Advance Auto Parts, Inc. (AAP) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 42.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,320 shares of the company’s stock after buying an additional 32,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.15% of Advance Auto Parts worth $18,234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AAP. Trexquant Investment LP raised its holdings in Advance Auto Parts by 28.3% during the 3rd quarter. Trexquant Investment LP now owns 27,878 shares of the company’s stock valued at $4,693,000 after acquiring an additional 6,156 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Advance Auto Parts by 65.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,207 shares of the company’s stock valued at $3,906,000 after acquiring an additional 9,142 shares during the period. Rafferty Asset Management LLC bought a new stake in Advance Auto Parts during the 3rd quarter valued at $3,015,000. FIL Ltd raised its holdings in Advance Auto Parts by 8.6% during the 3rd quarter. FIL Ltd now owns 649,178 shares of the company’s stock valued at $109,276,000 after acquiring an additional 51,518 shares during the period. Finally, American International Group Inc. raised its holdings in Advance Auto Parts by 6.5% during the 3rd quarter. American International Group Inc. now owns 28,491 shares of the company’s stock valued at $4,796,000 after acquiring an additional 1,739 shares during the period. Hedge funds and other institutional investors own 97.62% of the company’s stock.

In related news, Director Fiona P. Dias sold 1,048 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $177.54, for a total value of $186,061.92. Following the completion of the transaction, the director now directly owns 11,693 shares in the company, valued at $2,075,975.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by insiders.

Several research analysts have recently weighed in on the stock. Deutsche Bank set a $205.00 price target on shares of Advance Auto Parts and gave the stock a “buy” rating in a report on Wednesday, November 14th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Advance Auto Parts in a report on Tuesday, October 16th. Morgan Stanley upped their price target on shares of Advance Auto Parts from $170.00 to $195.00 and gave the stock an “overweight” rating in a report on Thursday, October 11th. JPMorgan Chase & Co. upped their price target on shares of Advance Auto Parts from $220.00 to $222.00 and gave the stock an “overweight” rating in a report on Wednesday, November 14th. Finally, Zacks Investment Research raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $199.00 price target on the stock in a report on Tuesday, November 20th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $178.71.

Shares of NYSE:AAP opened at $177.71 on Friday. Advance Auto Parts, Inc. has a 52-week low of $93.40 and a 52-week high of $186.15. The firm has a market capitalization of $12.95 billion, a P/E ratio of 26.41, a P/E/G ratio of 2.07 and a beta of 1.04. The company has a quick ratio of 0.49, a current ratio of 1.62 and a debt-to-equity ratio of 0.29.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, November 13th. The company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.14. Advance Auto Parts had a net margin of 5.83% and a return on equity of 13.99%. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the business earned $1.43 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts predict that Advance Auto Parts, Inc. will post 7.09 EPS for the current year.

Advance Auto Parts declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 14th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the company to purchase up to 5.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 21st will be given a $0.06 dividend. The ex-dividend date is Thursday, December 20th. This represents a $0.24 annualized dividend and a yield of 0.14%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.47%.

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Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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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