SeaBridge Investment Advisors LLC acquired a new stake in Advance Auto Parts Inc (NYSE:AAP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 9,661 shares of the company’s stock, valued at approximately $1,126,000.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Advance Auto Parts by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,780,206 shares of the company’s stock valued at $1,005,233,000 after buying an additional 212,632 shares during the period. BlackRock Inc. increased its stake in shares of Advance Auto Parts by 3,142.5% in the first quarter. BlackRock Inc. now owns 4,320,280 shares of the company’s stock valued at $640,524,000 after buying an additional 4,187,042 shares during the period. Lazard Asset Management LLC increased its stake in shares of Advance Auto Parts by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,135,361 shares of the company’s stock valued at $464,848,000 after buying an additional 983,616 shares during the period. American Century Companies Inc. increased its stake in shares of Advance Auto Parts by 19.2% in the first quarter. American Century Companies Inc. now owns 1,589,566 shares of the company’s stock valued at $235,669,000 after buying an additional 255,548 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Advance Auto Parts by 51.2% in the first quarter. Point72 Asset Management L.P. now owns 1,538,878 shares of the company’s stock valued at $228,154,000 after buying an additional 521,078 shares during the period.
Advance Auto Parts Inc (AAP) opened at 106.70 on Thursday. Advance Auto Parts Inc has a 12-month low of $99.13 and a 12-month high of $177.83. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 19.33 and a beta of 0.88. The stock has a 50 day moving average price of $114.55 and a 200-day moving average price of $142.69.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by $0.60. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.94 billion. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. Advance Auto Parts’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business earned $2.51 earnings per share. Equities analysts predict that Advance Auto Parts Inc will post $6.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 23rd were paid 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 0.22%. Advance Auto Parts’s payout ratio is currently 4.36%.
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A number of analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and set a $160.00 price target (down from $185.00) on shares of Advance Auto Parts in a research report on Sunday, May 28th. Deutsche Bank AG reaffirmed a “buy” rating and set a $139.00 price target (down from $164.00) on shares of Advance Auto Parts in a research report on Friday, July 21st. BidaskClub downgraded Advance Auto Parts from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Citigroup Inc. decreased their price target on Advance Auto Parts from $177.00 to $168.00 and set a “neutral” rating for the company in a research report on Tuesday, April 25th. Finally, Royal Bank Of Canada decreased their price target on Advance Auto Parts from $168.00 to $153.00 and set an “outperform” rating for the company in a research report on Thursday, May 25th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Advance Auto Parts currently has an average rating of “Hold” and an average price target of $149.94.
In related news, Director Eugene I. Lee, Jr. acquired 1,895 shares of the stock in a transaction dated Friday, May 26th. The stock was acquired at an average cost of $132.18 per share, for a total transaction of $250,481.10. Following the completion of the purchase, the director now owns 4,398 shares of the company’s stock, valued at approximately $581,327.64. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey C. Smith acquired 350,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were bought at an average price of $134.29 per share, with a total value of $47,001,500.00. Following the completion of the purchase, the director now directly owns 1,273 shares of the company’s stock, valued at approximately $170,951.17. The disclosure for this purchase can be found here. Insiders have bought 369,462 shares of company stock valued at $49,617,073 over the last quarter. 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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