Illinois Municipal Retirement Fund Sells 2,309 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Illinois Municipal Retirement Fund trimmed its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,188 shares of the company’s stock after selling 2,309 shares during the period. Illinois Municipal Retirement Fund owned about 0.07% of Advance Auto Parts worth $2,636,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Caxton Associates LP purchased a new stake in Advance Auto Parts in the 3rd quarter valued at about $1,223,000. Kepos Capital LP purchased a new position in Advance Auto Parts during the 3rd quarter worth $3,356,000. Public Sector Pension Investment Board raised its position in Advance Auto Parts by 1,173.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 73,471 shares of the company’s stock valued at $4,109,000 after purchasing an additional 67,702 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Advance Auto Parts by 28.9% in the 3rd quarter. Rhumbline Advisers now owns 164,334 shares of the company’s stock worth $9,191,000 after buying an additional 36,872 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Advance Auto Parts by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,531,146 shares of the company’s stock worth $85,637,000 after buying an additional 107,540 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AAP shares. 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 target price on the stock. Barclays boosted their target price on shares of Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Royal Bank of Canada lifted their price objective on shares of Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. Evercore ISI decreased their target price on shares of Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Finally, Truist Financial lifted their price target on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $64.56.

Insider Activity

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

Advance Auto Parts Trading Down 1.9 %

Advance Auto Parts stock opened at $76.53 on Thursday. Advance Auto Parts, Inc. has a 12 month low of $47.73 and a 12 month high of $127.31. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71. The stock’s 50 day simple moving average is $75.06 and its two-hundred day simple moving average is $64.07. The firm has a market cap of $4.56 billion, a PE ratio of 103.42, a P/E/G ratio of 1.42 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last issued its quarterly 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). The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.88 EPS. Analysts anticipate that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Thursday, April 11th. Advance Auto Parts’s dividend payout ratio is presently 135.14%.

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.