Advance Auto Parts, Inc. (NYSE:AAP) Stock Position Increased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 455.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,790 shares of the company's stock after buying an additional 48,198 shares during the period. Janney Montgomery Scott LLC owned approximately 0.10% of Advance Auto Parts worth $2,305,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AAP. Central Pacific Bank Trust Division lifted its holdings in Advance Auto Parts by 10.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock worth $129,000 after buying an additional 300 shares in the last quarter. Studio Investment Management LLC boosted its holdings in shares of Advance Auto Parts by 6.7% in the 4th quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock valued at $263,000 after buying an additional 350 shares in the last quarter. Investors Research Corp grew its position 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 last quarter. Allworth Financial LP lifted its position in Advance Auto Parts by 1,543.4% in the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock valued at $40,000 after acquiring an additional 818 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Advance Auto Parts by 1.8% in the 4th quarter. Baird Financial Group Inc. now owns 50,307 shares of the company's stock valued at $2,379,000 after purchasing an additional 880 shares during the period. Institutional investors and hedge funds own 88.75% of the company's stock.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $48.52, for a total value of $45,996.96. Following the transaction, the senior vice president now owns 9,876 shares of the company's stock, valued at $479,183.52. This trade represents a 8.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.35% of the company's stock.

Advance Auto Parts Trading Down 0.9%

Shares of Advance Auto Parts stock traded down $0.42 during trading hours on Thursday, reaching $46.26. The stock had a trading volume of 2,570,761 shares, compared to its average volume of 2,508,503. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -7.88 and a beta of 1.06. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $64.92. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The firm has a 50 day simple moving average of $41.35 and a two-hundred day simple moving average of $41.78.

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

Advance Auto Parts Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.04%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AAP. Wall Street Zen upgraded Advance Auto Parts from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Royal Bank Of Canada cut their price objective on shares of 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. Raymond James Financial increased their price objective on shares of Advance Auto Parts to $49.17 and gave the company a "hold" rating in a research note on Monday, May 26th. Roth Capital set a $50.00 target price on shares of Advance Auto Parts and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group lowered shares of Advance Auto Parts from a "neutral" rating to a "sell" rating and lowered their price target for the company from $48.00 to $46.00 in a research report on Tuesday. Two analysts have rated the stock with a sell rating, twenty have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $46.25.

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.