Rhumbline Advisers Has $5.48 Million Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Rhumbline Advisers trimmed its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,677 shares of the company's stock after selling 7,071 shares during the period. Rhumbline Advisers owned about 0.23% of Advance Auto Parts worth $5,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AAP. Investors Research Corp raised its holdings in Advance Auto Parts by 7.1% during the first quarter. Investors Research Corp now owns 5,625 shares of the company's stock valued at $221,000 after buying an additional 375 shares in the last quarter. GAMMA Investing LLC raised its holdings in Advance Auto Parts by 12,026.5% during the first quarter. GAMMA Investing LLC now owns 190,992 shares of the company's stock valued at $7,489,000 after buying an additional 189,417 shares in the last quarter. Moody National Bank Trust Division raised its holdings in Advance Auto Parts by 5.3% during the first quarter. Moody National Bank Trust Division now owns 26,620 shares of the company's stock valued at $1,044,000 after buying an additional 1,331 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in Advance Auto Parts by 10.0% during the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock valued at $129,000 after buying an additional 300 shares in the last quarter. Finally, First Hawaiian Bank raised its holdings in Advance Auto Parts by 29.6% during the first quarter. First Hawaiian Bank now owns 25,528 shares of the company's stock valued at $1,001,000 after buying an additional 5,836 shares in the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on AAP shares. The Goldman Sachs Group restated a "neutral" rating and set a $48.00 target price (up from $43.00) on shares of Advance Auto Parts in a report on Thursday, May 22nd. UBS Group reiterated a "neutral" rating and issued a $50.00 price objective (up from $36.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Truist Financial dropped their price objective on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $50.00 price objective (up from $40.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $46.01.

Advance Auto Parts Price Performance

NYSE AAP traded up $0.01 during trading on Monday, reaching $48.48. 2,099,244 shares of the company traded hands, compared to its average volume of 2,479,124. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $67.03. 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 stock's 50 day moving average price is $39.07 and its two-hundred day moving average price is $41.49. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 66.41, a P/E/G ratio of 1.98 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) 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 previous year, the firm earned $0.67 EPS. Advance Auto Parts's quarterly revenue was down 24.2% on a year-over-year basis. As a group, analysts anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, July 11th. Advance Auto Parts's dividend payout ratio (DPR) is currently -17.04%.

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.