Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 49.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,327 shares of the company's stock after selling 29,775 shares during the period. Verition Fund Management LLC owned approximately 0.05% of Advance Auto Parts worth $1,182,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAP. Mather Group LLC. increased its position in shares of Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company's stock worth $41,000 after purchasing an additional 596 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Advance Auto Parts during the 2nd quarter worth approximately $41,000. Blue Trust Inc. increased its position in Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company's stock worth $47,000 after buying an additional 436 shares during the period. AM Squared Ltd purchased a new stake in Advance Auto Parts in the second quarter valued at approximately $63,000. Finally, KBC Group NV boosted its holdings in shares of Advance Auto Parts by 29.1% in the third quarter. KBC Group NV now owns 1,749 shares of the company's stock valued at $68,000 after acquiring an additional 394 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Price Performance

Advance Auto Parts stock traded up $1.36 during midday trading on Friday, reaching $44.97. The company's stock had a trading volume of 2,222,209 shares, compared to its average volume of 2,875,838. The firm has a market capitalization of $2.69 billion, a PE ratio of 61.60 and a beta of 1.21. Advance Auto Parts, Inc. has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The stock's 50 day simple moving average is $39.51 and its 200 day simple moving average is $50.85. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.

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 analysts' consensus estimates 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 company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the prior year, the firm posted ($0.82) EPS. The firm's quarterly revenue was down 3.2% on a year-over-year basis. On average, equities research analysts forecast that Advance Auto Parts, Inc. will post -0.51 earnings per share 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. Investors of record on Friday, January 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.22%. Advance Auto Parts's dividend payout ratio is presently 136.99%.

Insiders Place Their Bets

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the firm's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. This trade represents a 5.00 % decrease in their position. The transaction 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group cut their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. TD Cowen dropped their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating on the stock in a research note on Friday, August 23rd. Wells Fargo & Company decreased their target price 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. DA Davidson reissued a "neutral" rating and set a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. Finally, Roth Mkm reaffirmed a "neutral" rating and set a $40.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given 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.

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.