Wealth Enhancement Advisory Services LLC Has $363,000 Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Wealth Enhancement Advisory Services LLC lowered its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 46.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,262 shares of the company's stock after selling 7,893 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Advance Auto Parts were worth $363,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Advance Auto Parts by 34.3% in 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 acquiring an additional 1,706,328 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in shares of Advance Auto Parts by 11.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,449,554 shares of the company's stock worth $163,129,000 after buying an additional 347,587 shares during the period. Pzena Investment Management LLC lifted its position in shares of Advance Auto Parts by 12.5% during the 4th quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock worth $154,681,000 after buying an additional 362,239 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Advance Auto Parts by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company's stock worth $129,016,000 after buying an additional 297,741 shares during the period. Finally, Eminence Capital LP bought a new position in shares of Advance Auto Parts during the 4th quarter worth approximately $87,214,000. Institutional investors own 88.75% of the company's stock.

Insiders Place Their Bets

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $48.52, for a total transaction of $45,996.96. Following the transaction, the senior vice president owned 9,876 shares of the company's stock, valued at $479,183.52. The trade was a 8.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Advance Auto Parts Stock Up 2.8%

Shares of NYSE:AAP traded up $1.51 during midday trading on Tuesday, reaching $55.73. The company had a trading volume of 3,140,215 shares, compared to its average volume of 2,581,092. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. The business's 50 day moving average price is $44.03 and its 200 day moving average price is $42.00. The stock has a market cap of $3.34 billion, a PE ratio of -9.49 and a beta of 1.04. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $64.92.

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 for the quarter, topping analysts' consensus estimates of ($0.81) by $0.59. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.51 billion. Advance Auto Parts had a negative return on equity of 1.76% and a negative net margin of 3.74%. The business's revenue was down 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. Research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently declared 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 1.79%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.04%.

Wall Street Analyst Weigh In

AAP has been the subject of several analyst reports. Raymond James Financial raised their target price on Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research report on Monday, May 26th. Roth Capital set a $50.00 price target on Advance Auto Parts and gave the company a "neutral" rating in a report on Wednesday, May 28th. The Goldman Sachs Group cut Advance Auto Parts from a "neutral" rating to a "sell" rating and dropped their price target for the company from $48.00 to $46.00 in a report on Tuesday, June 24th. Cowen reaffirmed a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 23rd. Finally, UBS Group reaffirmed a "neutral" rating and set a $50.00 price target (up from $36.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. Three research analysts have 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, Advance Auto Parts currently has a consensus rating of "Hold" and an average target price of $46.53.

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.