Stoneridge Investment Partners LLC boosted its position in shares of Advance Auto Parts Inc (NYSE:AAP) by 30.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,301 shares of the company’s stock after buying an additional 8,615 shares during the period. Stoneridge Investment Partners LLC owned approximately 0.05% of Advance Auto Parts worth $4,349,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in AAP. Marshall Wace North America L.P. purchased a new position in shares of Advance Auto Parts during the first quarter worth approximately $2,028,000. BKD Wealth Advisors LLC boosted its stake in Advance Auto Parts by 47.1% in the second quarter. BKD Wealth Advisors LLC now owns 2,968 shares of the company’s stock valued at $346,000 after buying an additional 951 shares in the last quarter. Stevens Capital Management LP boosted its stake in Advance Auto Parts by 7.2% in the first quarter. Stevens Capital Management LP now owns 2,819 shares of the company’s stock valued at $418,000 after buying an additional 190 shares in the last quarter. Strs Ohio boosted 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. Finally, Morgan Stanley boosted its stake in Advance Auto Parts by 98.8% in the first quarter. Morgan Stanley now owns 394,710 shares of the company’s stock valued at $58,518,000 after buying an additional 196,158 shares in the last quarter.
Advance Auto Parts Inc (AAP) traded up 0.44% on Friday, hitting $93.26. The stock had a trading volume of 3,073,777 shares. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 18.62 and a beta of 0.87. The company’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 one year low of $82.21 and a one year high of $177.83.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by $0.07. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 earnings per share. Analysts expect that Advance Auto Parts Inc will post $5.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. Advance Auto Parts’s payout ratio is 4.80%.
Several equities research analysts recently commented on AAP shares. Zacks Investment Research cut Advance Auto Parts from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $139.00 price target (down previously from $164.00) on shares of Advance Auto Parts in a report on Friday, July 21st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $135.00 price target (down previously from $150.00) on shares of Advance Auto Parts in a report on Monday, July 17th. Wedbush reaffirmed an “outperform” rating on shares of Advance Auto Parts in a report on Thursday, July 6th. Finally, BidaskClub raised Advance Auto Parts from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $126.68.
In other news, Director Jeffrey C. Smith acquired 350,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average cost of $134.29 per share, for a total transaction of $47,001,500.00. Following the acquisition, the director now directly owns 1,273 shares in the company, valued at approximately $170,951.17. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adriana Karaboutis acquired 367 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were purchased at an average price of $135.28 per share, with a total value of $49,647.76. Following the completion of the acquisition, the director now owns 3,043 shares in the company, valued at $411,657.04. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 369,462 shares of company stock valued at $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.
Receive News & Ratings for Advance Auto Parts Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts Inc and related companies with our FREE daily email newsletter.