13. CLIMATE ACTION

Nordea Investment Management AB Lowers Position in Advance Auto Parts, Inc. (NYSE:AAP) – Defense World

Written by Amanda

Nordea Investment Management AB decreased its position in shares of Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 3.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,346 shares of the company’s stock after selling 146 shares during the period. Nordea Investment Management AB’s holdings in Advance Auto Parts were worth $909,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Advance Auto Parts by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 525,040 shares of the company’s stock valued at $109,676,000 after purchasing an additional 4,942 shares in the last quarter. OPSEU Pension Plan Trust Fund lifted its position in Advance Auto Parts by 23.2% during the fourth quarter. OPSEU Pension Plan Trust Fund now owns 5,253 shares of the company’s stock valued at $1,254,000 after buying an additional 990 shares during the period. Donald L. Hagan LLC bought a new stake in shares of Advance Auto Parts during the 4th quarter valued at $802,000. CWM LLC purchased a new stake in shares of Advance Auto Parts in the 4th quarter worth about $3,736,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Advance Auto Parts in the 4th quarter worth about $1,260,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts stock opened at $178.75 on Wednesday. Advance Auto Parts, Inc. has a one year low of $164.00 and a one year high of $244.55. The stock has a fifty day moving average of $193.90 and a 200 day moving average of $212.24. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.25 and a current ratio of 1.20. The stock has a market cap of $10.84 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 1.06 and a beta of 1.23.

Advance Auto Parts (NYSE:AAPGet Rating) last released its quarterly earnings results on Monday, May 23rd. The company reported $3.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.02). Advance Auto Parts had a net margin of 5.16% and a return on equity of 24.74%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the firm earned $3.34 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Advance Auto Parts, Inc. will post 13.68 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 17th will be given a $1.50 dividend. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $6.00 annualized dividend and a yield of 3.36%. Advance Auto Parts’s payout ratio is presently 66.82%.

A number of brokerages have weighed in on AAP. Guggenheim cut their price objective on shares of Advance Auto Parts from $266.00 to $259.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. MKM Partners began coverage on Advance Auto Parts in a research report on Thursday, June 23rd. They set a “buy” rating and a $195.00 price objective for the company. StockNews.com downgraded Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Truist Financial cut their target price on Advance Auto Parts from $276.00 to $238.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Finally, Citigroup lowered their price target on Advance Auto Parts from $294.00 to $250.00 in a research report on Friday, May 13th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts currently has an average rating of “Moderate Buy” and a consensus target price of $242.17.

Advance Auto Parts Company Profile (Get Rating)

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.

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Source: defenseworld.net

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai