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

Advance Auto Parts, Inc. (NYSE:AAP) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Friday, April 11th will be given a dividend of 0.25 per share on Friday, April 25th. This represents a $1.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, April 11th.

Advance Auto Parts has decreased its dividend by an average of 32.5% annually over the last three years. Advance Auto Parts has a dividend payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Advance Auto Parts to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 63.7%.

Advance Auto Parts Stock Performance

Shares of NYSE AAP traded down $0.75 during mid-day trading on Thursday, hitting $36.96. The company had a trading volume of 4,856,221 shares, compared to its average volume of 2,096,786. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 50.62, a P/E/G ratio of 1.98 and a beta of 1.15. Advance Auto Parts has a 1 year low of $35.59 and a 1 year high of $88.56. The stock’s 50-day moving average price is $46.11 and its 200-day moving average price is $43.93. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AAP. The Goldman Sachs Group reduced their price target on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Wells Fargo & Company upped their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Evercore ISI increased their price target on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Wedbush restated an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday, November 15th. Finally, Truist Financial cut their price objective on Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and a consensus price target of $46.69.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the sale, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.35% of the company’s stock.

Advance Auto Parts Company Profile

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.