Permanent Fund Corp owned about 0.05% of Advance Auto Parts worth $1,867,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Yousif Capital Management LLC lifted its stake in shares of Advance Auto Parts by 1.0% in the 4th quarter. Yousif Capital Management LLC now owns 31,427 shares of the company’s stock valued at $1,918,000 after acquiring an additional 315 shares during the last quarter. GAMMA Investing LLC acquired a new position in Advance Auto Parts in the 4th quarter worth about $63,000. OLD National Bancorp IN bought a new position in Advance Auto Parts in the fourth quarter valued at about $222,000. Handelsbanken Fonder AB boosted its stake in shares of Advance Auto Parts by 28.8% during the fourth quarter. Handelsbanken Fonder AB now owns 10,300 shares of the company’s stock valued at $629,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Ninety One UK Ltd bought a new stake in shares of Advance Auto Parts during the fourth quarter worth about $5,737,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Insider Buying and Selling

In related news, Director Carla Jean Bailo acquired 310 shares of the stock in a transaction on Monday, March 18th. The shares were acquired at an average price of $81.19 per share, with a total value of $25,168.90. Following the completion of the transaction, the director now owns 5,789 shares in the company, valued at approximately $470,008.91. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Carla Jean Bailo acquired 310 shares of Advance Auto Parts stock in a transaction on Monday, March 18th. The stock was acquired at an average cost of $81.19 per share, with a total value of $25,168.90. Following the completion of the acquisition, the director now owns 5,789 shares in the company, valued at $470,008.91. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brent Windom bought 4,700 shares of the stock in a transaction on Wednesday, March 27th. The stock was purchased at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $853,400. The disclosure for this purchase can be found here. 0.35% of the stock is owned by insiders.

Advance Auto Parts Price Performance

AAP stock opened at $74.70 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20. The business has a 50-day simple moving average of $75.51 and a two-hundred day simple moving average of $64.23. The company has a market capitalization of $4.45 billion, a P/E ratio of 100.95, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. Advance Auto Parts, Inc. has a 52-week low of $47.73 and a 52-week high of $127.31.

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

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Thursday, April 11th. Advance Auto Parts’s payout ratio is 135.14%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAP. Evercore ISI cut 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 research report on Tuesday, April 16th. Royal Bank of Canada increased their price objective on Advance Auto Parts from $47.00 to $68.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Mizuho initiated coverage on Advance Auto Parts in a report on Tuesday, March 19th. They set a “neutral” rating and a $78.00 target price on the stock. Barclays increased their price target on Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Finally, Truist Financial lifted their price objective on Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $64.56.

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.