Man Group plc Sells 50,049 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Man Group plc decreased its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 67.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,429 shares of the company's stock after selling 50,049 shares during the period. Man Group plc's holdings in Advance Auto Parts were worth $1,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP increased its stake in Advance Auto Parts by 1,543.4% in the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock worth $40,000 after purchasing an additional 818 shares during the period. Vision Financial Markets LLC purchased a new position in shares of Advance Auto Parts during the fourth quarter valued at $42,000. Advisory Services Network LLC purchased a new position in shares of Advance Auto Parts during the fourth quarter valued at $46,000. Blue Trust Inc. increased its stake in shares of Advance Auto Parts by 38.9% during the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock valued at $79,000 after buying an additional 469 shares during the period. Finally, KBC Group NV increased its stake in shares of Advance Auto Parts by 51.6% during the fourth quarter. KBC Group NV now owns 2,651 shares of the company's stock valued at $125,000 after buying an additional 902 shares during the period. Hedge funds and other institutional investors own 88.75% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wedbush reaffirmed an "outperform" rating and set a $55.00 price objective on shares of Advance Auto Parts in a research report on Monday, March 3rd. Evercore ISI lifted their target price 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. Raymond James increased their price target on Advance Auto Parts to $49.17 and gave the company a "hold" rating in a research note on Monday. Roth Capital raised their price target on Advance Auto Parts from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Wells Fargo & Company set a $35.00 price target on Advance Auto Parts and gave the stock an "equal weight" rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Advance Auto Parts presently has an average rating of "Hold" and an average price target of $46.11.

Advance Auto Parts Price Performance

Advance Auto Parts stock traded up $2.74 on Wednesday, reaching $52.34. The company's stock had a trading volume of 4,860,565 shares, compared to its average volume of 2,673,332. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 71.78, a PEG ratio of 1.98 and a beta of 0.93. The business's fifty day moving average price is $35.10 and its 200 day moving average price is $40.53. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $71.09.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings results 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 return on equity of 1.82% and a net margin of 0.41%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The firm's revenue for the quarter was down 24.2% compared to the same quarter last year. Equities analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share 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. Shareholders of record on Friday, July 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.91%. Advance Auto Parts's dividend payout ratio (DPR) is currently -17.04%.

Insiders Place Their Bets

In other news, CEO Shane M. Okelly purchased 1,500 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, with a total value of $55,185.00. Following the acquisition, the chief executive officer now owns 183,121 shares in the company, valued at approximately $6,737,021.59. This trade represents a 0.83% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $34.15 per share, with a total value of $499,956.00. Following the completion of the acquisition, the director now owns 34,070 shares in the company, valued at $1,163,490.50. The trade was a 75.35% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.35% of the company's stock.

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.