Pictet Asset Management Ltd. lowered its stake in Advance Auto Parts Inc (NYSE:AAP) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,444 shares of the company’s stock after selling 400 shares during the period. Pictet Asset Management Ltd. owned approximately 0.06% of Advance Auto Parts worth $5,538,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Cleararc Capital Inc. increased its stake in Advance Auto Parts by 0.4% in the first quarter. Cleararc Capital Inc. now owns 1,802 shares of the company’s stock valued at $267,000 after buying an additional 7 shares in the last quarter. IFP Advisors Inc increased its stake in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock valued at $114,000 after buying an additional 24 shares in the last quarter. Strs Ohio increased its stake in Advance Auto Parts by 0.7% in the first quarter. Strs Ohio now owns 3,955 shares of the company’s stock valued at $586,000 after buying an additional 28 shares in the last quarter. Pacer Advisors Inc. increased its stake in Advance Auto Parts by 3.0% in the first quarter. Pacer Advisors Inc. now owns 1,517 shares of the company’s stock valued at $225,000 after buying an additional 44 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Advance Auto Parts by 3.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,964 shares of the company’s stock valued at $272,000 after buying an additional 61 shares in the last quarter.
Advance Auto Parts Inc (NYSE:AAP) opened at 92.85 on Friday. The stock’s 50 day moving average price is $105.73 and its 200-day moving average price is $135.79. Advance Auto Parts Inc has a 52 week low of $82.21 and a 52 week high of $177.83. The company has a market capitalization of $6.86 billion, a PE ratio of 18.54 and a beta of 0.87.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.65 by $0.07. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 EPS. On average, equities research analysts predict that Advance Auto Parts Inc will post $5.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date is Thursday, September 21st. Advance Auto Parts’s payout ratio is currently 4.80%.
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AAP has been the topic of several research analyst reports. Barclays PLC reaffirmed a “sell” rating and issued a $120.00 price target on shares of Advance Auto Parts in a report on Friday, May 26th. Royal Bank Of Canada decreased their price target on shares of Advance Auto Parts from $168.00 to $153.00 and set an “outperform” rating on the stock in a report on Thursday, May 25th. UBS AG reaffirmed a “buy” rating and issued a $180.00 price target (down previously from $200.00) on shares of Advance Auto Parts in a report on Wednesday, May 17th. Bank of America Corporation decreased their price target on shares of Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating on the stock in a report on Thursday, May 25th. Finally, Jefferies Group LLC upped their price target on shares of Advance Auto Parts to $150.00 and gave the stock a “hold” rating in a report on Wednesday, June 28th. Five analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $126.68.
In other Advance Auto Parts news, Director Adriana Karaboutis bought 367 shares of Advance Auto Parts stock in a transaction dated Friday, June 2nd. The shares were purchased at an average cost of $135.28 per share, for a total transaction of $49,647.76. Following the acquisition, the director now directly owns 3,043 shares in the company, valued at approximately $411,657.04. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey C. Smith bought 350,000 shares of Advance Auto Parts stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average price of $134.29 per share, for a total transaction of $47,001,500.00. Following the completion of the acquisition, the director now owns 1,273 shares in the company, valued at $170,951.17. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 369,462 shares of company stock worth $49,617,073. Insiders own 4.50% of the company’s stock.
About Advance Auto Parts
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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