Advance Auto Parts Inc (AAP) Position Reduced by Pioneer Investment Management Inc.

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Pioneer Investment Management Inc. reduced its position in shares of Advance Auto Parts Inc (NYSE:AAP) by 72.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 85,863 shares of the company’s stock after selling 229,840 shares during the period. Pioneer Investment Management Inc.’s holdings in Advance Auto Parts were worth $10,011,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AAP. IFP Advisors Inc boosted its position in shares of Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares during the period. Huntington National Bank boosted its position in shares of Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after buying an additional 283 shares during the period. Van ECK Associates Corp boosted its position in shares of Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock worth $143,000 after buying an additional 67 shares during the period. Global X Management Co. LLC boosted its position in shares of Advance Auto Parts by 28.9% in the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock worth $144,000 after buying an additional 218 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Advance Auto Parts during the first quarter worth about $148,000.

Shares of Advance Auto Parts Inc (NYSE AAP) opened at 107.34 on Friday. The company has a market capitalization of $7.92 billion, a P/E ratio of 19.45 and a beta of 0.87. The firm has a 50-day moving average of $108.57 and a 200 day moving average of $137.82. Advance Auto Parts Inc has a 1-year low of $99.13 and a 1-year high of $177.83.

Advance Auto Parts (NYSE:AAP) last posted its 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. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the business posted $2.51 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts expect that Advance Auto Parts Inc will post $6.37 earnings per share for the current year.

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A number of brokerages recently issued reports on AAP. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Advance Auto Parts in a research note on Wednesday, May 24th. Royal Bank Of Canada decreased their price objective on shares of Advance Auto Parts from $153.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 6th. Wedbush reissued an “outperform” rating on shares of Advance Auto Parts in a research note on Thursday, July 6th. UBS AG reissued a “buy” rating and issued a $170.00 price objective (down from $180.00) on shares of Advance Auto Parts in a research note on Thursday, May 25th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $125.00 price objective (down from $160.00) on shares of Advance Auto Parts in a research note on Thursday, July 6th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Advance Auto Parts has a consensus rating of “Hold” and a consensus target price of $149.06.

In related news, Director Eugene I. Lee, Jr. bought 1,895 shares of the company’s stock in a transaction dated 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 owns 4,398 shares in the company, valued at approximately $581,327.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Adriana Karaboutis bought 367 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was bought at an average cost of $135.28 per share, with a total value of $49,647.76. Following the completion of the transaction, the director now owns 3,043 shares in the company, valued at approximately $411,657.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 369,462 shares of company stock valued at $49,617,073. Corporate insiders own 4.50% 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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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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