State of Wisconsin Investment Board Increases Stake in Advance Auto Parts Inc (AAP)
State of Wisconsin Investment Board boosted its position in Advance Auto Parts Inc (NYSE:AAP) by 31.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,807 shares of the company’s stock after buying an additional 15,210 shares during the period. State of Wisconsin Investment Board owned about 0.09% of Advance Auto Parts worth $7,439,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Advance Auto Parts by 3,142.5% in the first quarter. BlackRock Inc. now owns 4,320,280 shares of the company’s stock worth $640,524,000 after buying an additional 4,187,042 shares in the last quarter. Lazard Asset Management LLC increased its stake in Advance Auto Parts by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,135,361 shares of the company’s stock worth $464,848,000 after buying an additional 983,616 shares in the last quarter. Bessemer Group Inc. increased its stake in Advance Auto Parts by 193.0% in the second quarter. Bessemer Group Inc. now owns 1,207,206 shares of the company’s stock worth $140,748,000 after buying an additional 795,132 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Advance Auto Parts by 51.2% in the first quarter. Point72 Asset Management L.P. now owns 1,538,878 shares of the company’s stock worth $228,154,000 after buying an additional 521,078 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Advance Auto Parts during the first quarter worth approximately $66,089,000.
Advance Auto Parts Inc (NYSE AAP) opened at 95.80 on Monday. The company’s 50 day moving average price is $102.99 and its 200 day moving average price is $132.88. Advance Auto Parts Inc has a 52-week low of $82.21 and a 52-week high of $177.83. The firm has a market cap of $7.07 billion, a PE ratio of 19.13 and a beta of 0.87.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the company earned $1.90 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. Analysts predict that Advance Auto Parts Inc will post $5.17 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Thursday, September 21st. Advance Auto Parts’s dividend payout ratio is currently 4.80%.
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A number of analysts have recently commented on AAP shares. Bank of America Corporation dropped their price objective on Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating on the stock in a research note on Thursday, May 25th. Morgan Stanley reissued an “overweight” rating and issued a $160.00 price objective (down previously from $185.00) on shares of Advance Auto Parts in a research note on Sunday, May 28th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday, May 31st. BTIG Research reissued a “sell” rating and issued a $109.00 price objective (down previously from $120.00) on shares of Advance Auto Parts in a research note on Thursday, June 22nd. Finally, Royal Bank Of Canada dropped their price objective on Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $126.68.
In related news, Director Adriana Karaboutis bought 367 shares of Advance Auto Parts stock in a transaction dated Friday, June 2nd. The stock was purchased at an average cost of $135.28 per share, with a total value of $49,647.76. Following the transaction, the director now directly owns 3,043 shares of the company’s stock, valued at $411,657.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey C. Smith bought 350,000 shares of Advance Auto Parts stock in a transaction dated Tuesday, May 30th. The shares were bought at an average cost of $134.29 per share, with a total value of $47,001,500.00. Following the completion of the transaction, the director now directly owns 1,273 shares in the company, valued at $170,951.17. The disclosure for this purchase can be found here. Insiders have bought a total of 351,567 shares of company stock valued at $47,212,512 over the last three months. Insiders own 4.10% of the company’s stock.
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.
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