BTIM Corp. lowered its position in Advance Auto Parts Inc (NYSE:AAP) by 31.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,471 shares of the company’s stock after selling 47,185 shares during the period. BTIM Corp. owned about 0.14% of Advance Auto Parts worth $12,064,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of AAP. BlackRock Inc. raised its stake in Advance Auto Parts by 3,142.5% in the first quarter. BlackRock Inc. now owns 4,320,280 shares of the company’s stock worth $640,524,000 after buying an additional 4,187,042 shares during the period. Lazard Asset Management LLC increased its position 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 worth $464,848,000 after buying an additional 983,616 shares in the last quarter. Point72 Asset Management L.P. increased its position 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 worth $228,154,000 after buying an additional 521,078 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of Advance Auto Parts during the first quarter worth about $66,089,000. Finally, Causeway Capital Management LLC increased its position in shares of Advance Auto Parts by 44.4% in the first quarter. Causeway Capital Management LLC now owns 1,415,672 shares of the company’s stock worth $240,970,000 after buying an additional 435,424 shares in the last quarter.
Shares of Advance Auto Parts Inc (NYSE AAP) traded up 5.09% during mid-day trading on Wednesday, hitting $91.51. The stock had a trading volume of 6,530,756 shares. The stock’s 50-day moving average price is $106.41 and its 200-day moving average price is $136.10. Advance Auto Parts Inc has a 52-week low of $82.21 and a 52-week high of $177.83. The firm has a market cap of $6.75 billion, a PE ratio of 16.58 and a beta of 0.87. Advance Auto Parts also was the target of unusually large options trading activity on Monday. Traders bought 13,082 call options on the company. This is an increase of approximately 943% compared to the average daily volume of 1,254 call options.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by $0.07. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the firm posted $1.90 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts anticipate that Advance Auto Parts Inc will post $6.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, September 21st. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.36%.
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A number of research analysts have recently issued reports on the company. UBS AG reissued a “buy” rating and issued a $180.00 price objective (down from $200.00) on shares of Advance Auto Parts in a research note on Wednesday, May 17th. Barclays PLC reissued an “underweight” rating and issued a $90.00 price objective (down from $93.00) on shares of Advance Auto Parts in a research note on Wednesday. Gabelli reissued a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday. Citigroup Inc. dropped their price objective on Advance Auto Parts to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Royal Bank Of Canada dropped their price objective on Advance Auto Parts from $125.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $131.21.
In other Advance Auto Parts news, Director Adriana Karaboutis acquired 367 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was purchased at an average price of $135.28 per share, with a total value of $49,647.76. Following the transaction, the director now directly owns 3,043 shares in the company, valued at approximately $411,657.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Greco bought 16,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $134.63 per share, with a total value of $2,154,080.00. Following the acquisition, the insider now directly owns 111,030 shares in the company, valued at approximately $14,947,968.90. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 369,462 shares of company stock valued at $49,617,073. 4.50% of the stock is currently owned by insiders.
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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