First Hawaiian Bank Boosts Stake in Advance Auto Parts, Inc. (NYSE:AAP)

First Hawaiian Bank lifted its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 29.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 25,528 shares of the company’s stock after acquiring an additional 5,836 shares during the quarter. First Hawaiian Bank’s holdings in Advance Auto Parts were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Eminence Capital LP purchased a new stake in shares of Advance Auto Parts during the 4th quarter valued at about $87,214,000. Price T Rowe Associates Inc. MD boosted its holdings in Advance Auto Parts by 34.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company’s stock worth $316,160,000 after purchasing an additional 1,706,328 shares during the last quarter. Cooper Creek Partners Management LLC purchased a new stake in Advance Auto Parts during the 4th quarter valued at $75,055,000. Marshall Wace LLP lifted its holdings in shares of Advance Auto Parts by 2,585.1% during the 4th quarter. Marshall Wace LLP now owns 1,353,912 shares of the company’s stock valued at $64,026,000 after buying an additional 1,303,488 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Advance Auto Parts by 2,662.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company’s stock worth $61,156,000 after buying an additional 1,246,384 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AAP has been the topic of several research reports. Roth Capital set a $50.00 target price on Advance Auto Parts and gave the stock a “neutral” rating in a research report on Wednesday. Royal Bank of Canada cut their target price on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Raymond James increased their price target on shares of Advance Auto Parts to $49.17 and gave the stock a “hold” rating in a research report on Monday, May 26th. Wells Fargo & Company set a $35.00 price objective on Advance Auto Parts and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Finally, Evercore ISI boosted their price target on Advance Auto Parts from $35.00 to $45.00 and gave the company an “in-line” rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.11.

Insider Transactions at Advance Auto Parts

In related news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now directly owns 34,070 shares in the company, valued at $1,163,490.50. This represents a 75.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Shane M. Okelly acquired 1,500 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $36.79 per share, with a total value of $55,185.00. Following the completion of the purchase, the chief executive officer now directly owns 183,121 shares of the company’s stock, valued at $6,737,021.59. This trade represents a 0.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

Advance Auto Parts Stock Performance

NYSE AAP opened at $47.99 on Friday. The stock has a market capitalization of $2.87 billion, a PE ratio of 65.74, a P/E/G ratio of 1.98 and a beta of 0.93. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $71.09. The business has a 50 day simple moving average of $35.81 and a two-hundred day simple moving average of $40.73. 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) last released its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.59. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the business earned $0.67 earnings per share. Advance Auto Parts’s quarterly revenue was down 24.2% compared to the same quarter last year. On average, research analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts’s payout ratio is -17.04%.

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.