Advance Auto Parts Inc (AAP) Stake Raised by Clinton Group Inc.

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Clinton Group Inc. lifted its position in shares of Advance Auto Parts Inc (NYSE:AAP) by 117.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,234 shares of the company’s stock after acquiring an additional 16,880 shares during the quarter. Clinton Group Inc.’s holdings in Advance Auto Parts were worth $3,642,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Veritable L.P. boosted its stake in shares of Advance Auto Parts by 0.3% during the 2nd quarter. Veritable L.P. now owns 2,008 shares of the company’s stock worth $234,000 after acquiring an additional 6 shares in the last quarter. Cleararc Capital Inc. boosted its stake in shares of Advance Auto Parts by 0.4% during the 1st quarter. Cleararc Capital Inc. now owns 1,802 shares of the company’s stock worth $267,000 after acquiring an additional 7 shares in the last quarter. QS Investors LLC boosted its stake in shares of Advance Auto Parts by 0.9% during the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after acquiring an additional 9 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Advance Auto Parts by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,486 shares of the company’s stock worth $640,000 after acquiring an additional 14 shares in the last quarter. Finally, Strs Ohio boosted its stake in shares of Advance Auto Parts by 0.7% during the 1st quarter. Strs Ohio now owns 3,955 shares of the company’s stock worth $586,000 after acquiring an additional 28 shares in the last quarter.

AAP has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $125.00 target price (down from $160.00) on shares of Advance Auto Parts in a research note on Thursday, July 6th. Bank of America Corporation downgraded shares of Advance Auto Parts from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $150.00 to $90.00 in a research report on Friday, July 7th. BTIG Research restated a “sell” rating and set a $109.00 price target (down previously from $120.00) on shares of Advance Auto Parts in a research report on Thursday, June 22nd. Deutsche Bank AG restated a “buy” rating and set a $139.00 price target (down previously from $164.00) on shares of Advance Auto Parts in a research report on Friday, July 21st. Finally, Cleveland Research downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 28th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $123.08.

Advance Auto Parts Inc (NYSE AAP) traded down 0.30% during trading on Friday, hitting $99.20. 1,878,241 shares of the company were exchanged. The company has a 50-day moving average of $99.61 and a 200-day moving average of $125.12. Advance Auto Parts Inc has a 12 month low of $82.21 and a 12 month high of $177.83. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 19.80 and a beta of 0.90.

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

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

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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.

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

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