Pursue Wealth Partners LLC Has $2.91 Million Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Pursue Wealth Partners LLC raised its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 105.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,194 shares of the company's stock after buying an additional 38,125 shares during the quarter. Advance Auto Parts accounts for about 1.8% of Pursue Wealth Partners LLC's investment portfolio, making the stock its 18th largest position. Pursue Wealth Partners LLC owned about 0.12% of Advance Auto Parts worth $2,909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Praxis Investment Management Inc. acquired a new stake in Advance Auto Parts in the 1st quarter valued at approximately $263,000. Blue Trust Inc. grew its holdings in Advance Auto Parts by 69.8% in the 1st quarter. Blue Trust Inc. now owns 2,842 shares of the company's stock valued at $111,000 after buying an additional 1,168 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in Advance Auto Parts by 5.2% in the 1st quarter. Johnson Investment Counsel Inc. now owns 10,773 shares of the company's stock valued at $422,000 after buying an additional 528 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Advance Auto Parts by 455.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company's stock valued at $2,305,000 after buying an additional 48,198 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Advance Auto Parts by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock valued at $91,000 after buying an additional 2,140 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Raymond James Financial raised their price objective on Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research report on Monday, May 26th. DA Davidson raised their price objective on Advance Auto Parts from $45.00 to $47.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Evercore ISI raised their price objective on Advance Auto Parts from $45.00 to $50.00 and gave the stock an "in-line" rating in a research report on Tuesday, June 17th. Citigroup reduced their price objective on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Truist Financial reduced their price objective on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, twenty-one have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $46.25.

Insider Buying and Selling at Advance Auto Parts

In other news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction on Friday, June 20th. The stock was sold at an average price of $48.52, for a total value of $45,996.96. Following the completion of the sale, the senior vice president now directly owns 9,876 shares of the company's stock, valued at approximately $479,183.52. This trade represents a 8.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.67% of the company's stock.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock traded up $2.55 during midday trading on Monday, hitting $51.97. 2,279,220 shares of the company were exchanged, compared to its average volume of 2,484,439. The firm has a 50 day simple moving average of $40.72 and a 200-day simple moving average of $41.70. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $66.08. The firm has a market cap of $3.11 billion, a P/E ratio of -8.85 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share (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 firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company posted $0.67 EPS. The business's revenue for the quarter was down 24.2% compared to the same quarter last year. Research analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a $0.25 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.00 annualized dividend and a yield of 1.92%. Advance Auto Parts's payout ratio is -17.04%.

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.