Voloridge Investment Management LLC Lowers Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Voloridge Investment Management LLC decreased its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 16.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 165,130 shares of the company's stock after selling 32,338 shares during the quarter. Voloridge Investment Management LLC owned 0.28% of Advance Auto Parts worth $7,809,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock valued at $40,000 after acquiring an additional 818 shares during the last quarter. Vision Financial Markets LLC acquired a new position in Advance Auto Parts in the 4th quarter valued at $42,000. Advisory Services Network LLC purchased a new position in Advance Auto Parts in the 4th quarter valued at $46,000. Blue Trust Inc. boosted its stake 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. Finally, KBC Group NV grew its holdings in shares of Advance Auto Parts by 51.6% during the fourth quarter. KBC Group NV now owns 2,651 shares of the company's stock worth $125,000 after buying an additional 902 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company's stock.

Insider Buying and Selling at Advance Auto Parts

In other news, Director Eugene I. Lee, Jr. bought 14,640 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This trade represents a 75.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shane M. Okelly purchased 1,500 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the transaction, the chief executive officer now owns 183,121 shares of the company's stock, valued at $6,737,021.59. This trade represents a 0.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on AAP shares. Wedbush reaffirmed an "outperform" rating and set a $55.00 price objective on shares of Advance Auto Parts in a research note on Monday, March 3rd. Roth Capital increased their price target on Advance Auto Parts from $40.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday. UBS Group restated a "neutral" rating and issued a $50.00 target price (up from $36.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. The Goldman Sachs Group reissued a "neutral" rating and set a $48.00 price target (up previously from $43.00) on shares of Advance Auto Parts in a research report on Thursday, May 22nd. Finally, BMO Capital Markets restated a "market perform" rating and set a $50.00 price objective (up from $40.00) on shares of Advance Auto Parts in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $46.11.

Advance Auto Parts Stock Up 6.4%

Shares of NYSE:AAP traded up $3.15 on Wednesday, hitting $52.75. 6,726,221 shares of the company's stock were exchanged, compared to its average volume of 2,470,762. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $71.62. The company has a market capitalization of $3.16 billion, a PE ratio of 72.26, a P/E/G 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 firm's 50-day moving average is $35.10 and its 200 day moving average is $40.53.

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 return on equity of 1.82% and a net margin of 0.41%. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the company posted $0.67 earnings per share. The firm's quarterly revenue was down 24.2% compared to the same quarter last year. Sell-side analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a $0.25 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. Advance Auto Parts's dividend payout ratio (DPR) 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.