Mackenzie Financial Corp Sells 1,339 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Mackenzie Financial Corp decreased its stake in Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 21.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,033 shares of the company’s stock after selling 1,339 shares during the period. Mackenzie Financial Corp’s holdings in Advance Auto Parts were worth $871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ceredex Value Advisors LLC grew its stake in Advance Auto Parts by 196.5% in the second quarter. Ceredex Value Advisors LLC now owns 635,030 shares of the company’s stock valued at $110,848,000 after purchasing an additional 420,878 shares in the last quarter. River Road Asset Management LLC increased its holdings in Advance Auto Parts by 62.0% during the first quarter. River Road Asset Management LLC now owns 1,055,464 shares of the company’s stock worth $218,439,000 after buying an additional 404,138 shares during the last quarter. JPMorgan Chase & Co. raised its position in Advance Auto Parts by 14.3% during the first quarter. JPMorgan Chase & Co. now owns 2,153,331 shares of the company’s stock worth $445,652,000 after acquiring an additional 269,514 shares in the last quarter. Vanguard Group Inc. raised its position in Advance Auto Parts by 3.9% during the first quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after acquiring an additional 261,715 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Advance Auto Parts by 202.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 390,826 shares of the company’s stock valued at $80,885,000 after acquiring an additional 261,608 shares during the last quarter. Institutional investors and hedge funds own 99.47% of the company’s stock.

Advance Auto Parts Stock Performance

NYSE AAP opened at $150.55 on Thursday. Advance Auto Parts, Inc. has a 12-month low of $145.59 and a 12-month high of $244.55. The firm has a 50-day moving average price of $170.23 and a two-hundred day moving average price of $180.93. The company has a market capitalization of $9.05 billion, a P/E ratio of 19.35, a P/E/G ratio of 0.94 and a beta of 1.27. The company has a quick ratio of 0.23, a current ratio of 1.13 and a debt-to-equity ratio of 0.44.

Advance Auto Parts (NYSE:AAPGet Rating) last issued its quarterly earnings results on Tuesday, August 23rd. The company reported $3.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.74. Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the company posted $3.40 earnings per share. Analysts anticipate that Advance Auto Parts, Inc. will post 12.62 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 16th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Thursday, December 15th. Advance Auto Parts’s payout ratio is currently 77.12%.

Wall Street Analyst Weigh In

AAP has been the topic of a number of research analyst reports. The Goldman Sachs Group dropped their target price on shares of Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating on the stock in a report on Thursday, November 17th. Wells Fargo & Company reduced their target price on Advance Auto Parts from $200.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 16th. Morgan Stanley dropped their price target on Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 17th. Stephens reduced their price objective on shares of Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Truist Financial lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating and dropped their price objective for the company from $228.00 to $147.00 in a research report on Wednesday, November 16th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.67.

Advance Auto Parts Company Profile

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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.

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

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