Allianz Asset Management GmbH Raises Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Allianz Asset Management GmbH boosted its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 799,675 shares of the company's stock after buying an additional 59,441 shares during the period. Allianz Asset Management GmbH owned 1.34% of Advance Auto Parts worth $31,355,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division boosted its stake 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. Sovran Advisors LLC raised its stake in shares of 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 in the last quarter. Studio Investment Management LLC increased its holdings in shares of Advance Auto Parts by 6.7% during the 4th quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock valued at $263,000 after acquiring an additional 350 shares during the last quarter. Investors Research Corp grew its holdings in 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 last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in Advance Auto Parts by 189.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after buying an additional 465 shares during the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Stock Down 10.2%

Shares of Advance Auto Parts stock traded down $6.81 during trading hours on Thursday, reaching $59.69. The company's stock had a trading volume of 5,212,813 shares, compared to its average volume of 2,934,679. Advance Auto Parts, Inc. has a one year low of $28.89 and a one year high of $70.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The stock's fifty day simple moving average is $51.07 and its two-hundred day simple moving average is $43.40. The company has a market capitalization of $3.58 billion, a P/E ratio of -10.17 and a beta of 1.04.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results 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 company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. Advance Auto Parts had a negative return on equity of 1.76% and a negative net margin of 3.74%. The company's revenue for the quarter was down 24.2% on a year-over-year basis. During the same quarter last year, the company earned $0.67 earnings per share. On average, research analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. Advance Auto Parts's payout ratio is presently -17.04%.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $48.52, for a total transaction of $45,996.96. Following the sale, the senior vice president directly owned 9,876 shares of the company's stock, valued at $479,183.52. This represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AAP shares. Wells Fargo & Company set a $35.00 target price on Advance Auto Parts and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Bank of America upped their price objective on Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. Wall Street Zen cut Advance Auto Parts from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. Raymond James Financial upped their price objective on Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research report on Monday, May 26th. Finally, Morgan Stanley upped their price objective on Advance Auto Parts from $45.00 to $48.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. 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 company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.