Mackenzie Financial Corp Boosts Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Mackenzie Financial Corp lifted its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 22.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,406 shares of the company’s stock after acquiring an additional 1,177 shares during the period. Mackenzie Financial Corp’s holdings in Advance Auto Parts were worth $1,338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Advance Auto Parts in the 2nd quarter valued at $34,000. Arkadios Wealth Advisors boosted its position in shares of Advance Auto Parts by 479.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 168 shares of the company’s stock worth $35,000 after purchasing an additional 139 shares in the last quarter. Berman Capital Advisors LLC boosted its position in shares of Advance Auto Parts by 42.4% during the 3rd quarter. Berman Capital Advisors LLC now owns 198 shares of the company’s stock worth $41,000 after purchasing an additional 59 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Advance Auto Parts by 115.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 369 shares of the company’s stock worth $77,000 after purchasing an additional 198 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its position in shares of Advance Auto Parts by 9,380.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 474 shares of the company’s stock worth $99,000 after purchasing an additional 469 shares in the last quarter. Institutional investors and hedge funds own 98.10% of the company’s stock.

NYSE:AAP opened at $239.60 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.24 and a debt-to-equity ratio of 0.32. Advance Auto Parts, Inc. has a 1-year low of $143.15 and a 1-year high of $244.55. The firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The stock has a fifty day simple moving average of $234.09 and a 200 day simple moving average of $219.55.

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

The business also recently declared a quarterly dividend, which was paid on Monday, January 3rd. Investors of record on Friday, December 17th were given 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 dividend payout ratio (DPR) is 40.49%.

A number of research analysts have recently commented on the stock. Jefferies Financial Group upped 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 note on Wednesday, November 17th. Truist assumed coverage on Advance Auto Parts in a report on Thursday. They set a “buy” rating and a $273.00 target price for the company. Raymond James boosted their target price on Advance Auto Parts from $265.00 to $275.00 and gave the stock a “strong-buy” rating in a report on Wednesday, November 17th. Credit Suisse Group boosted their target price on Advance Auto Parts from $250.00 to $255.00 and gave the stock an “outperform” rating in a report on Tuesday, November 16th. Finally, Truist Securities assumed coverage on Advance Auto Parts in a report on Thursday. They issued a “buy” rating and a $273.00 price target for the company. Six 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’s stock. According to data from MarketBeat, Advance Auto Parts has an average rating of “Buy” and an average target price of $247.48.

Advance Auto Parts Company 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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