Nuveen Asset Management LLC Lowers Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Nuveen Asset Management LLC lessened its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,329 shares of the company's stock after selling 7,130 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.25% of Advance Auto Parts worth $7,062,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAP. Invenomic Capital Management LP lifted its holdings in Advance Auto Parts by 83.9% in the fourth quarter. Invenomic Capital Management LP now owns 157,644 shares of the company's stock worth $7,455,000 after buying an additional 71,928 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Advance Auto Parts by 49.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 38,486 shares of the company's stock worth $1,820,000 after acquiring an additional 12,700 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Advance Auto Parts by 40.6% in the 4th quarter. Focus Partners Wealth now owns 29,343 shares of the company's stock valued at $1,388,000 after purchasing an additional 8,469 shares during the period. Ensign Peak Advisors Inc lifted its stake in shares of Advance Auto Parts by 36.3% in the 4th quarter. Ensign Peak Advisors Inc now owns 26,403 shares of the company's stock valued at $1,249,000 after purchasing an additional 7,035 shares during the period. Finally, Estuary Capital Management LP boosted its position in shares of Advance Auto Parts by 21.4% during the fourth quarter. Estuary Capital Management LP now owns 955,117 shares of the company's stock valued at $45,167,000 after purchasing an additional 168,149 shares in the last quarter. Institutional investors own 88.75% of the company's stock.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock traded up $2.27 during trading on Tuesday, hitting $52.00. 2,947,112 shares of the company's stock traded hands, compared to its average volume of 2,458,531. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $67.03. The business has a 50-day simple moving average of $36.28 and a 200-day simple moving average of $40.88. The stock has a market capitalization of $3.12 billion, a P/E ratio of 71.23, a PEG ratio of 1.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.81) by $0.59. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm 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 firm posted $0.67 EPS. The business's quarterly revenue was down 24.2% compared to the same quarter last year. As a group, analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Friday, July 11th. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.04%.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly purchased 1,500 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the purchase, the chief executive officer now directly owns 183,121 shares of the company's stock, valued at $6,737,021.59. The trade was a 0.83% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the business's 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 acquisition, the director now directly owns 34,070 shares of the company's stock, valued at $1,163,490.50. This trade represents a 75.35% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AAP shares. DA Davidson increased their price objective on Advance Auto Parts from $45.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Citigroup reduced their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $48.00 price target (up from $43.00) on shares of Advance Auto Parts in a research note on Thursday, May 22nd. Raymond James boosted 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. Finally, Morgan Stanley upped their price objective on shares of Advance Auto Parts from $45.00 to $48.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Advance Auto Parts currently has a consensus rating of "Hold" and an average target price of $46.01.

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.