Picton Mahoney Asset Management Invests $411,000 in Advance Auto Parts, Inc. (NYSE:AAP)

Picton Mahoney Asset Management purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,728 shares of the company’s stock, valued at approximately $411,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caxton Associates LP acquired a new stake in shares of Advance Auto Parts during the third quarter worth $1,223,000. Kepos Capital LP bought a new position in Advance Auto Parts during the third quarter worth about $3,356,000. Public Sector Pension Investment Board boosted its holdings in Advance Auto Parts by 1,173.5% in 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 during the period. Rhumbline Advisers grew its position in shares of Advance Auto Parts by 28.9% during the 3rd quarter. Rhumbline Advisers now owns 164,334 shares of the company’s stock worth $9,191,000 after purchasing an additional 36,872 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Advance Auto Parts by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,531,146 shares of the company’s stock worth $85,637,000 after purchasing an additional 107,540 shares during the period. 88.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Carla Jean Bailo purchased 310 shares of Advance Auto Parts 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 owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Herman L. Word, Jr. sold 1,858 shares of Advance Auto Parts stock in a transaction 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 completion of the transaction, the executive vice president now owns 10,448 shares of the company’s stock, valued at $899,363.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carla Jean Bailo purchased 310 shares of the firm’s 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 acquisition, the director now owns 5,789 shares in the company, valued at approximately $470,008.91. The disclosure for this purchase can be found here. 0.35% of the stock is owned by corporate insiders.

Advance Auto Parts Trading Up 0.3 %

Shares of AAP stock opened at $74.75 on Thursday. Advance Auto Parts, Inc. has a twelve month low of $47.73 and a twelve month high of $127.31. The stock’s fifty day simple moving average is $77.62 and its 200 day simple moving average is $65.74. The company has a quick ratio of 0.29, a current ratio of 1.20 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $4.46 billion, a P/E ratio of 101.01, a P/E/G ratio of 1.39 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.83). The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.88 earnings per share. As a group, sell-side analysts predict that Advance Auto Parts, Inc. will post 3.94 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a $0.25 dividend. The ex-dividend date was Thursday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. Advance Auto Parts’s payout ratio is 135.14%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AAP. Evercore ISI reduced their price target on 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. Barclays increased their target price on Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Truist Financial raised their price target on Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada upped 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $64.56.

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.