Intact Investment Management Inc. Has $655,000 Position in Advance Auto Parts, Inc. (NYSE:AAP)

Intact Investment Management Inc. lessened its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 11.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,600 shares of the company’s stock after selling 600 shares during the quarter. Intact Investment Management Inc.’s holdings in Advance Auto Parts were worth $655,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. CIBC Asset Management Inc boosted its holdings in shares of Advance Auto Parts by 1.6% in the 2nd quarter. CIBC Asset Management Inc now owns 6,593 shares of the company’s stock valued at $939,000 after purchasing an additional 102 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Advance Auto Parts by 5.8% in the 2nd quarter. Raymond James & Associates now owns 269,383 shares of the company’s stock valued at $38,374,000 after purchasing an additional 14,843 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Advance Auto Parts by 4.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,141 shares of the company’s stock valued at $1,872,000 after purchasing an additional 608 shares in the last quarter. SeaBridge Investment Advisors LLC boosted its holdings in shares of Advance Auto Parts by 3.8% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 7,231 shares of the company’s stock valued at $1,030,000 after purchasing an additional 266 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Advance Auto Parts by 1.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 18,774 shares of the company’s stock valued at $2,674,000 after purchasing an additional 300 shares in the last quarter. 96.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE AAP opened at $150.14 on Friday. Advance Auto Parts, Inc. has a twelve month low of $71.33 and a twelve month high of $171.43. The stock’s 50 day moving average price is $142.60 and its 200-day moving average price is $129.32. The company has a market capitalization of $10.37 billion, a PE ratio of 27.35, a PEG ratio of 2.20 and a beta of 1.32. The company has a quick ratio of 0.42, a current ratio of 1.36 and a debt-to-equity ratio of 0.92.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, May 19th. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.84). Advance Auto Parts had a return on equity of 13.20% and a net margin of 4.10%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the previous year, the firm earned $2.46 EPS. Advance Auto Parts’s quarterly revenue was down 8.6% on a year-over-year basis. As a group, research analysts expect that Advance Auto Parts, Inc. will post 6.45 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Saturday, June 13th were paid a $0.25 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.67%. Advance Auto Parts’s payout ratio is presently 12.21%.

A number of equities research analysts have weighed in on AAP shares. Royal Bank of Canada raised their target price on Advance Auto Parts from $136.00 to $155.00 in a report on Wednesday, May 20th. Nomura Instinet raised their price objective on Advance Auto Parts from $107.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. Wells Fargo & Co reissued a “neutral” rating on shares of Advance Auto Parts in a report on Tuesday, May 19th. Cfra lowered their target price on Advance Auto Parts from $155.00 to $135.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. Finally, UBS Group raised their target price on Advance Auto Parts from $154.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. Advance Auto Parts has a consensus rating of “Hold” and an average price target of $144.05.

In related news, CAO Andrew E. Page sold 720 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $141.38, for a total value of $101,793.60. Following the sale, the chief accounting officer now owns 7,008 shares of the company’s stock, valued at approximately $990,791.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is owned by insiders.

Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.

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

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