Advance Auto Parts, Inc. (NYSE:AAP) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 12,026.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,992 shares of the company’s stock after acquiring an additional 189,417 shares during the period. GAMMA Investing LLC owned about 0.32% of Advance Auto Parts worth $7,489,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP boosted its stake in Advance Auto Parts by 1,543.4% in 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 period. Vision Financial Markets LLC bought a new stake in shares of Advance Auto Parts during the fourth quarter valued at approximately $42,000. Advisory Services Network LLC bought a new stake in shares of Advance Auto Parts during the fourth quarter valued at approximately $46,000. Blue Trust Inc. raised its holdings in shares of Advance Auto Parts by 38.9% during the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company’s stock valued at $79,000 after buying an additional 469 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its holdings in shares of Advance Auto Parts by 10.0% during 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 during the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup dropped their target price on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Cowen reissued a “hold” rating on shares of Advance Auto Parts in a report on Friday, May 23rd. Evercore ISI boosted their target price on Advance Auto Parts from $35.00 to $45.00 and gave the stock an “in-line” rating in a report on Friday, May 23rd. BMO Capital Markets reissued a “market perform” rating and set a $50.00 target price (up previously from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. Finally, Royal Bank of Canada decreased their price target on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.01.

Insider Activity

In related news, CEO Shane M. Okelly purchased 1,500 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the acquisition, the chief executive officer now directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. The trade was a 0.83% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $52.47 on Monday. The company’s fifty day moving average is $37.07 and its two-hundred day moving average is $41.17. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $67.03. The company has a market cap of $3.14 billion, a P/E ratio of 71.88, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.59. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the company posted $0.67 EPS. Advance Auto Parts’s revenue was down 24.2% on a year-over-year basis. Equities analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts’s dividend payout ratio is currently -17.04%.

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.