UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 17,693 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,158 shares of the company's stock after selling 17,693 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of Advance Auto Parts worth $5,777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Advance Auto Parts in the third quarter worth about $14,684,000. Wolverine Asset Management LLC lifted its stake in Advance Auto Parts by 212.4% in the third quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company's stock worth $1,223,000 after acquiring an additional 21,320 shares during the period. Quest Partners LLC bought a new position in Advance Auto Parts in the 3rd quarter worth $579,000. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Advance Auto Parts in the 2nd quarter worth about $7,916,000. Finally, FORA Capital LLC bought a new stake in shares of Advance Auto Parts during the 3rd quarter valued at about $2,144,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Price Performance

Shares of NYSE AAP traded down $1.52 during mid-day trading on Wednesday, reaching $45.54. The company's stock had a trading volume of 1,449,159 shares, compared to its average volume of 2,085,096. The stock has a fifty day moving average of $40.03 and a two-hundred day moving average of $50.37. The firm has a market capitalization of $2.72 billion, a PE ratio of 62.38 and a beta of 1.21. Advance Auto Parts, Inc. has a 52 week low of $35.59 and a 52 week high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company earned ($0.82) earnings per share. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Advance Auto Parts, Inc. will post -0.51 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, January 10th. Advance Auto Parts's payout ratio is 136.99%.

Insider Buying and Selling at Advance Auto Parts

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AAP. Evercore ISI upped their price target on Advance Auto Parts from $45.00 to $60.00 and gave the stock a "hold" rating in a research note on Wednesday, November 20th. Royal Bank of Canada decreased their price target on shares of Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating for the company in a research note on Monday, November 11th. The Goldman Sachs Group dropped their price objective 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. Wedbush reaffirmed an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. Finally, Roth Mkm reiterated a "neutral" rating and set a $40.00 target price on shares of Advance Auto Parts in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Advance Auto Parts presently has an average rating of "Hold" and an average price target of $48.64.

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.