CenterBook Partners LP Has $1.15 Million Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

CenterBook Partners LP lessened its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 40.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,399 shares of the company's stock after selling 20,267 shares during the period. CenterBook Partners LP's holdings in Advance Auto Parts were worth $1,153,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Eminence Capital LP bought a new stake in shares of Advance Auto Parts in the 4th quarter worth approximately $87,214,000. Price T Rowe Associates Inc. MD lifted its position in shares of Advance Auto Parts by 34.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock valued at $316,160,000 after acquiring an additional 1,706,328 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new stake in shares of Advance Auto Parts in the 4th quarter valued at approximately $75,055,000. Marshall Wace LLP lifted its position in shares of Advance Auto Parts by 2,585.1% in the 4th quarter. Marshall Wace LLP now owns 1,353,912 shares of the company's stock valued at $64,026,000 after acquiring an additional 1,303,488 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Advance Auto Parts by 2,662.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock valued at $61,156,000 after acquiring an additional 1,246,384 shares in the last quarter. Institutional investors own 88.75% of the company's stock.

Advance Auto Parts Price Performance

AAP traded up $0.07 during midday trading on Friday, hitting $61.15. The company had a trading volume of 1,448,321 shares, compared to its average volume of 2,619,548. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The company has a market capitalization of $3.66 billion, a PE ratio of -10.42 and a beta of 1.04. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $64.84. The firm's 50-day simple moving average is $48.55 and its 200-day simple moving average is $42.94.

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 for the quarter, beating the consensus estimate of ($0.81) by $0.59. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The firm had revenue of $2.58 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter last year, the company posted $0.67 EPS. The company's quarterly revenue was down 24.2% compared to the same quarter last year. Equities research analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Friday, July 11th. Advance Auto Parts's dividend payout ratio is -17.04%.

Insider Activity at Advance Auto Parts

In other news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $48.52, for a total transaction of $45,996.96. Following the completion of the sale, the senior vice president owned 9,876 shares in the company, valued at $479,183.52. The trade was a 8.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on AAP. Bank of America upped their price target on shares of Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a research report on Friday, May 23rd. Mizuho upped their price objective on shares of Advance Auto Parts from $38.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. DA Davidson upped their price objective on shares of Advance Auto Parts from $45.00 to $47.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Redburn Partners upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective on the stock in a research note on Tuesday, June 3rd. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $50.00 price objective (up previously from $40.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $46.53.

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.