Rhumbline Advisers Has $5.48 Million Position in Advance Auto Parts, Inc. (NYSE:AAP)

Rhumbline Advisers lowered its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 4.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 139,677 shares of the company’s stock after selling 7,071 shares during the quarter. Rhumbline Advisers’ holdings in Advance Auto Parts were worth $5,477,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AAP. Allworth Financial LP grew its position in Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after buying an additional 818 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in Advance Auto Parts during the fourth quarter worth approximately $42,000. Advisory Services Network LLC acquired a new stake in Advance Auto Parts during the fourth quarter worth approximately $46,000. Blue Trust Inc. lifted its stake in Advance Auto Parts by 38.9% during the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company’s stock worth $79,000 after purchasing an additional 469 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its stake in Advance Auto Parts by 10.0% during the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company’s stock worth $129,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group restated a “neutral” rating and set a $50.00 target price (up from $36.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. DA Davidson increased their price target on Advance Auto Parts from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, May 23rd. Bank of America increased their price target on Advance Auto Parts from $33.00 to $39.00 and gave the company an “underperform” rating in a research note on Friday, May 23rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $48.00 price target (up from $43.00) on shares of Advance Auto Parts in a research note on Thursday, May 22nd. Finally, Evercore ISI increased their price target on Advance Auto Parts from $35.00 to $45.00 and gave the company an “in-line” rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.01.

Advance Auto Parts Stock Down 1.7%

Shares of AAP opened at $50.66 on Friday. The company’s 50-day simple moving average is $38.35 and its 200-day simple moving average is $41.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $67.03. The stock has a market capitalization of $3.04 billion, a PE ratio of 69.40, a P/E/G ratio of 1.98 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.59. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 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 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, July 11th. Advance Auto Parts’s dividend payout ratio is currently -17.04%.

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.