Dixon Hubard Feinour & Brown Inc. VA lowered its position in shares of Advance Auto Parts Inc (NYSE:AAP) by 20.4% during the second quarter, Holdings Channel reports. The institutional investor owned 3,416 shares of the company’s stock after selling 878 shares during the period. Dixon Hubard Feinour & Brown Inc. VA’s holdings in Advance Auto Parts were worth $398,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of AAP. BlackRock Inc. increased its position 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 position 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. Point72 Asset Management L.P. increased its position 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. MARSHALL WACE ASIA Ltd bought a new position in Advance Auto Parts during the first quarter worth approximately $66,089,000. Finally, Causeway Capital Management LLC increased its position in Advance Auto Parts by 44.4% in the first quarter. Causeway Capital Management LLC now owns 1,415,672 shares of the company’s stock worth $240,970,000 after buying an additional 435,424 shares in the last quarter.
Shares of Advance Auto Parts Inc (AAP) traded down 0.29% during trading on Monday, reaching $101.74. The company had a trading volume of 1,647,627 shares. The firm has a market capitalization of $7.51 billion, a PE ratio of 18.43 and a beta of 0.89. Advance Auto Parts Inc has a 12 month low of $99.13 and a 12 month high of $177.83. The stock has a 50 day moving average price of $132.91 and a 200 day moving average price of $151.47.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Wednesday, May 24th. The company reported $1.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by $0.60. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the business posted $2.51 EPS. Advance Auto Parts’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Advance Auto Parts Inc will post $6.49 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 23rd were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.24%. The ex-dividend date was Wednesday, June 21st. Advance Auto Parts’s dividend payout ratio is 4.36%.
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AAP has been the subject of a number of research analyst reports. Bank of America Corporation dropped their price objective on shares of Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a research note on Thursday, May 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $160.00 price objective (down previously from $185.00) on shares of Advance Auto Parts in a research note on Sunday, May 28th. Gabelli raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Thursday, April 20th. BTIG Research reissued a “sell” rating and set a $120.00 target price on shares of Advance Auto Parts in a research report on Tuesday, March 28th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Advance Auto Parts in a research report on Wednesday, May 31st. Five analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $151.41.
In related news, Director Adriana Karaboutis purchased 367 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were acquired at an average price of $135.28 per share, with a total value of $49,647.76. Following the purchase, the director now directly owns 3,043 shares in the company, valued at $411,657.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 1,895 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average cost of $132.18 per share, for a total transaction of $250,481.10. Following the purchase, the director now owns 4,398 shares in the company, valued at $581,327.64. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 369,462 shares of company stock worth $49,617,073. 4.50% of the stock is owned by insiders.
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.
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