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

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

Several other institutional investors have also bought and sold shares of the stock. Advisory Services Network LLC acquired a new position in shares of Advance Auto Parts in the 4th quarter worth approximately $46,000. Financial Management Professionals Inc. acquired a new position in Advance Auto Parts in the first quarter worth approximately $49,000. Central Pacific Bank Trust Division increased its holdings in shares of Advance Auto Parts by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock valued at $129,000 after buying an additional 300 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Advance Auto Parts by 52.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,567 shares of the company's stock valued at $169,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Advance Auto Parts by 36.5% during the 4th quarter. Covestor Ltd now owns 3,763 shares of the company's stock worth $178,000 after acquiring an additional 1,007 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company's stock.

Insider Buying and Selling at Advance Auto Parts

In other news, SVP Jason Hand sold 948 shares of the stock in a transaction dated 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 approximately $479,183.52. This represents a 8.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is owned by corporate insiders.

Advance Auto Parts Stock Up 5.1%

Shares of NYSE:AAP traded up $3.04 during midday trading on Friday, hitting $62.64. 3,153,601 shares of the stock were exchanged, compared to its average volume of 2,602,143. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $64.92. The business's fifty day simple moving average is $45.52 and its two-hundred day simple moving average is $42.32. The company has a market capitalization of $3.75 billion, a PE ratio of -10.67 and a beta of 1.04.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.59. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The company's revenue for the quarter was down 24.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. As a group, research analysts predict that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts's payout ratio is -17.04%.

Wall Street Analysts Forecast Growth

AAP has been the topic of a number of recent analyst reports. Bank of America boosted their target price 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. Roth Capital set a $50.00 target price on Advance Auto Parts and gave the company a "neutral" rating in a report on Wednesday, May 28th. Mizuho upped their price objective on shares of Advance Auto Parts from $38.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. The Goldman Sachs Group lowered shares of Advance Auto Parts from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $48.00 to $46.00 in a research note on Tuesday, June 24th. Finally, DA Davidson upped their price objective on shares of Advance Auto Parts from $45.00 to $47.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts has an average rating of "Hold" and an average target price of $46.53.

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.