Advance Auto Parts Inc (AAP) Position Increased by Quantitative Systematic Strategies LLC

Quantitative Systematic Strategies LLC increased its position in shares of Advance Auto Parts Inc (NYSE:AAP) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,630 shares of the company’s stock after buying an additional 1,056 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Advance Auto Parts were worth $2,046,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock worth $143,000 after buying an additional 67 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Advance Auto Parts by 28.9% in the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock worth $144,000 after buying an additional 218 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in shares of Advance Auto Parts during the first quarter worth about $148,000. Finally, Huntington National Bank raised its position in shares of Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after buying an additional 283 shares in the last quarter.

Advance Auto Parts Inc (AAP) traded up 2.28% during mid-day trading on Tuesday, reaching $105.52. 579,804 shares of the company’s stock were exchanged. The stock has a market cap of $7.79 billion, a P/E ratio of 19.12 and a beta of 0.89. The stock has a 50-day moving average price of $116.11 and a 200-day moving average price of $143.42. Advance Auto Parts Inc has a 52 week low of $99.13 and a 52 week high of $177.83.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by $0.60. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.94 billion. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. Advance Auto Parts’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.51 earnings per share. On average, analysts forecast that Advance Auto Parts Inc will post $6.42 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 23rd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Advance Auto Parts’s payout ratio is currently 4.36%.

A number of brokerages recently issued reports on AAP. UBS AG reiterated a “buy” rating and issued a $170.00 target price (down previously from $180.00) on shares of Advance Auto Parts in a research report on Thursday, May 25th. BidaskClub lowered shares of Advance Auto Parts from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. BTIG Research reiterated a “sell” rating and issued a $90.00 target price (down previously from $109.00) on shares of Advance Auto Parts in a research report on Thursday, July 13th. Barclays PLC increased their target price on shares of Advance Auto Parts from $93.00 to $120.00 and gave the company an “underweight” rating in a research report on Thursday, July 6th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $135.00 target price (down previously from $150.00) on shares of Advance Auto Parts in a research report on Monday, July 17th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $149.94.

In related news, Director Brad W. Buss bought 1,200 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was bought at an average cost of $134.47 per share, for a total transaction of $161,364.00. Following the transaction, the director now owns 1,928 shares of the company’s stock, valued at $259,258.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Adriana Karaboutis bought 367 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were bought at an average price of $135.28 per share, with a total value of $49,647.76. Following the completion of the transaction, the director now directly owns 3,043 shares in the company, valued at approximately $411,657.04. The disclosure for this purchase can be found here. Insiders have bought a total of 369,462 shares of company stock valued at $49,617,073 over the last 90 days. Corporate insiders own 4.50% of the company’s stock.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

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