Advance Auto Parts, Inc. (NYSE:AAP) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in Advance Auto Parts, Inc. (NYSE:AAP) by 1,258.8% during the first quarter, HoldingsChannel.com reports. The fund owned 2,310 shares of the company’s stock after acquiring an additional 2,140 shares during the period. Exchange Traded Concepts LLC’s holdings in Advance Auto Parts were worth $91,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of Advance Auto Parts by 1,543.4% in the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after acquiring an additional 818 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in shares of Advance Auto Parts in the fourth quarter worth approximately $42,000. Advisory Services Network LLC acquired a new stake in shares of Advance Auto Parts in the fourth quarter worth approximately $46,000. Financial Management Professionals Inc. acquired a new stake in shares of Advance Auto Parts in the first quarter worth approximately $49,000. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Advance Auto Parts by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company’s stock worth $129,000 after acquiring an additional 300 shares during the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock opened at $48.29 on Wednesday. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $65.19. The business’s fifty day simple moving average is $41.04 and its 200-day simple moving average is $41.74. The firm has a market cap of $2.89 billion, a PE ratio of -8.23 and a beta of 1.06. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.59. Advance Auto Parts had a negative return on equity of 1.76% and a negative net margin of 3.74%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the company posted $0.67 EPS. The company’s quarterly revenue was down 24.2% on a year-over-year basis. Equities analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts’s payout ratio is -17.04%.

Insider Buying and Selling

In related news, SVP Jason Hand sold 948 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $48.52, for a total transaction of $45,996.96. Following the transaction, the senior vice president now owns 9,876 shares of the company’s stock, valued at approximately $479,183.52. This represents a 8.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AAP shares. Royal Bank Of Canada lowered their price target on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Wall Street Zen upgraded Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Saturday. BMO Capital Markets restated a “market perform” rating and issued a $50.00 target price (up from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. Raymond James Financial upped their target price on Advance Auto Parts to $49.17 and gave the company a “hold” rating in a report on Monday, May 26th. Finally, Morgan Stanley upped their target price on Advance Auto Parts from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and a consensus price target of $46.25.

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.