Fmr LLC Boosts Stake in Advance Auto Parts Inc (AAP)

FMR LLC boosted its stake in Advance Auto Parts Inc (NYSE:AAP) by 40.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 347,642 shares of the company’s stock after buying an additional 100,708 shares during the quarter. FMR LLC owned approximately 0.47% of Advance Auto Parts worth $40,533,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AAP. Global X Management Co. LLC increased its stake in shares of Advance Auto Parts by 28.9% during the 1st quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock worth $144,000 after purchasing an additional 218 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Advance Auto Parts during the 1st quarter worth $148,000. Tobam acquired a new position in shares of Advance Auto Parts during the 2nd quarter worth $118,000. Huntington National Bank increased its stake in shares of Advance Auto Parts by 37.1% during the 2nd quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after purchasing an additional 283 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Advance Auto Parts by 57.5% during the 2nd quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock worth $141,000 after purchasing an additional 441 shares during the last quarter.

Advance Auto Parts Inc (NYSE AAP) opened at 81.93 on Friday. Advance Auto Parts Inc has a 12-month low of $81.81 and a 12-month high of $177.83. The company has a market capitalization of $6.05 billion, a P/E ratio of 16.36 and a beta of 0.92. The stock’s 50 day moving average is $93.36 and its 200-day moving average is $114.45.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.07). Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company posted $1.90 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, equities analysts predict that Advance Auto Parts Inc will post $5.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.80%.

Several research analysts have recently commented on AAP shares. Raymond James Financial, Inc. restated a “market perform” rating on shares of Advance Auto Parts in a research note on Wednesday, October 4th. Morgan Stanley restated an “overweight” rating and set a $125.00 price target (down previously from $160.00) on shares of Advance Auto Parts in a research note on Thursday, July 6th. Bank of America Corporation lowered shares of Advance Auto Parts from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $150.00 to $90.00 in a research note on Friday, July 7th. Deutsche Bank AG restated a “buy” rating and set a $139.00 price target (down previously from $164.00) on shares of Advance Auto Parts in a research note on Friday, July 21st. Finally, Credit Suisse Group set a $100.00 target price on shares of Advance Auto Parts and gave the company a “buy” rating in a research note on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $117.91.

TRADEMARK VIOLATION WARNING: This report was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this report can be read at https://www.dispatchtribunal.com/2017/10/28/advance-auto-parts-inc-aap-holdings-boosted-by-fmr-llc.html.

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.

Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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 MarketBeat.com's FREE daily email newsletter.

Leave a Reply