SG Americas Securities LLC Has $783,000 Stake in Advance Auto Parts, Inc. (NYSE:AAP)

SG Americas Securities LLC lifted its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 132.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,981 shares of the company's stock after purchasing an additional 11,378 shares during the period. SG Americas Securities LLC's holdings in Advance Auto Parts were worth $783,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc increased its stake in shares of Advance Auto Parts by 3.9% in 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 during the period. Central Pacific Bank Trust Division boosted its holdings in Advance Auto Parts by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock valued at $129,000 after acquiring an additional 300 shares during the last quarter. Studio Investment Management LLC increased its position in Advance Auto Parts by 6.7% in the fourth quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock worth $263,000 after purchasing an additional 350 shares during the period. Investors Research Corp raised its holdings in Advance Auto Parts by 7.1% during the 1st quarter. Investors Research Corp now owns 5,625 shares of the company's stock worth $221,000 after purchasing an additional 375 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Advance Auto Parts by 38.9% during the 4th quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock worth $79,000 after purchasing an additional 469 shares during the last quarter. Institutional investors own 88.75% of the company's stock.

Advance Auto Parts Stock Up 1.8%

Shares of Advance Auto Parts stock traded up $0.86 on Friday, reaching $49.41. 1,809,555 shares of the company were exchanged, compared to its average volume of 2,479,482. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -8.42 and a beta of 1.06. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. Advance Auto Parts, Inc. has a one year low of $28.89 and a one year high of $67.03. The company has a 50-day moving average of $40.00 and a 200 day moving average of $41.63.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.81) by $0.59. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.51 billion. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The firm's revenue for the quarter was down 24.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. On average, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.02%. Advance Auto Parts's payout ratio is -17.04%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AAP. Citigroup cut their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Morgan Stanley increased their target price on Advance Auto Parts from $45.00 to $48.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Bank of America raised their target price on Advance Auto Parts from $33.00 to $39.00 and gave the stock an "underperform" rating in a report on Friday, May 23rd. Redburn Partners upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 target price for the company in a research report on Tuesday, June 3rd. Finally, Redburn Atlantic upgraded shares of 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 research report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $46.25.

About Advance Auto Parts

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.