Everence Capital Management Inc. Buys 1,830 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Everence Capital Management Inc. grew its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 29.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,030 shares of the company’s stock after acquiring an additional 1,830 shares during the period. Everence Capital Management Inc.’s holdings in Advance Auto Parts were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Caxton Associates LP acquired a new position in shares of Advance Auto Parts in the third quarter valued at about $1,223,000. Kepos Capital LP acquired a new position in shares of Advance Auto Parts in the third quarter valued at about $3,356,000. Public Sector Pension Investment Board grew its stake in shares of Advance Auto Parts by 1,173.5% in the third quarter. Public Sector Pension Investment Board now owns 73,471 shares of the company’s stock valued at $4,109,000 after acquiring an additional 67,702 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Advance Auto Parts by 28.9% in the third quarter. Rhumbline Advisers now owns 164,334 shares of the company’s stock valued at $9,191,000 after acquiring an additional 36,872 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Advance Auto Parts by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,531,146 shares of the company’s stock valued at $85,637,000 after acquiring an additional 107,540 shares in the last quarter. 88.75% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Brent Windom purchased 4,700 shares of the stock in a transaction on Wednesday, March 27th. The stock was purchased at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $853,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Carla Jean Bailo acquired 310 shares of Advance Auto Parts stock in a transaction dated Monday, March 18th. The stock was bought at an average price of $81.19 per share, with a total value of $25,168.90. Following the transaction, the director now directly owns 5,789 shares in the company, valued at approximately $470,008.91. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brent Windom acquired 4,700 shares of Advance Auto Parts stock in a transaction dated Wednesday, March 27th. The shares were bought at an average cost of $85.34 per share, with a total value of $401,098.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $853,400. The disclosure for this purchase can be found here. Company insiders own 0.63% of the company’s stock.

Advance Auto Parts Stock Up 3.4 %

Shares of NYSE AAP opened at $74.05 on Thursday. The company has a 50 day simple moving average of $74.00 and a 200 day simple moving average of $63.30. The firm has a market cap of $4.41 billion, a PE ratio of 100.07, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. Advance Auto Parts, Inc. has a 1 year low of $47.73 and a 1 year high of $129.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.29.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the business posted $2.88 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts forecast that Advance Auto Parts, Inc. will post 3.94 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.00 annualized dividend and a yield of 1.35%. Advance Auto Parts’s payout ratio is 135.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased 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 note on Thursday, February 29th. Barclays increased their price objective on shares of Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. increased their price objective on shares of Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Mizuho assumed coverage on shares of Advance Auto Parts in a research note on Tuesday, March 19th. They set a “neutral” rating and a $78.00 price objective on the stock. Finally, Truist Financial increased their price objective on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Advance Auto Parts currently has a consensus rating of “Hold” and an average target price of $70.18.

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.