Future Financial Wealth Managment LLC Invests $43,000 in Advance Auto Parts, Inc. (NYSE:AAP)

Future Financial Wealth Managment LLC acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 500 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its stake in Advance Auto Parts by 4.1% during the third quarter. CWA Asset Management Group LLC now owns 4,911 shares of the company’s stock worth $275,000 after purchasing an additional 195 shares during the last quarter. Quadrant Capital Group LLC grew its position in Advance Auto Parts by 8.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,711 shares of the company’s stock valued at $165,000 after acquiring an additional 206 shares during the last quarter. Diversified Trust Co raised its stake in shares of Advance Auto Parts by 2.9% during the fourth quarter. Diversified Trust Co now owns 7,462 shares of the company’s stock worth $455,000 after acquiring an additional 213 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Advance Auto Parts by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 26,336 shares of the company’s stock worth $1,607,000 after acquiring an additional 260 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after purchasing an additional 266 shares in the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AAP shares. JPMorgan Chase & Co. boosted their price target on shares of Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Wedbush restated a “neutral” rating and set a $70.00 price target on shares of Advance Auto Parts in a research report on Friday, May 24th. Barclays increased their price objective on Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. StockNews.com upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Finally, Evercore ISI raised their price target on shares of Advance Auto Parts from $72.00 to $73.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.00.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock opened at $62.70 on Friday. Advance Auto Parts, Inc. has a 12 month low of $47.73 and a 12 month high of $88.56. The firm has a market capitalization of $3.74 billion, a P/E ratio of 90.87, a P/E/G ratio of 1.22 and a beta of 1.20. The business has a fifty day simple moving average of $69.97 and a two-hundred day simple moving average of $69.27. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 0.70.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Wednesday, May 29th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Advance Auto Parts had a return on equity of 1.59% and a net margin of 0.37%. The company’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. On average, equities analysts forecast that Advance Auto Parts, Inc. will post 3.72 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.59%. Advance Auto Parts’s dividend payout ratio is presently 144.93%.

Advance Auto Parts 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.