Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. lowered its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 17.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 101,317 shares of the company's stock after selling 20,683 shares during the quarter. Advance Auto Parts accounts for about 3.5% of Savoir Faire Capital Management L.P.'s portfolio, making the stock its 11th biggest holding. Savoir Faire Capital Management L.P. owned 0.17% of Advance Auto Parts worth $3,973,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AMG National Trust Bank raised its holdings in shares of Advance Auto Parts by 38.1% during the 1st quarter. AMG National Trust Bank now owns 43,615 shares of the company's stock worth $1,710,000 after acquiring an additional 12,040 shares during the period. Pzena Investment Management LLC raised its holdings in shares of Advance Auto Parts by 31.8% during the 1st quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company's stock worth $169,093,000 after acquiring an additional 1,041,611 shares during the period. Segall Bryant & Hamill LLC raised its holdings in shares of Advance Auto Parts by 7.7% during the 1st quarter. Segall Bryant & Hamill LLC now owns 787,559 shares of the company's stock worth $30,880,000 after acquiring an additional 56,205 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Advance Auto Parts by 22.2% during the 1st quarter. New York State Common Retirement Fund now owns 46,558 shares of the company's stock worth $1,826,000 after acquiring an additional 8,452 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Advance Auto Parts by 22.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 24,088 shares of the company's stock worth $944,000 after acquiring an additional 4,399 shares during the period. Hedge funds and other institutional investors own 88.75% of the company's stock.

Insider Activity

In other 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 transaction 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Redburn Atlantic upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $28.00 to $45.00 in a report on Tuesday, June 3rd. Redburn Partners raised Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective for the company in a research report on Tuesday, June 3rd. Cowen restated a "hold" rating on shares of Advance Auto Parts in a research note on Friday, May 23rd. Mizuho boosted their target price on Advance Auto Parts from $38.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $50.00 price objective (up previously from $40.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts currently has an average rating of "Hold" and a consensus target price of $46.53.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock traded up $0.07 on Friday, hitting $61.15. The company's stock had a trading volume of 1,448,321 shares, compared to its average volume of 2,630,262. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $64.58. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $49.15 and a 200-day moving average price of $43.00. The company has a market capitalization of $3.66 billion, a P/E ratio of -10.42 and a beta of 1.04.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced 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 negative net margin of 3.74% and a negative return on equity of 1.76%. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company posted $0.67 EPS. The firm's revenue for the quarter was down 24.2% on a year-over-year basis. On average, equities research analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts's payout ratio is currently -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.