Mitsubishi UFJ Trust & Banking Corp Acquires 17,634 Shares of Advance Auto Parts, Inc. $AAP

Mitsubishi UFJ Trust & Banking Corp grew its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 157.6% during the third quarter, HoldingsChannel reports. The firm owned 28,821 shares of the company’s stock after buying an additional 17,634 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Advance Auto Parts were worth $1,770,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AAP. Federated Hermes Inc. grew its stake in shares of Advance Auto Parts by 75.7% during the second quarter. Federated Hermes Inc. now owns 2,387,325 shares of the company’s stock worth $110,987,000 after buying an additional 1,028,561 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Advance Auto Parts by 48.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,416,636 shares of the company’s stock valued at $65,867,000 after acquiring an additional 461,761 shares in the last quarter. Parkwood LLC bought a new stake in Advance Auto Parts during the 2nd quarter worth $16,922,000. State Street Corp increased its holdings in Advance Auto Parts by 13.5% in the 2nd quarter. State Street Corp now owns 2,406,039 shares of the company’s stock worth $111,857,000 after purchasing an additional 286,148 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Advance Auto Parts by 327.7% in the first quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company’s stock valued at $14,230,000 after purchasing an additional 278,066 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AAP shares. DA Davidson set a $47.00 price objective on Advance Auto Parts in a research note on Monday, January 12th. Morgan Stanley cut their price target on shares of Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. UBS Group set a $40.00 price objective on Advance Auto Parts in a report on Thursday, October 30th. TD Cowen cut their target price on Advance Auto Parts from $62.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, January 20th. Finally, Truist Financial set a $48.00 price target on Advance Auto Parts in a research note on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.08.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $51.00, for a total transaction of $390,762.00. Following the transaction, the executive vice president directly owned 23,165 shares in the company, valued at approximately $1,181,415. This represents a 24.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.35% of the company’s stock.

Advance Auto Parts Stock Performance

Shares of AAP opened at $48.01 on Friday. The company has a current ratio of 1.73, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55. The firm’s fifty day simple moving average is $45.26 and its two-hundred day simple moving average is $52.83. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The stock has a market capitalization of $2.88 billion, a P/E ratio of -7.63 and a beta of 1.14.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.18. Advance Auto Parts had a positive return on equity of 0.64% and a negative net margin of 4.37%.The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the business earned ($0.04) EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. As a group, analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.