LS Investment Advisors LLC increased its position in Advance Auto Parts Inc (NYSE:AAP) by 13.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,211 shares of the company’s stock after buying an additional 390 shares during the period. LS Investment Advisors LLC’s holdings in Advance Auto Parts were worth $374,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position 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 in the last quarter. Lazard Asset Management LLC boosted its position in 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. boosted its position in 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 bought a new position in Advance Auto Parts during the first quarter worth about $66,089,000. Finally, Causeway Capital Management LLC boosted its position in 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.
Advance Auto Parts Inc (NYSE:AAP) traded up 0.44% during midday trading on Friday, hitting $93.26. 3,073,777 shares of the stock traded hands. The stock’s 50-day moving average price is $105.08 and its 200 day moving average price is $135.28. 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 $6.89 billion, a price-to-earnings ratio of 18.62 and a beta of 0.87.
Advance Auto Parts (NYSE:AAP) last issued its 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. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that Advance Auto Parts Inc will post $5.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Thursday, September 21st. Advance Auto Parts’s payout ratio is 4.80%.
AAP has been the subject of a number of research analyst reports. Bank of America Corporation lowered their price objective on shares of Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a research report on Thursday, May 25th. Morgan Stanley reiterated an “overweight” rating and set a $160.00 price objective (down from $185.00) on shares of Advance Auto Parts in a research report on Sunday, May 28th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Advance Auto Parts in a research report on Wednesday, May 31st. BTIG Research reiterated a “sell” rating and set a $109.00 price objective (down from $120.00) on shares of Advance Auto Parts in a research report on Thursday, June 22nd. Finally, Zacks Investment Research cut shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $126.68.
In related news, insider Thomas Greco acquired 16,000 shares of Advance Auto Parts stock in a transaction on Friday, May 26th. The shares were acquired at an average cost of $134.63 per share, with a total value of $2,154,080.00. Following the transaction, the insider now owns 111,030 shares in the company, valued at $14,947,968.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eugene I. Lee, Jr. acquired 1,895 shares of Advance Auto Parts stock in a transaction on Friday, May 26th. The shares were bought at an average cost of $132.18 per share, for a total transaction of $250,481.10. Following the completion of the transaction, the director now owns 4,398 shares in the company, valued at approximately $581,327.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 369,462 shares of company stock worth $49,617,073. 4.50% of the stock is 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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