BT Investment Management Ltd Buys New Holdings in Advance Auto Parts Inc (AAP)

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BT Investment Management Ltd purchased a new position in shares of Advance Auto Parts Inc (NYSE:AAP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 373,922 shares of the company’s stock, valued at approximately $43,596,000. BT Investment Management Ltd owned 0.51% of Advance Auto Parts as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Amalgamated Bank grew its stake in shares of Advance Auto Parts by 50.0% during the 2nd quarter. Amalgamated Bank now owns 8,104 shares of the company’s stock worth $945,000 after purchasing an additional 2,703 shares during the period. BlackRock Inc. grew its stake in shares of Advance Auto Parts by 25.6% during the 2nd quarter. BlackRock Inc. now owns 5,425,799 shares of the company’s stock worth $632,593,000 after purchasing an additional 1,105,519 shares during the period. Nationwide Fund Advisors grew its stake in shares of Advance Auto Parts by 14.8% during the 2nd quarter. Nationwide Fund Advisors now owns 172,329 shares of the company’s stock worth $20,092,000 after purchasing an additional 22,152 shares during the period. Norinchukin Bank The grew its stake in shares of Advance Auto Parts by 6.9% during the 2nd quarter. Norinchukin Bank The now owns 5,124 shares of the company’s stock worth $597,000 after purchasing an additional 331 shares during the period. Finally, Seven Eight Capital LP boosted its position in shares of Advance Auto Parts by 318.3% in the 2nd quarter. Seven Eight Capital LP now owns 32,197 shares of the company’s stock worth $3,754,000 after buying an additional 24,500 shares in the last quarter.

Several equities research analysts recently commented on the stock. Bank of America Corporation reiterated an “underperform” rating and issued a $87.50 price objective on shares of Advance Auto Parts in a research report on Tuesday, September 5th. 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 report on Thursday, July 6th. Wedbush reiterated an “outperform” rating on shares of Advance Auto Parts in a research report on Thursday, July 6th. Credit Suisse Group set a $100.00 price objective on shares of Advance Auto Parts and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, Morgan Stanley restated an “overweight” rating and issued a $125.00 target price (down from $160.00) on shares of Advance Auto Parts in a report on Thursday, July 6th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Advance Auto Parts has a consensus rating of “Hold” and an average target price of $123.08.

Shares of Advance Auto Parts Inc (AAP) opened at 99.20 on Friday. Advance Auto Parts Inc has a 52-week low of $82.21 and a 52-week high of $177.83. The firm has a market cap of $7.29 billion, a P/E ratio of 16.00 and a beta of 0.90. The company’s 50-day moving average is $99.61 and its 200-day moving average is $125.12.

Advance Auto Parts (NYSE:AAP) last posted 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). Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the business earned $1.90 EPS. Advance Auto Parts’s revenue was up .3% on a year-over-year basis. Equities research analysts forecast that Advance Auto Parts Inc will post $5.16 earnings per share for the current fiscal year.

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

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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.

Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)




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