Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,547 shares of the company’s stock after selling 278 shares during the quarter. Advisors Asset Management Inc.’s holdings in Advance Auto Parts were worth $177,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Dorsal Capital Management LP raised its stake in Advance Auto Parts by 159.7% during the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock valued at $79,162,000 after buying an additional 768,664 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Advance Auto Parts by 76.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock valued at $80,197,000 after acquiring an additional 547,696 shares in the last quarter. International Assets Investment Management LLC bought a new position in Advance Auto Parts during the third quarter worth $17,477,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Advance Auto Parts in the third quarter worth $14,684,000. Finally, Royce & Associates LP increased its stake in Advance Auto Parts by 31.7% during the third quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock valued at $41,937,000 after purchasing an additional 258,656 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Mizuho reissued a “neutral” rating and issued a $38.00 target price (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Wells Fargo & Company lowered their target price on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Roth Capital raised Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. Finally, Evercore ISI upped their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $48.64.

Advance Auto Parts Price Performance

Shares of AAP opened at $41.35 on Friday. Advance Auto Parts, Inc. has a one year low of $35.59 and a one year high of $88.56. The stock’s fifty day moving average is $39.20 and its 200-day moving average is $52.30. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 56.59 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.82) EPS. Equities analysts anticipate that Advance Auto Parts, Inc. will post -0.51 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.42%. Advance Auto Parts’s dividend payout ratio (DPR) is 136.99%.

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.