Trading was heavy with 1,903K shares changing hands in the last trading session. Shares saw a steep increase in trading volume of 180.39% over the normal average daily volume.
There has been some buying insider activity on Advance Auto Parts Inc Advance (NYSE:AAP) recently. Director Jeffrey C. Smith disclosed the purchase of 350,000 shares. The shares sold for $134.18. The Director now owns $148,950,400 of the stock according to the SEC filing. Eugene I. Jr Lee, Director disclosed the purchase of 1,895 shares of AAP stock. The shares were bought on May 26th for an average price of $132.18. Lee now owns $581,328 of the stock per the Form 4 SEC filing.
The following firms have also recently changed their position in AAP. As of quarter end Starboard Value Lp had acquired 350,000 shares growing its stake by 12.4%. The value in dollars went from $418,835,000 to $370,173,000 decreasing 11.6% for the reporting period. Artisan Partners Limited Partnership reduced its stake by selling 52,643 shares a decrease of 4.7% as of 06/30/2017. Artisan Partners Limited Partnership owns 1,072,507 shares with a value of $125,044,000. The total value of its holdings decreased 25.0%.
Champlain Investment Partners, LLC augmented its investment by buying 27,955 shares an increase of 4.8%. Champlain Investment Partners, LLC currently owns 609,385 shares worth $71,048,000. The value of the position overall is down by 17.6%. As of the end of the quarter Dimensional Fund Advisors Lp had bought a total of 11,016 shares growing its position 3.1%. The value of the company’s investment in Advance Auto Parts Inc Advance decreased from $53,049,000 to $43,000,000 a change of $10,049,000 quarter over quarter.
On July 7 the stock rating was downgraded from “” to “Buy” by Bank of America. On July 7 the company was set at “Buy” in a report from Jefferies which is up from the previous “Hold” rating.
In the market the company is trading up by 1.14% since yesterday’s close of $106.13. The company recently announced a dividend for shareholders paid on Friday July 7th, 2017. The dividend was $0.060 per share for the quarter which is $0.24 annualized. This dividend represents a yield of $0.22. The ex-dividend date was set for Wednesday the 21st of June 2017.
The stock last traded at $107.34 which is marginally lower than $108.57, the stock’s 50 day moving average and which is quite a bit below the 200 day moving average of $137.82. The 50 day moving average went down $-1.23 or -1.13% and the 200 day average went down by -22.12%.
Advance Auto Parts Inc Advance currently has a P/E ratio of 19.45 and market cap is 7.92B. In the latest earnings report the EPS was $5.52 and is expected to be $6.37 for the current year with 73,781,000 shares now outstanding. Next quarter’s EPS is expected be $1.85 and the next full year EPS is projected to be $7.66.
Advance Auto Parts, Inc., launched on August 1, 2001, provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Business’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. The Company serves its Professional and DIY customers through various channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites. As of December 31, 2016, the Company operated 5,062 total stores and 127 branches primarily under the trade names Advance Auto Parts, Autopart International, Carquest and Worldpac. As of December 31, 2016, the Business’s Advance Auto Parts operations consisted of three geographic divisions, which included the operations of the stores operating under the Advance Auto Parts, Carquest and Autopart International trade names. The Business’s e-commerce platforms, primarily consisting of its online Websites and Professional ordering platforms, are part of its integrated operating approach of serving its Professional and DIY customers. The Business’s online Websites allow its DIY customers to pick up merchandise at a store or have their purchases shipped directly to them. The majority of the Business’s online DIY sales are picked up at store locations. Through the Business’s online ordering platforms, Professional customers can place orders with a designated store location for delivery to their places of business or pick-up..