Advisors Asset Management Inc. Lowers Position in Advance Auto Parts, Inc. (NYSE:AAP)

Advisors Asset Management Inc. cut its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 8.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,231 shares of the company’s stock after selling 592 shares during the period. Advisors Asset Management Inc.’s holdings in Advance Auto Parts were worth $888,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Louisiana State Employees Retirement System lifted its holdings in Advance Auto Parts by 3.4% in the second quarter. Louisiana State Employees Retirement System now owns 3,000 shares of the company’s stock worth $427,000 after buying an additional 100 shares during the period. CIBC Asset Management Inc lifted its holdings in Advance Auto Parts by 1.6% in the second quarter. CIBC Asset Management Inc now owns 6,593 shares of the company’s stock worth $939,000 after buying an additional 102 shares during the period. Trust Co. of Vermont lifted its holdings in Advance Auto Parts by 4.1% in the second quarter. Trust Co. of Vermont now owns 2,665 shares of the company’s stock worth $380,000 after buying an additional 105 shares during the period. Mackay Shields LLC lifted its holdings in Advance Auto Parts by 1.1% in the second quarter. Mackay Shields LLC now owns 11,109 shares of the company’s stock worth $1,583,000 after buying an additional 116 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in shares of Advance Auto Parts by 1.3% during the first quarter. Mutual of America Capital Management LLC now owns 9,430 shares of the company’s stock valued at $880,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

A number of brokerages have weighed in on AAP. Royal Bank of Canada raised their target price on shares of Advance Auto Parts from $155.00 to $170.00 in a research note on Thursday, August 13th. Nomura Instinet raised their target price on shares of Advance Auto Parts from $107.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Nomura raised their target price on shares of Advance Auto Parts from $107.00 to $130.00 in a research note on Wednesday, May 20th. Guggenheim raised their target price on shares of Advance Auto Parts from $158.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Atlantic Securities downgraded shares of Advance Auto Parts from a “neutral” rating to an “underweight” rating and set a $118.00 target price for the company. in a research note on Monday, June 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $152.29.

NYSE:AAP opened at $158.10 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.46 and a debt-to-equity ratio of 0.33. Advance Auto Parts, Inc. has a 12 month low of $71.33 and a 12 month high of $171.43. The company has a market cap of $10.81 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.82 and a beta of 1.35. The company has a 50 day simple moving average of $151.96 and a two-hundred day simple moving average of $131.66.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 18th. The company reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.95. Advance Auto Parts had a net margin of 4.71% and a return on equity of 14.78%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the firm posted $2.00 EPS. The firm’s revenue was up 7.3% on a year-over-year basis. Research analysts forecast that Advance Auto Parts, Inc. will post 7.98 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, September 17th. Advance Auto Parts’s dividend payout ratio is presently 12.21%.

About Advance Auto Parts

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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