Federated Hermes Inc. Increases Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Federated Hermes Inc. boosted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 2,716,800.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 842,239 shares of the company’s stock after purchasing an additional 842,208 shares during the period. Federated Hermes Inc. owned about 1.42% of Advance Auto Parts worth $51,402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after buying an additional 83 shares during the period. Clear Street Markets LLC lifted its position in shares of Advance Auto Parts by 245.9% during the first quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its stake in shares of Advance Auto Parts by 469.4% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 353 shares of the company’s stock valued at $52,000 after purchasing an additional 291 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Advance Auto Parts in the second quarter worth about $28,000. Finally, Allworth Financial LP boosted its position in Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after buying an additional 266 shares during the period. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Up 1.9 %

Shares of AAP stock opened at $78.69 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20. Advance Auto Parts, Inc. has a fifty-two week low of $47.73 and a fifty-two week high of $129.90. The firm has a market capitalization of $4.69 billion, a PE ratio of 106.34, a P/E/G ratio of 1.34 and a beta of 1.17. The stock’s 50-day simple moving average is $74.57 and its 200-day simple moving average is $63.57.

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

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. Advance Auto Parts’s payout ratio is currently 135.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAP. Mizuho initiated coverage on Advance Auto Parts in a research report on Tuesday, March 19th. They set a “neutral” rating and a $78.00 target price for the company. Evercore ISI lowered their price objective on shares of Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating for the company in a research note on Tuesday. TheStreet upgraded shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Barclays boosted their price target on shares of Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada increased their price objective on shares of Advance Auto Parts from $47.00 to $68.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $64.56.

Insider Buying and Selling at Advance Auto Parts

In other news, EVP Herman L. Word, Jr. sold 1,858 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total value of $159,936.64. Following the sale, the executive vice president now owns 10,448 shares in the company, valued at $899,363.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Brent Windom acquired 4,700 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was acquired at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $853,400. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total value of $159,936.64. Following the completion of the transaction, the executive vice president now directly owns 10,448 shares of the company’s stock, valued at approximately $899,363.84. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

About Advance Auto Parts

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.