Advance Auto Parts Inc (NYSE:AAP) Stake Decreased by Pioneer Investment Management Inc.

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Pioneer Investment Management Inc. cut its stake in Advance Auto Parts Inc (NYSE:AAP) by 72.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 85,863 shares of the company’s stock after selling 229,840 shares during the period. Pioneer Investment Management Inc. owned 0.12% of Advance Auto Parts worth $10,011,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its stake 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 valued at $114,000 after buying an additional 24 shares during the period. Huntington National Bank boosted its stake 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 valued at $122,000 after buying an additional 283 shares during the period. Van ECK Associates Corp boosted its stake 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 valued at $143,000 after buying an additional 67 shares during the period. Global X Management Co. LLC boosted its stake 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 valued at $144,000 after buying an additional 218 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Advance Auto Parts during the first quarter valued at approximately $148,000.

Advance Auto Parts Inc (NYSE: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. The stock has a 50 day moving average price of $108.57 and a 200-day moving average price 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 issued its earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by $0.60. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last 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. Equities analysts predict that Advance Auto Parts Inc will post $6.37 earnings per share for the current year.

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Several analysts have recently commented on AAP shares. UBS AG reaffirmed a “buy” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advance Auto Parts in a research report on Wednesday, May 17th. Gabelli raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Thursday, April 20th. Deutsche Bank AG reduced their price objective on Advance Auto Parts from $192.00 to $164.00 and set a “buy” rating for the company in a research report on Thursday, May 25th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Advance Auto Parts in a research report on Wednesday, May 31st. Finally, Credit Suisse Group set a $150.00 price objective on Advance Auto Parts and gave the company a “buy” rating in a research report on Monday, June 26th. Five research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $149.06.

In related news, insider Thomas Greco acquired 16,000 shares of the business’s stock in a transaction on Friday, May 26th. The stock was purchased at an average cost of $134.63 per share, for a total transaction of $2,154,080.00. Following the completion of the transaction, the insider now directly owns 111,030 shares of the company’s stock, valued at approximately $14,947,968.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eugene I. Lee, Jr. acquired 1,895 shares of the business’s stock in a transaction on Friday, May 26th. The shares were bought at an average price of $132.18 per share, with a total value of $250,481.10. Following the completion of the transaction, the director now directly owns 4,398 shares of the company’s stock, valued at $581,327.64. 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 quarter. 4.50% of the stock is currently owned by company insiders.

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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