Bank of Hawaii Lowers Stake in Advance Auto Parts Inc (AAP)

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Bank of Hawaii lessened its holdings in Advance Auto Parts Inc (NYSE:AAP) by 28.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,137 shares of the company’s stock after selling 2,447 shares during the period. Bank of Hawaii’s holdings in Advance Auto Parts were worth $716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AAP. BlackRock Inc. lifted its position in shares of Advance Auto Parts by 3,142.5% in the 1st quarter. BlackRock Inc. now owns 4,320,280 shares of the company’s stock worth $640,524,000 after purchasing an additional 4,187,042 shares during the period. Lazard Asset Management LLC lifted its position in shares of Advance Auto Parts by 45.7% in the 1st quarter. Lazard Asset Management LLC now owns 3,135,361 shares of the company’s stock worth $464,848,000 after purchasing an additional 983,616 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Advance Auto Parts by 6,616.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 903,258 shares of the company’s stock worth $105,311,000 after purchasing an additional 889,809 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in shares of Advance Auto Parts by 279.6% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,147,414 shares of the company’s stock worth $133,777,000 after purchasing an additional 845,130 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Advance Auto Parts by 193.0% in the 2nd quarter. Bessemer Group Inc. now owns 1,207,206 shares of the company’s stock worth $140,748,000 after purchasing an additional 795,132 shares during the period.

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Several brokerages have recently weighed in on AAP. Bank of America Corporation reaffirmed an “underperform” rating and issued a $87.50 price target on shares of Advance Auto Parts in a research report on Tuesday, September 5th. Royal Bank Of Canada lowered their price target on shares of Advance Auto Parts from $153.00 to $125.00 and set a “sector perform” rating for the company in a research report on Thursday, July 6th. Wedbush reissued an “outperform” rating on shares of Advance Auto Parts in a research report on Thursday, July 6th. Credit Suisse Group set a $100.00 target price on shares of Advance Auto Parts and gave the company a “buy” rating in a research report on Wednesday, August 16th. Finally, Morgan Stanley reissued an “overweight” rating and set a $125.00 target price (down previously from $160.00) on shares of Advance Auto Parts in a research report on Thursday, July 6th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $123.08.

Shares of Advance Auto Parts Inc (NYSE:AAP) traded up 0.14% on Wednesday, reaching $97.73. 378,932 shares of the company’s stock were exchanged. The firm has a market capitalization of $7.19 billion, a P/E ratio of 15.76 and a beta of 0.90. Advance Auto Parts Inc has a one year low of $82.21 and a one year high of $177.83. The firm has a 50 day moving average of $99.61 and a 200 day moving average of $125.12.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.07). The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 EPS. On average, equities research analysts predict that Advance Auto Parts Inc will post $5.16 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. Advance Auto Parts’s dividend payout ratio is presently 4.80%.

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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