Pursue Wealth Partners LLC Purchases 38,125 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Pursue Wealth Partners LLC boosted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 105.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,194 shares of the company's stock after acquiring an additional 38,125 shares during the period. Advance Auto Parts makes up approximately 1.8% of Pursue Wealth Partners LLC's holdings, making the stock its 18th largest holding. Pursue Wealth Partners LLC owned approximately 0.12% of Advance Auto Parts worth $2,909,000 at the end of the most recent reporting period.

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

Advance Auto Parts Trading Down 0.9%

NYSE:AAP traded down $0.42 during trading hours on Thursday, hitting $46.26. 2,570,765 shares of the stock were exchanged, compared to its average volume of 2,514,629. The company's 50 day moving average is $41.64 and its two-hundred day moving average is $41.77. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $64.92. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $2.77 billion, a P/E ratio of -7.88 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the business earned $0.67 EPS. The business's revenue for the quarter was down 24.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders 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 dividend yield of 2.16%. The ex-dividend date is Friday, July 11th. Advance Auto Parts's dividend payout ratio (DPR) is currently -17.04%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore ISI lifted their price objective on Advance Auto Parts from $50.00 to $52.00 and gave the company an "in-line" rating in a report on Tuesday. Royal Bank Of Canada decreased their price objective on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Morgan Stanley increased their price target on Advance Auto Parts from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Wells Fargo & Company set a $35.00 price target on Advance Auto Parts and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Finally, Truist Financial decreased their price target on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Advance Auto Parts currently has an average rating of "Hold" and a consensus target price of $46.25.

Insider Activity

In other news, SVP Jason Hand sold 948 shares of the 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 transaction, the senior vice president now owns 9,876 shares of the company's stock, valued at $479,183.52. This represents a 8.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Advance Auto Parts 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.