Millennium Management LLC Buys 324,115 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Millennium Management LLC raised its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 71.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 780,735 shares of the company’s stock after purchasing an additional 324,115 shares during the quarter. Millennium Management LLC owned approximately 1.06% of Advance Auto Parts worth $77,831,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. boosted its stake in Advance Auto Parts by 71.6% in the 4th quarter. Assetmark Inc. now owns 1,488 shares of the company’s stock worth $148,000 after purchasing an additional 621 shares in the last quarter. Advisor Partners LLC bought a new position in shares of Advance Auto Parts in the 4th quarter worth approximately $208,000. FDx Advisors Inc. bought a new position in shares of Advance Auto Parts in the 3rd quarter worth approximately $201,000. Quantitative Systematic Strategies LLC bought a new position in shares of Advance Auto Parts in the 4th quarter worth approximately $207,000. Finally, IFM Investors Pty Ltd bought a new position in shares of Advance Auto Parts in the 4th quarter worth approximately $207,000.

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In other news, Director John C. Brouillard sold 1,745 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $116.08, for a total value of $202,559.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Greco acquired 8,640 shares of the business’s stock in a transaction dated Wednesday, March 21st. The stock was acquired at an average price of $115.77 per share, with a total value of $1,000,252.80. Following the completion of the transaction, the insider now directly owns 135,081 shares of the company’s stock, valued at $15,638,327.37. The disclosure for this purchase can be found here. Insiders own 4.10% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Barclays reiterated an “equal weight” rating and issued a $114.00 price objective (up previously from $105.00) on shares of Advance Auto Parts in a research note on Thursday, February 22nd. Zacks Investment Research lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Stephens reiterated a “hold” rating and set a $113.00 target price (up from $58.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Wedbush restated a “buy” rating and issued a $130.00 price target (up from $115.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Finally, Morgan Stanley set a $120.00 price target on Advance Auto Parts and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Advance Auto Parts currently has an average rating of “Hold” and an average target price of $112.14.

Shares of Advance Auto Parts stock traded down $4.48 on Friday, reaching $111.91. 1,291,175 shares of the stock were exchanged, compared to its average volume of 943,067. The company has a quick ratio of 0.36, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. Advance Auto Parts, Inc. has a twelve month low of $78.81 and a twelve month high of $151.72. The company has a market capitalization of $8,278.88, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.12. Advance Auto Parts had a return on equity of 12.45% and a net margin of 5.07%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the company posted $1.00 earnings per share. Advance Auto Parts’s revenue for the quarter was down 2.2% on a year-over-year basis. research analysts anticipate that Advance Auto Parts, Inc. will post 6.7 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Friday, March 23rd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, March 22nd. Advance Auto Parts’s payout ratio is presently 4.47%.

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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.

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

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