Envestnet Asset Management Inc. Sells 30,193 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Envestnet Asset Management Inc. reduced its stake in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 20.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,413 shares of the company’s stock after selling 30,193 shares during the period. Envestnet Asset Management Inc.’s holdings in Advance Auto Parts were worth $16,822,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAP. Balyasny Asset Management LLC increased its stake in Advance Auto Parts by 4,881.8% in the third quarter. Balyasny Asset Management LLC now owns 477,160 shares of the company’s stock valued at $74,600,000 after purchasing an additional 467,582 shares in the last quarter. Vanguard Group Inc. increased its stake in Advance Auto Parts by 4.0% in the third quarter. Vanguard Group Inc. now owns 7,291,395 shares of the company’s stock valued at $1,139,936,000 after purchasing an additional 277,906 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Advance Auto Parts by 202.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 390,826 shares of the company’s stock valued at $80,885,000 after purchasing an additional 261,608 shares in the last quarter. Victory Capital Management Inc. increased its stake in Advance Auto Parts by 367.4% in the third quarter. Victory Capital Management Inc. now owns 190,905 shares of the company’s stock valued at $29,846,000 after purchasing an additional 150,058 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in Advance Auto Parts by 3.6% in the first quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock valued at $685,801,000 after purchasing an additional 114,789 shares in the last quarter. 96.04% of the stock is owned by institutional investors.

Advance Auto Parts Stock Up 1.6 %

AAP opened at $125.75 on Tuesday. The company has a quick ratio of 0.21, a current ratio of 1.13 and a debt-to-equity ratio of 0.44. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.02 and a beta of 1.10. Advance Auto Parts, Inc. has a twelve month low of $109.05 and a twelve month high of $217.35. The company’s 50-day moving average price is $124.26 and its two-hundred day moving average price is $144.27.

Advance Auto Parts (NYSE:AAP – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.47. Advance Auto Parts had a net margin of 4.50% and a return on equity of 28.53%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the company earned $2.07 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities analysts expect that Advance Auto Parts, Inc. will post 10.63 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, April 14th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Thursday, April 13th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 72.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AAP. Roth Mkm cut shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $180.00 to $140.00 in a report on Monday, February 13th. Barclays upgraded shares of Advance Auto Parts from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $140.00 to $129.00 in a report on Friday, March 31st. Wedbush upgraded shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating in a report on Friday, January 13th. Raymond James reduced their price objective on shares of Advance Auto Parts from $180.00 to $160.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 19th. Finally, Argus cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Thirteen investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $164.06.

Advance Auto Parts Company Profile

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Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.