Segall Bryant & Hamill LLC Acquires 56,205 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Segall Bryant & Hamill LLC raised its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 787,559 shares of the company's stock after buying an additional 56,205 shares during the quarter. Segall Bryant & Hamill LLC owned 1.32% of Advance Auto Parts worth $30,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AAP. Raymond James Financial Inc. acquired a new stake in shares of Advance Auto Parts during the fourth quarter worth about $8,822,000. Amundi raised its position in shares of Advance Auto Parts by 184.9% during the fourth quarter. Amundi now owns 29,900 shares of the company's stock worth $1,361,000 after purchasing an additional 19,404 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Advance Auto Parts during the fourth quarter worth about $262,000. Swiss National Bank raised its position in shares of Advance Auto Parts by 0.9% during the fourth quarter. Swiss National Bank now owns 117,400 shares of the company's stock worth $5,552,000 after purchasing an additional 1,000 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in shares of Advance Auto Parts by 97.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 305,622 shares of the company's stock worth $14,453,000 after purchasing an additional 150,604 shares during the period. Institutional investors and hedge funds own 88.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AAP. BMO Capital Markets reaffirmed a "market perform" rating and set a $50.00 price target (up previously from $40.00) on shares of Advance Auto Parts in a research report on Friday, May 23rd. Wall Street Zen lowered Advance Auto Parts from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. Roth Capital set a $50.00 target price on Advance Auto Parts and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Raymond James Financial lifted their target price on Advance Auto Parts to $49.17 and gave the company a "hold" rating in a research report on Monday, May 26th. Finally, Wells Fargo & Company set a $35.00 target price on Advance Auto Parts and gave the company an "equal weight" rating in a research report on Monday, May 19th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $46.53.

Insider Activity at Advance Auto Parts

In related news, SVP Jason Hand sold 948 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $48.52, for a total transaction of $45,996.96. Following the transaction, the senior vice president directly owned 9,876 shares of the company's stock, valued at approximately $479,183.52. This represents a 8.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by insiders.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock traded up $0.07 during trading on Friday, reaching $61.15. 1,448,321 shares of the company's stock were exchanged, compared to its average volume of 2,624,819. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $64.58. The company has a market cap of $3.66 billion, a P/E ratio of -10.42 and a beta of 1.04. The firm's 50-day moving average price is $49.15 and its 200 day moving average price is $43.03.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates 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 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 company posted $0.67 EPS. Advance Auto Parts's quarterly revenue was down 24.2% compared to the same quarter last year. As a group, research analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm 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. The ex-dividend date is Friday, July 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.64%. Advance Auto Parts's payout ratio is -17.04%.

Advance Auto Parts Company 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.