Stratos Wealth Partners LTD. Has $385,000 Position in Advance Auto Parts, Inc. (NYSE:AAP)

Stratos Wealth Partners LTD. increased its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 6.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,811 shares of the company’s stock after purchasing an additional 588 shares during the period. Stratos Wealth Partners LTD.’s holdings in Advance Auto Parts were worth $385,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Annandale Capital LLC raised its holdings in shares of Advance Auto Parts by 46.6% in the 4th quarter. Annandale Capital LLC now owns 109,241 shares of the company’s stock worth $5,166,000 after buying an additional 34,746 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Advance Auto Parts during the fourth quarter worth $8,822,000. Commonwealth Equity Services LLC lifted its holdings in shares of Advance Auto Parts by 97.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 305,622 shares of the company’s stock valued at $14,453,000 after acquiring an additional 150,604 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of Advance Auto Parts in the 4th quarter valued at $34,586,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Advance Auto Parts by 18.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,919 shares of the company’s stock worth $30,735,000 after purchasing an additional 100,445 shares during the last quarter. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

Shares of AAP stock opened at $62.30 on Tuesday. The firm’s 50 day moving average price is $46.11 and its two-hundred day moving average price is $42.43. 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 stock has a market cap of $3.73 billion, a PE ratio of -10.61 and a beta of 1.04.

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

Advance Auto Parts Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, July 11th. This represents a $1.00 annualized dividend and a yield of 1.61%. Advance Auto Parts’s dividend payout ratio is currently -17.04%.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the company’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 completion of the transaction, the senior vice president owned 9,876 shares of the company’s stock, valued at $479,183.52. This represents a 8.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AAP has been the subject of several analyst reports. The Goldman Sachs Group downgraded shares of Advance Auto Parts from a “neutral” rating to a “sell” rating and cut their price target for the company from $48.00 to $46.00 in a report on Tuesday, June 24th. Redburn Atlantic raised Advance Auto Parts from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $28.00 to $45.00 in a report on Tuesday, June 3rd. Evercore ISI increased their price target on Advance Auto Parts from $50.00 to $52.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 24th. Mizuho lifted their price objective on Advance Auto Parts from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, July 3rd. Finally, Cowen reissued a “hold” rating on shares of Advance Auto Parts in a research note on Friday, May 23rd. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently 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.