Advance Auto Parts, Inc. (NYSE:AAP) Shares Acquired by First Hawaiian Bank

First Hawaiian Bank grew its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 29.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,528 shares of the company's stock after purchasing an additional 5,836 shares during the period. First Hawaiian Bank's holdings in Advance Auto Parts were worth $1,001,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of AAP. CIBC Asset Management Inc boosted its holdings in shares of Advance Auto Parts by 3.9% during the 4th quarter. CIBC Asset Management Inc now owns 5,865 shares of the company's stock valued at $277,000 after buying an additional 221 shares in the last quarter. Yousif Capital Management LLC lifted its position in Advance Auto Parts by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 26,258 shares of the company's stock valued at $1,242,000 after purchasing an additional 281 shares during the period. Ingalls & Snyder LLC raised its position in Advance Auto Parts by 5.0% in the fourth quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company's stock worth $316,000 after acquiring an additional 317 shares during the period. Studio Investment Management LLC grew its position 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 period. Finally, Blue Trust Inc. lifted its position in Advance Auto Parts by 38.9% during the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock valued at $79,000 after purchasing an additional 469 shares in the last quarter. Institutional investors own 88.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. BMO Capital Markets restated 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 note on Friday, May 23rd. Raymond James lifted their price objective on shares of Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research note on Monday, May 26th. Wells Fargo & Company set a $35.00 price objective on Advance Auto Parts and gave the company an "equal weight" rating in a research report on Monday, May 19th. Redburn Atlantic upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and increased their price target for the company from $28.00 to $45.00 in a report on Tuesday. Finally, Royal Bank of Canada lowered their price target on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $46.01.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly bought 1,500 shares of Advance Auto Parts stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the transaction, the chief executive officer now directly owns 183,121 shares of the company's stock, valued at $6,737,021.59. This trade represents a 0.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $34.15 per share, with a total value of $499,956.00. Following the purchase, the director now owns 34,070 shares of the company's stock, valued at $1,163,490.50. This trade represents a 75.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by company insiders.

Advance Auto Parts Stock Performance

NYSE AAP traded down $0.55 on Wednesday, hitting $51.42. 761,838 shares of the company's stock traded hands, compared to its average volume of 2,451,930. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $67.03. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $3.08 billion, a PE ratio of 70.44, a P/E/G ratio of 1.98 and a beta of 0.93. The firm's 50-day moving average price is $36.28 and its two-hundred day moving average price is $40.88.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share 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 the consensus estimate of $2.51 billion. During the same quarter last year, the business posted $0.67 earnings per share. The business's quarterly revenue was down 24.2% compared to the same quarter last year. As a group, analysts expect 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. Shareholders of record on Friday, July 11th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Friday, July 11th. Advance Auto Parts's dividend payout ratio (DPR) is presently -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.