Vanguard Group Inc. Raises Stake in Advance Auto Parts Inc (AAP)

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Vanguard Group Inc. lifted its position in Advance Auto Parts Inc (NYSE:AAP) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,966,176 shares of the company’s stock after acquiring an additional 185,970 shares during the quarter. Vanguard Group Inc. owned 9.44% of Advance Auto Parts worth $812,186,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AAP. BlackRock Inc. grew 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 acquiring an additional 4,187,042 shares in the last quarter. Lazard Asset Management LLC grew 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 acquiring an additional 983,616 shares in the last quarter. Neuberger Berman Group LLC grew 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 acquiring an additional 889,809 shares in the last quarter. Thompson Siegel & Walmsley LLC grew 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 acquiring an additional 845,130 shares in the last quarter. Finally, Bessemer Group Inc. grew 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 acquiring an additional 795,132 shares in the last quarter.

Several brokerages have recently commented on AAP. BidaskClub lowered Advance Auto Parts from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Cleveland Research lowered Advance Auto Parts from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 28th. Jefferies Group LLC lifted their target price on Advance Auto Parts to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, June 28th. Credit Suisse Group set a $150.00 target price on Advance Auto Parts and gave the stock a “buy” rating in a research report on Monday, June 26th. Finally, BTIG Research reiterated a “sell” rating and issued a $109.00 target price (down previously from $120.00) on shares of Advance Auto Parts in a research report on Thursday, June 22nd. Five analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $123.08.

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Advance Auto Parts Inc (AAP) opened at 99.50 on Friday. The firm’s 50-day moving average price is $99.61 and its 200-day moving average price is $125.12. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 16.05 and a beta of 0.90. Advance Auto Parts Inc has a 12 month low of $82.21 and a 12 month high of $177.83.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.24%. Advance Auto Parts’s payout ratio is 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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