Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in Advance Auto Parts, Inc. (NYSE:AAP) by 86.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,473 shares of the company’s stock after selling 34,527 shares during the quarter. SG Americas Securities LLC’s holdings in Advance Auto Parts were worth $213,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its position in shares of Advance Auto Parts by 267.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after acquiring an additional 257 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Advance Auto Parts in the 1st quarter worth approximately $34,000. Mather Group LLC. lifted its holdings in shares of Advance Auto Parts by 1,241.7% in the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after purchasing an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Advance Auto Parts in the 2nd quarter worth approximately $41,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Advance Auto Parts in the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AAP shares. JPMorgan Chase & Co. cut their target price on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Roth Mkm restated a “neutral” rating and issued a $40.00 target price on shares of Advance Auto Parts in a report on Wednesday, October 16th. Wedbush upgraded Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 target price on the stock in a report on Tuesday, October 15th. Mizuho restated a “neutral” rating and issued a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Finally, Wells Fargo & Company decreased their target price on 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. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.86.

Advance Auto Parts Price Performance

AAP opened at $38.75 on Wednesday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 56.16, a PEG ratio of 1.25 and a beta of 1.16. Advance Auto Parts, Inc. has a 1 year low of $36.40 and a 1 year high of $88.56. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average price of $43.65 and a 200 day moving average price of $58.82.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. Advance Auto Parts’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 EPS. Analysts forecast that Advance Auto Parts, Inc. will post 2.19 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

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 $0.25 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.58%. Advance Auto Parts’s dividend payout ratio is currently 144.93%.

About Advance Auto Parts

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.