Nisa Investment Advisors LLC Boosts Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Nisa Investment Advisors LLC grew its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 22.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,088 shares of the company's stock after purchasing an additional 4,399 shares during the quarter. Nisa Investment Advisors LLC's holdings in Advance Auto Parts were worth $944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Advance Auto Parts by 18.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,919 shares of the company's stock valued at $30,735,000 after buying an additional 100,445 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Advance Auto Parts during the 4th quarter worth approximately $8,822,000. Amundi increased its stake in Advance Auto Parts by 184.9% during the 4th quarter. Amundi now owns 29,900 shares of the company's stock valued at $1,361,000 after purchasing an additional 19,404 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Advance Auto Parts in the fourth quarter worth $262,000. Finally, Swiss National Bank grew its holdings in shares of Advance Auto Parts by 0.9% during the fourth quarter. Swiss National Bank now owns 117,400 shares of the company's stock valued at $5,552,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Mizuho lifted their price target on Advance Auto Parts from $38.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Bank of America upped their target price on Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a research report on Friday, May 23rd. Redburn Atlantic raised shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and raised their price target for the stock from $28.00 to $45.00 in a research report on Tuesday, June 3rd. Wall Street Zen lowered shares of Advance Auto Parts from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. Finally, Raymond James Financial raised their target price on shares of Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a report on Monday, May 26th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts has an average rating of "Hold" and an average target price of $46.53.

Advance Auto Parts Price Performance

Shares of AAP stock traded down $1.15 during trading hours on Thursday, reaching $61.14. The company had a trading volume of 2,803,431 shares, compared to its average volume of 2,619,393. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $64.92. 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 company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -10.42 and a beta of 1.04. The stock has a fifty day moving average of $47.95 and a 200-day moving average of $42.83.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly 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 negative net margin of 3.74% and a negative return on equity of 1.76%. The firm had revenue of $2.58 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter in the previous year, the company posted $0.67 EPS. The company's revenue was down 24.2% compared to the same quarter last year. On average, equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Friday, July 11th. Advance Auto Parts's payout ratio is presently -17.04%.

Insider Buying and Selling

In related news, SVP Jason Hand sold 948 shares of the stock in a transaction that occurred on 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 directly owned 9,876 shares in the company, valued at approximately $479,183.52. This represents a 8.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.35% of the company's stock.

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.