Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC cut its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 16.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,502 shares of the company’s stock after selling 2,275 shares during the quarter. Private Advisor Group LLC’s holdings in Advance Auto Parts were worth $728,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BW Gestao de Investimentos Ltda. purchased a new position in shares of Advance Auto Parts during the second quarter worth about $7,916,000. UBS Group AG lifted its position in Advance Auto Parts by 337.7% during the 4th quarter. UBS Group AG now owns 811,734 shares of the company’s stock worth $49,540,000 after acquiring an additional 626,294 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Advance Auto Parts by 8.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,711 shares of the company’s stock valued at $165,000 after purchasing an additional 206 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Advance Auto Parts by 24.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 77,031 shares of the company’s stock valued at $6,555,000 after purchasing an additional 15,093 shares during the period. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Advance Auto Parts during the first quarter worth approximately $207,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $41.33 on Wednesday. The firm has a market capitalization of $2.46 billion, a PE ratio of 59.90, a P/E/G ratio of 1.26 and a beta of 1.17. Advance Auto Parts, Inc. has a 52 week low of $37.51 and a 52 week high of $88.56. The firm’s 50-day simple moving average is $54.63 and its 200 day simple moving average is $66.26. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the company earned $1.43 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities research analysts predict that Advance Auto Parts, Inc. will post 2.19 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s payout ratio is 144.93%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AAP shares. Wedbush reiterated a “neutral” rating and issued a $55.00 price objective (down from $65.00) on shares of Advance Auto Parts in a research report on Friday, August 23rd. Wells Fargo & Company lowered their target price on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Bank of America raised their price objective on shares of Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a research report on Thursday, May 30th. Mizuho reiterated a “neutral” rating and set a $38.00 target price (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. Finally, UBS Group lifted their price target on Advance Auto Parts from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat, Advance Auto Parts currently has a consensus rating of “Hold” and a consensus target price of $56.54.

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.