TCW Group Inc. Invests $764,000 in Advance Auto Parts, Inc. (NYSE:AAP)

Key Points

• TCW Group Inc. acquired 19,492 shares of Advance Auto Parts, valued at approximately $764,000, during the 1st quarter.
• Advance Auto Parts reported a negative earnings per share of ($0.22), beating analysts' expectations, although revenue was down 24.2% compared to the previous year.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized yield of 1.74%.

TCW Group Inc. bought a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 19,492 shares of the company's stock, valued at approximately $764,000.

Other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Advance Auto Parts by 9.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,774 shares of the company's stock worth $618,000 after acquiring an additional 1,298 shares during the last quarter. Cetera Investment Advisers purchased a new position in Advance Auto Parts during the 1st quarter worth $335,000. Y Intercept Hong Kong Ltd purchased a new position in Advance Auto Parts during the 1st quarter worth $718,000. Allianz Asset Management GmbH boosted its holdings in Advance Auto Parts by 8.0% during the 1st quarter. Allianz Asset Management GmbH now owns 799,675 shares of the company's stock worth $31,355,000 after acquiring an additional 59,441 shares during the last quarter. Finally, AMG National Trust Bank boosted its holdings in 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 last quarter. Hedge funds and other institutional investors own 88.75% of the company's stock.

Advance Auto Parts Stock Performance

Shares of NYSE:AAP traded down $0.83 during midday trading on Friday, reaching $52.24. 636,065 shares of the company traded hands, compared to its average volume of 2,701,786. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -8.91 and a beta of 1.04. The firm's fifty day moving average price is $53.53 and its two-hundred day moving average price is $43.85.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.59. Advance Auto Parts had a negative return on equity of 1.76% and a negative net margin of 3.74%. The business had revenue of $2.58 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm's revenue was down 24.2% on a year-over-year basis. On average, equities analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, July 11th. Advance Auto Parts's dividend payout ratio is -17.04%.

Insider Buying and Selling at Advance Auto Parts

In other news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction on Friday, June 20th. The shares were sold at an average price of $48.52, for a total transaction of $45,996.96. Following the completion of the sale, the senior vice president directly owned 9,876 shares of the company's stock, valued at approximately $479,183.52. The trade was a 8.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AAP shares. Wall Street Zen cut Advance Auto Parts from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. Evercore ISI boosted their price objective on Advance Auto Parts from $52.00 to $56.00 and gave the stock an "in-line" rating in a research report on Friday, July 25th. Wells Fargo & Company set a $35.00 price objective on Advance Auto Parts and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Bank of America boosted their price objective on Advance Auto Parts from $33.00 to $39.00 and gave the stock an "underperform" rating in a research report on Friday, May 23rd. Finally, Roth Capital set a $50.00 price objective on Advance Auto Parts and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Three research 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, the company presently has a consensus rating of "Hold" and a consensus price target of $48.53.

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.