Wealth Enhancement Advisory Services LLC Takes $811,000 Position in Advance Auto Parts, Inc. (NYSE:AAP)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,155 shares of the company's stock, valued at approximately $811,000.

A number of other institutional investors have also added to or reduced their stakes in AAP. Allworth Financial LP grew its stake 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 worth $40,000 after buying an additional 818 shares during the last quarter. Vision Financial Markets LLC bought a new stake in Advance Auto Parts during the 4th quarter worth $42,000. Advisory Services Network LLC acquired a new position in Advance Auto Parts in the 4th quarter worth about $46,000. Blue Trust Inc. increased its holdings in Advance Auto Parts by 38.9% in 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 in the last quarter. Finally, Sterling Capital Management LLC raised its position in Advance Auto Parts by 52.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,567 shares of the company's stock valued at $169,000 after purchasing an additional 1,228 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Up 1.7%

Shares of AAP stock traded up $0.91 on Tuesday, reaching $53.01. 2,193,340 shares of the company were exchanged, compared to its average volume of 2,681,130. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The company has a 50-day moving average of $37.32 and a 200-day moving average of $41.25. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 72.62, a PEG ratio of 1.98 and a beta of 1.06. Advance Auto Parts, Inc. has a one year low of $28.89 and a one year high of $67.03.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) 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 analysts' expectations of $2.51 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The company's revenue for the quarter was down 24.2% compared to the same quarter last year. Analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Friday, July 11th. Advance Auto Parts's dividend payout ratio (DPR) is -17.04%.

Wall Street Analysts Forecast Growth

AAP has been the subject of several recent research reports. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $48.00 price objective (up previously from $43.00) on shares of Advance Auto Parts in a research note on Thursday, May 22nd. Redburn Partners upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price target for the company in a research report on Tuesday, June 3rd. BMO Capital Markets reaffirmed a "market perform" rating and set a $50.00 price target (up previously from $40.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Wells Fargo & Company set a $35.00 price objective on shares of Advance Auto Parts and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Evercore ISI raised their target price on Advance Auto Parts from $35.00 to $45.00 and gave the stock an "in-line" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $46.01.

Advance Auto Parts Company 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.