Seth Basham

According to a stock filing, financial analyst Seth Basham from Wedbush has recommended holding onto three consumer stocks with over 5% dividend yields. The analyst has provided a price target of $145 for one of the stocks, AAP, indicating a potential upside of approximately 20% from the current stock price of $120.425. This information was published on March 21, 2023.

Advance Auto Parts Inc

Consumer Stocks with Over 5% Dividend Yields Recommended as Holds by Wall Street's Most Accurate Analysts

XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE

Form 8-K - Current report - Item 1.01 Item 2.03 Item 9.01

Announcement: AAP 8-K Special Filing

Form 8-K - Current report - Item 1.01 Item 9.01

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Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405]

Announcement: AAP 10-K Annual Report

Form 8-K - Current report - Item 2.02 Item 9.01

Analyst Summary:

Advance Auto Parts has reported mixed results for Q4 2022 and FY2022. The company reported a net sales increase of 3.2% in Q4, driven by strategic pricing and new store openings, and a full-year net sales increase of 1.1%. However, comparable store sales for the year increased by only 0.1%. Despite this, the company's adjusted operating income margin increased by 146 basis points in Q4 and 24 basis points for the full year. The CEO has stated that the company is taking decisive actions to improve its performance in 2023, with a focus on improving inventory availability and leveraging its differentiated asset base. The company has also announced a quarterly dividend of $1.50 per share to be paid on April 28th, 2023. However, the CEO has indicated that there will be no guidance given on non-GAAP metrics in 2023, with the company transitioning to GAAP as its reporting method. Overall, the company's results show some challenges but also signs of improvement going forward.

Form 8-K - Current report - Item 5.02 Item 7.01 Item 9.01