Advance Auto Parts, Inc. (NYSE:AAP) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 294,537 shares of the company's stock after buying an additional 6,805 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of Advance Auto Parts worth $11,549,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division increased its stake in shares of Advance Auto Parts by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock worth $129,000 after acquiring an additional 300 shares during the period. Sovran Advisors LLC grew its position in Advance Auto Parts by 4.3% during the 1st quarter. Sovran Advisors LLC now owns 7,822 shares of the company's stock worth $307,000 after purchasing an additional 322 shares during the period. Studio Investment Management LLC grew its position in Advance Auto Parts by 6.7% during the 4th quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock worth $263,000 after purchasing an additional 350 shares during the period. Investors Research Corp lifted its holdings in shares of Advance Auto Parts by 7.1% in the 1st quarter. Investors Research Corp now owns 5,625 shares of the company's stock valued at $221,000 after buying an additional 375 shares during the period. Finally, Johnson Investment Counsel Inc. lifted its holdings in shares of Advance Auto Parts by 5.2% in the 1st quarter. Johnson Investment Counsel Inc. now owns 10,773 shares of the company's stock valued at $422,000 after buying an additional 528 shares during the period. Institutional investors and hedge funds own 88.75% of the company's stock.

Advance Auto Parts Trading Down 0.4%

NYSE AAP traded down $0.26 on Monday, reaching $62.30. The stock had a trading volume of 2,604,600 shares, compared to its average volume of 2,731,849. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -10.61 and a beta of 1.04. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $64.92. The stock has a fifty day moving average price of $46.11 and a two-hundred day moving average price of $42.43.

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, 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 company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The business's revenue for the quarter was down 24.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 11th. This represents a $1.00 annualized dividend and a yield of 1.61%. Advance Auto Parts's payout ratio is -17.04%.

Insiders Place Their Bets

In other news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction dated Friday, June 20th. The stock was 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 in the company, valued at approximately $479,183.52. This trade represents a 8.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Roth Capital set a $50.00 price target on Advance Auto Parts and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Evercore ISI raised their price target on shares of Advance Auto Parts from $50.00 to $52.00 and gave the company an "in-line" rating in a research report on Tuesday, June 24th. DA Davidson upped their price objective on shares of Advance Auto Parts from $45.00 to $47.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. The Goldman Sachs Group cut Advance Auto Parts from a "neutral" rating to a "sell" rating and reduced their target price for the company from $48.00 to $46.00 in a report on Tuesday, June 24th. Finally, Redburn Partners upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective for the company in a report on Tuesday, June 3rd. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts has an average rating of "Hold" and a consensus target price of $46.53.

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.