Rhumbline Advisers Decreases Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Rhumbline Advisers lessened its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,677 shares of the company's stock after selling 7,071 shares during the period. Rhumbline Advisers owned 0.23% of Advance Auto Parts worth $5,477,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Allworth Financial LP boosted its holdings 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 acquiring an additional 818 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in Advance Auto Parts during the fourth quarter valued at $42,000. Advisory Services Network LLC bought a new stake in Advance Auto Parts during the fourth quarter valued at approximately $46,000. Blue Trust Inc. grew its position in shares of Advance Auto Parts by 38.9% during the 4th quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock valued at $79,000 after acquiring an additional 469 shares during the period. Finally, Central Pacific Bank Trust Division grew its stake in shares of Advance Auto Parts by 10.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock valued at $129,000 after acquiring an additional 300 shares during the period. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Stock Performance

AAP traded down $2.40 on Friday, hitting $48.41. 2,127,383 shares of the company traded hands, compared to its average volume of 2,474,949. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $67.03. The company has a 50 day moving average of $38.35 and a 200-day moving average of $41.45. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.90 billion, a PE ratio of 66.31, a PEG ratio of 1.98 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 for the quarter, beating analysts' consensus estimates of ($0.81) by $0.59. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. Advance Auto Parts's quarterly revenue was down 24.2% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. Sell-side analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, July 11th. Advance Auto Parts's dividend payout ratio is presently -17.04%.

Wall Street Analyst Weigh In

AAP has been the subject of several research reports. Royal Bank of Canada dropped their price objective on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Evercore ISI raised their price target on shares of Advance Auto Parts from $35.00 to $45.00 and gave the stock an "in-line" rating in a research note on Friday, May 23rd. Cowen restated a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 23rd. DA Davidson increased 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. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $50.00 target price (up from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $46.01.

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.