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Jul 25, 2023

Versor Investments LP Has $1.01 Million Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Versor Investments LP trimmed its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 41.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,294 shares of the company's stock after selling 5,969 shares during the period. Versor Investments LP's holdings in Advance Auto Parts were worth $1,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd increased its position in Advance Auto Parts by 113.7% in the 1st quarter. Covestor Ltd now owns 156 shares of the company's stock valued at $32,000 after buying an additional 83 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Advance Auto Parts in the first quarter valued at approximately $29,000. Machina Capital S.A.S. bought a new position in shares of Advance Auto Parts in the first quarter valued at approximately $32,000. Scissortail Wealth Management LLC bought a new position in shares of Advance Auto Parts in the first quarter valued at approximately $5,410,371,000. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Advance Auto Parts by 9,933.3% in the first quarter. Hexagon Capital Partners LLC now owns 301 shares of the company's stock valued at $37,000 after acquiring an additional 298 shares in the last quarter. 91.32% of the stock is owned by institutional investors.

In other news, Director Douglas A. Pertz acquired 4,575 shares of the business's stock in a transaction on Monday, June 12th. The shares were acquired at an average cost of $66.02 per share, with a total value of $302,041.50. Following the transaction, the director now owns 12,831 shares in the company, valued at approximately $847,102.62. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Douglas A. Pertz purchased 4,575 shares of the company's stock in a transaction dated Monday, June 12th. The shares were purchased at an average cost of $66.02 per share, with a total value of $302,041.50. Following the transaction, the director now directly owns 12,831 shares in the company, valued at approximately $847,102.62. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Carla Jean Bailo purchased 500 shares of the company's stock in a transaction dated Wednesday, June 7th. The stock was bought at an average cost of $65.90 per share, for a total transaction of $32,950.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at $32,950. The disclosure for this purchase can be found here. In the last three months, insiders have bought 5,463 shares of company stock valued at $359,924. 0.63% of the stock is currently owned by corporate insiders.

Several equities analysts have weighed in on AAP shares. UBS Group reduced their price objective on Advance Auto Parts from $132.00 to $75.00 in a report on Thursday, June 1st. Atlantic Securities lowered Advance Auto Parts from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $130.00 to $50.00 in a report on Monday, July 10th. JPMorgan Chase & Co. lowered Advance Auto Parts from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $165.00 to $84.00 in a report on Thursday, June 1st. Evercore ISI cut their price target on Advance Auto Parts from $145.00 to $80.00 in a report on Thursday, June 1st. Finally, Wedbush cut their price target on Advance Auto Parts from $115.00 to $80.00 in a report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $96.26.

Read Our Latest Analysis on AAP

NYSE AAP opened at $70.89 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.24 and a quick ratio of 0.24. The stock has a market capitalization of $4.21 billion, a PE ratio of 10.70, a PEG ratio of 1.02 and a beta of 1.08. Advance Auto Parts, Inc. has a 1 year low of $63.56 and a 1 year high of $212.25. The business's 50-day moving average is $72.11 and its 200 day moving average is $111.07.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results on Wednesday, May 31st. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($1.88). The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.43 billion. Advance Auto Parts had a return on equity of 22.67% and a net margin of 3.61%. During the same period in the previous year, the business earned $3.57 earnings per share. Sell-side analysts forecast that Advance Auto Parts, Inc. will post 5.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.00 annualized dividend and a yield of 1.41%. Advance Auto Parts's payout ratio is 14.86%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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