State Street Corp Has $83.57 Million Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

State Street Corp trimmed its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,143,300 shares of the company's stock after selling 149,008 shares during the quarter. State Street Corp owned 3.59% of Advance Auto Parts worth $83,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. raised its holdings in Advance Auto Parts by 0.5% during the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company's stock worth $3,779,000 after buying an additional 277 shares during the period. Qsemble Capital Management LP lifted its position in Advance Auto Parts by 7.6% in the 2nd quarter. Qsemble Capital Management LP now owns 4,036 shares of the company's stock valued at $256,000 after acquiring an additional 285 shares in the last quarter. Everence Capital Management Inc. boosted its stake in Advance Auto Parts by 3.7% in the 3rd quarter. Everence Capital Management Inc. now owns 8,330 shares of the company's stock worth $325,000 after purchasing an additional 300 shares during the period. Arizona State Retirement System increased its holdings in Advance Auto Parts by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 16,687 shares of the company's stock worth $1,057,000 after purchasing an additional 334 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Advance Auto Parts by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,127 shares of the company's stock valued at $831,000 after purchasing an additional 369 shares during the period. Institutional investors and hedge funds own 88.75% of the company's stock.

Insider Activity

In other news, EVP Tammy M. Finley sold 1,276 shares of the business's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares of the company's stock, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by company insiders.

Advance Auto Parts Stock Performance

Shares of AAP stock traded up $0.49 during trading on Tuesday, reaching $44.47. 1,455,224 shares of the company's stock were exchanged, compared to its average volume of 2,077,453. Advance Auto Parts, Inc. has a twelve month low of $35.59 and a twelve month high of $88.56. The firm's fifty day moving average price is $40.34 and its 200-day moving average price is $49.75. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.66 billion, a PE ratio of 60.90 and a beta of 1.21.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. Advance Auto Parts's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.82) earnings per share. As a group, sell-side analysts anticipate that Advance Auto Parts, Inc. will post -0.54 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts's dividend payout ratio is presently 136.99%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AAP shares. DA Davidson reaffirmed a "neutral" rating and set a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Wells Fargo & Company decreased their price target on shares of Advance Auto Parts from $50.00 to $40.00 and set an "equal weight" rating for the company in a research note on Friday, September 13th. Wedbush reissued an "outperform" rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. The Goldman Sachs Group lowered their price target on shares of Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Finally, Roth Capital upgraded shares of Advance Auto Parts to a "hold" rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $48.40.

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.