Advance Auto Parts, Inc. (NYSE:AAP) Shares Acquired by AMG National Trust Bank

AMG National Trust Bank raised its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 38.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,615 shares of the company's stock after buying an additional 12,040 shares during the quarter. AMG National Trust Bank owned about 0.07% of Advance Auto Parts worth $1,710,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AAP. Eminence Capital LP bought a new position in shares of Advance Auto Parts in the fourth quarter valued at $87,214,000. Price T Rowe Associates Inc. MD raised its position in Advance Auto Parts by 34.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock worth $316,160,000 after purchasing an additional 1,706,328 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new stake in shares of Advance Auto Parts in the fourth quarter valued at approximately $75,055,000. Marshall Wace LLP grew its holdings in Advance Auto Parts by 2,585.1% during the 4th quarter. Marshall Wace LLP now owns 1,353,912 shares of the company's stock worth $64,026,000 after acquiring an additional 1,303,488 shares during the period. Finally, Pzena Investment Management LLC boosted its position in shares of Advance Auto Parts by 31.8% during the first quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company's stock worth $169,093,000 after purchasing an additional 1,041,611 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction on Friday, June 20th. The shares were sold at an average price of $48.52, for a total value of $45,996.96. Following the completion of the transaction, the senior vice president owned 9,876 shares of the company's stock, valued at approximately $479,183.52. The trade was a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.67% of the stock is currently owned by company insiders.

Advance Auto Parts Price Performance

Shares of NYSE:AAP traded up $1.69 during trading on Monday, hitting $62.82. 2,008,760 shares of the company's stock were exchanged, compared to its average volume of 2,627,776. The business's 50-day simple moving average is $49.15 and its 200 day simple moving average is $42.97. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $64.58. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. The company has a market cap of $3.76 billion, a price-to-earnings ratio of -10.70 and a beta of 1.04.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the firm earned $0.67 EPS. The company's revenue for the quarter was down 24.2% compared to the same quarter last year. As a group, equities analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS 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 issued 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 1.59%. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.04%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AAP shares. Cowen restated a "hold" rating on shares of Advance Auto Parts in a research note on Friday, May 23rd. BMO Capital Markets reissued a "market perform" rating and set a $50.00 target price (up previously from $40.00) on shares of Advance Auto Parts in a research report on Friday, May 23rd. Morgan Stanley boosted their target price on shares of Advance Auto Parts from $45.00 to $48.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Redburn Atlantic raised shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $28.00 to $45.00 in a research report on Tuesday, June 3rd. Finally, Roth Capital set a $50.00 target price on Advance Auto Parts and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $46.53.

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.