Knights of Columbus Asset Advisors LLC Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Knights of Columbus Asset Advisors LLC acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 930 shares of the company’s stock, valued at approximately $194,000.

A number of other hedge funds also recently made changes to their positions in the business. Valley National Advisers Inc. grew its holdings in Advance Auto Parts by 58.9% during the 3rd quarter. Valley National Advisers Inc. now owns 2,234 shares of the company’s stock worth $467,000 after acquiring an additional 828 shares in the last quarter. KBC Group NV boosted its holdings in shares of Advance Auto Parts by 466.3% in the 3rd quarter. KBC Group NV now owns 35,309 shares of the company’s stock valued at $7,376,000 after buying an additional 29,074 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Advance Auto Parts by 24.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 43,044 shares of the company’s stock valued at $8,994,000 after buying an additional 8,591 shares during the period. Creative Planning boosted its holdings in shares of Advance Auto Parts by 5.8% in the 3rd quarter. Creative Planning now owns 1,589 shares of the company’s stock valued at $332,000 after buying an additional 87 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Advance Auto Parts by 2,968.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,063 shares of the company’s stock valued at $1,058,000 after buying an additional 4,898 shares during the period. 98.10% of the stock is owned by institutional investors.

Several research analysts have recently commented on the stock. Truist Financial assumed coverage on shares of Advance Auto Parts in a report on Thursday. They issued a “buy” rating and a $273.00 price target for the company. DA Davidson lifted their price objective on shares of Advance Auto Parts from $250.00 to $260.00 in a research report on Thursday, December 30th. Jefferies Financial Group lifted their price objective on shares of Advance Auto Parts from $240.00 to $268.00 and gave the company a “buy” rating in a research report on Wednesday, November 17th. Morgan Stanley lifted their price objective on shares of Advance Auto Parts from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 17th. Finally, Raymond James lifted their price objective on shares of Advance Auto Parts from $265.00 to $275.00 and gave the company a “strong-buy” rating in a research report on Wednesday, November 17th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $247.48.

NYSE AAP opened at $239.60 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.24 and a quick ratio of 0.35. The company’s 50 day simple moving average is $234.09 and its 200 day simple moving average is $219.55. Advance Auto Parts, Inc. has a 12 month low of $143.15 and a 12 month high of $244.55. The company has a market capitalization of $14.94 billion, a P/E ratio of 24.25, a PEG ratio of 1.18 and a beta of 1.27.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Monday, November 15th. The company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.34. Advance Auto Parts had a net margin of 5.89% and a return on equity of 22.79%. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm earned $2.81 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts anticipate that Advance Auto Parts, Inc. will post 11.87 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Investors of record on Friday, December 17th were issued a $1.00 dividend. The ex-dividend date was Thursday, December 16th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.67%. Advance Auto Parts’s payout ratio is currently 40.49%.

Advance Auto Parts Profile

Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.

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

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