Teacher Retirement System of Texas Takes $342,000 Position in Advance Auto Parts, Inc. (NYSE:AAP)

Teacher Retirement System of Texas purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,733 shares of the company’s stock, valued at approximately $342,000.

A number of other institutional investors also recently modified their holdings of the company. Central Pacific Bank Trust Division raised its holdings in 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 worth $129,000 after acquiring an additional 300 shares in the last quarter. Sovran Advisors LLC increased its position in Advance Auto Parts by 4.3% during the first quarter. Sovran Advisors LLC now owns 7,822 shares of the company’s stock worth $307,000 after buying an additional 322 shares during the last quarter. Studio Investment Management LLC increased its position in Advance Auto Parts by 6.7% during the fourth quarter. Studio Investment Management LLC now owns 5,557 shares of the company’s stock worth $263,000 after buying an additional 350 shares during the last quarter. Investors Research Corp increased its position in Advance Auto Parts by 7.1% during the first quarter. Investors Research Corp now owns 5,625 shares of the company’s stock worth $221,000 after buying an additional 375 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in shares of Advance Auto Parts by 5.2% in the first quarter. Johnson Investment Counsel Inc. now owns 10,773 shares of the company’s stock valued at $422,000 after purchasing an additional 528 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $48.52, for a total value of $45,996.96. Following the completion of the transaction, the senior vice president directly owned 9,876 shares in the company, valued at approximately $479,183.52. The trade was a 8.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Advance Auto Parts Trading Up 0.1%

NYSE:AAP opened at $61.15 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $3.66 billion, a PE ratio of -10.42 and a beta of 1.04. The firm’s 50 day moving average is $49.15 and its 200 day moving average is $43.03. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $64.58.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the business earned $0.67 EPS. Advance Auto Parts’s revenue was down 24.2% compared to the same quarter last year. Sell-side analysts expect 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. Investors of record on Friday, July 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. Advance Auto Parts’s dividend payout ratio is -17.04%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company set a $35.00 target price on Advance Auto Parts and gave the company an “equal weight” rating in a research report on Monday, May 19th. BMO Capital Markets reissued 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 report on Friday, May 23rd. Morgan Stanley increased their price target on Advance Auto Parts from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, May 23rd. Redburn Atlantic upgraded Advance Auto Parts from a “sell” rating to a “neutral” rating and upped their target price for the stock from $28.00 to $45.00 in a research note on Tuesday, June 3rd. Finally, UBS Group reiterated a “neutral” rating and issued a $50.00 price target (up from $36.00) 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 MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.53.

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.