Advance Auto Parts, Inc. (NYSE:AAP) Declares Quarterly Dividend of $0.25

Advance Auto Parts, Inc. (NYSE:AAP) has announced its quarterly dividend, which was declared on Thursday, February 27th. Shareholders who are registered on Friday, April 11th will receive a dividend of $0.25 per share on Friday, April 25th. This dividend translates to an annualized rate of $1.00, offering a yield of 2.71%. The ex-dividend date for this payout is also set for Friday, April 11th.

It is noteworthy that Advance Auto Parts has experienced a decrease in its dividend by an average of 32.5% annually over the past three years. Currently, the company operates with a dividend payout ratio of 34.0%, indicating that its dividends are well-supported by its earnings. Analysts predict that the company will earn $1.57 per share in the next fiscal year. This expectation suggests that Advance Auto Parts should be able to maintain its $1.00 annual dividend, even with a prospective future payout ratio of 63.7%.

Performance of Advance Auto Parts Stock

On Thursday, during mid-day trading, shares of NYSE:AAP fell by $0.75, bringing the price down to $36.96. The trading volume for the company reached 4,856,221 shares, exceeding the average volume of 2,096,786 shares. Market capitalization for Advance Auto Parts stands at $2.21 billion, with a price-to-earnings (P/E) ratio of 50.62, a P/E/G ratio of 1.98, and a beta value of 1.15. The stock has experienced a one-year low of $35.59 and a one-year high of $88.56. Additionally, the 50-day moving average price is $46.11, while its 200-day moving average price is $43.93. An analysis of the company's liquidity shows a current ratio of 1.34, a quick ratio of 0.62, and a debt-to-equity ratio of 0.69.

Brokerage Opinions on Advance Auto Parts

Several brokers have recently analyzed AAP, resulting in a variety of price targets. The Goldman Sachs Group lowered their price target on Advance Auto Parts from $60.00 to $43.00 and established a "neutral" rating for the stock in their report on November 15th. Meanwhile, Wells Fargo & Company raised their price objective from $40.00 to $45.00, assigning an "equal weight" rating in their January 6th report. Evercore ISI also increased their target from $45.00 to $60.00 with a "hold" rating. In contrast, Wedbush reaffirmed an "outperform" rating and set a price objective of $55.00, while Truist Financial reduced their price target from $39.00 to $34.00, labeling the stock as a "hold." Out of the analysts, one gave a sell rating, sixteen assigned a hold rating, and one issued a buy rating. According to MarketBeat.com, the average analyst rating for Advance Auto Parts is "Hold" with a consensus price target of $46.69.

Latest Developments on AAP

Insider Transactions at Advance Auto Parts

In the recent developments regarding insider trading, EVP Tammy M. Finley sold 1,276 shares of the stock on December 5th, generating a total of $56,220.56 from the transaction at an average price of $44.06. Following this sale, Finley now owns 24,266 shares, valuing approximately $1,069,159.96, representing a 5% decrease in her holdings. This transaction was filed in a document submitted to the SEC. Currently, insiders hold 0.35% of the total shares of the company.

Company Overview

Advance Auto Parts, Inc. specializes in automotive replacement parts, accessories, batteries, and maintenance items for a range of vehicles, including domestic and imported cars, vans, SUVs, and trucks. Their product line includes battery accessories, belts, hoses, brakes, climate control parts, clutches, engine parts, exhaust systems, ignition components, radiators, starters, and steering parts.

Additional Resources

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