Public Employees Retirement Association of Colorado Reduces Position in Advance Auto Parts Inc (NYSE:AAP)

Public Employees Retirement Association of Colorado decreased its position in shares of Advance Auto Parts Inc (NYSE:AAP) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,388 shares of the company’s stock after selling 9 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Advance Auto Parts were worth $1,677,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Advance Auto Parts by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,780,206 shares of the company’s stock worth $1,005,233,000 after buying an additional 212,632 shares during the last quarter. BlackRock Inc. raised its stake in shares of 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 during the last quarter. Lazard Asset Management LLC raised its stake in shares of 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 during the last quarter. American Century Companies Inc. raised its stake in shares of Advance Auto Parts by 19.2% in the first quarter. American Century Companies Inc. now owns 1,589,566 shares of the company’s stock worth $235,669,000 after buying an additional 255,548 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of 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 during the last quarter.

Shares of Advance Auto Parts Inc (AAP) opened at 107.34 on Friday. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 19.45 and a beta of 0.87. Advance Auto Parts Inc has a 52 week low of $99.13 and a 52 week high of $177.83. The stock has a 50 day moving average of $108.57 and a 200-day moving average of $137.82.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Wednesday, May 24th. The company reported $1.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by $0.60. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.51 earnings per share. On average, analysts anticipate that Advance Auto Parts Inc will post $6.37 EPS for the current year.

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A number of brokerages recently issued reports on AAP. Barclays PLC reissued a “sell” rating and set a $120.00 price target on shares of Advance Auto Parts in a research report on Friday, May 26th. Royal Bank Of Canada lowered their price target on shares of Advance Auto Parts from $168.00 to $153.00 and set an “outperform” rating for the company in a research report on Thursday, May 25th. UBS AG reissued a “buy” rating and set a $180.00 price target (down from $200.00) on shares of Advance Auto Parts in a research report on Wednesday, May 17th. Bank of America Corporation lowered their price target on shares of Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a research report on Thursday, May 25th. Finally, Jefferies Group LLC lifted their price target on shares of Advance Auto Parts to $150.00 and gave the company a “hold” rating in a research report on Wednesday, June 28th. Five analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of “Hold” and a consensus target price of $149.06.

In related news, Director Eugene I. Lee, Jr. acquired 1,895 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $132.18 per share, with a total value of $250,481.10. Following the transaction, the director now directly owns 4,398 shares of the company’s stock, valued at approximately $581,327.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Greco acquired 16,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average cost of $134.63 per share, with a total value of $2,154,080.00. Following the completion of the transaction, the insider now directly owns 111,030 shares in the company, valued at $14,947,968.90. The disclosure for this purchase can be found here. Insiders purchased a total of 369,462 shares of company stock valued at $49,617,073 over the last ninety days. 4.50% of the stock is currently 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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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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