Huntington National Bank maintained its stake in Advance Auto Parts Inc. (NYSE:AAP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 974 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Advance Auto Parts were worth $146,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in AAP. Wellington Management Group LLP raised its stake in Advance Auto Parts by 7.4% in the first quarter. Wellington Management Group LLP now owns 7,904,939 shares of the company’s stock worth $1,267,478,000 after buying an additional 544,655 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in Advance Auto Parts by 75.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 633,200 shares of the company’s stock worth $101,527,000 after buying an additional 272,800 shares during the period. Scharf Investments LLC raised its stake in Advance Auto Parts by 26.1% in the first quarter. Scharf Investments LLC now owns 1,276,805 shares of the company’s stock worth $204,723,000 after buying an additional 264,613 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in Advance Auto Parts during the first quarter worth approximately $20,684,000. Finally, Champlain Investment Partners LLC raised its stake in Advance Auto Parts by 47.4% in the first quarter. Champlain Investment Partners LLC now owns 269,735 shares of the company’s stock worth $43,249,000 after buying an additional 86,695 shares during the period. Institutional investors and hedge funds own 98.53% of the company’s stock.
Advance Auto Parts Inc. (NYSE:AAP) traded down 0.39% during mid-day trading on Friday, hitting $148.13. The company had a trading volume of 396,775 shares. The company’s 50 day moving average price is $152.89 and its 200-day moving average price is $156.97. Advance Auto Parts Inc. has a 12-month low of $131.59 and a 12-month high of $201.24. The firm has a market capitalization of $10.90 billion, a PE ratio of 23.92 and a beta of 1.02.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, August 16th. The company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.12 by $0.22. Advance Auto Parts had a return on equity of 21.90% and a net margin of 4.80%. The business earned $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm earned $2.27 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, analysts forecast that Advance Auto Parts Inc. will post $7.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, September 23rd will be paid a $0.06 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.16%. Advance Auto Parts’s dividend payout ratio is 3.88%.
Several research analysts have issued reports on the company. Vetr downgraded Advance Auto Parts from a “hold” rating to a “sell” rating and set a $150.50 price objective on the stock. in a report on Tuesday, June 28th. Argus reiterated a “buy” rating and issued a $185.00 price objective (down from $200.00) on shares of Advance Auto Parts in a research report on Tuesday, June 21st. Susquehanna assumed coverage on Advance Auto Parts in a research report on Thursday, August 25th. They issued a “neutral” rating and a $158.00 price objective on the stock. Wedbush reiterated an “outperform” rating and issued a $175.00 price objective on shares of Advance Auto Parts in a research report on Wednesday. Finally, Royal Bank Of Canada decreased their price objective on Advance Auto Parts from $180.00 to $174.00 and set an “outperform” rating on the stock in a research report on Thursday, September 8th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Advance Auto Parts currently has an average rating of “Hold” and a consensus price target of $170.08.
In other news, Director Reuben E. Slone purchased 632 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were acquired at an average price of $157.99 per share, with a total value of $99,849.68. Following the completion of the transaction, the director now owns 1,619 shares of the company’s stock, valued at approximately $255,785.81. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Francis Ferraro purchased 500 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were purchased at an average cost of $160.28 per share, for a total transaction of $80,140.00. Following the transaction, the director now directly owns 2,941 shares of the company’s stock, valued at approximately $471,383.48. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by corporate insiders.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. 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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