UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,961 shares of the company's stock after buying an additional 9,803 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.26% of Advance Auto Parts worth $7,470,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Eminence Capital LP acquired a new stake in shares of Advance Auto Parts during the fourth quarter worth $87,214,000. Price T Rowe Associates Inc. MD grew its position in shares of Advance Auto Parts by 34.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock worth $316,160,000 after purchasing an additional 1,706,328 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new stake in shares of Advance Auto Parts during the 4th quarter worth approximately $75,055,000. Marshall Wace LLP lifted its holdings in shares of Advance Auto Parts by 2,585.1% in the fourth quarter. Marshall Wace LLP now owns 1,353,912 shares of the company's stock worth $64,026,000 after acquiring an additional 1,303,488 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Advance Auto Parts by 2,662.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock worth $61,156,000 after acquiring an additional 1,246,384 shares during the last quarter. 88.75% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Shane M. Okelly bought 1,500 shares of Advance Auto Parts stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Redburn Atlantic upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $28.00 to $45.00 in a research report on Tuesday. Bank of America lifted 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. Cowen restated a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 23rd. Redburn Partners upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective for the company in a research note on Tuesday. Finally, Morgan Stanley raised their price target 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 investment analyst has rated the stock with a sell rating, twenty have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $46.01.

Advance Auto Parts Stock Performance

Shares of NYSE AAP traded up $0.60 during mid-day trading on Thursday, hitting $52.28. The stock had a trading volume of 337,402 shares, compared to its average volume of 2,453,277. The firm has a market cap of $3.13 billion, a PE ratio of 71.94, a PEG ratio of 1.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The company has a 50 day moving average of $36.54 and a two-hundred day moving average of $40.96. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $67.03.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.81) by $0.59. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.51 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company's revenue was down 24.2% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. Research analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, July 11th. Advance Auto Parts's dividend payout ratio is presently -17.04%.

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.