Advance Auto Parts Inc. (AAP) Shares Sold by Alta Capital Management LLC
Alta Capital Management LLC decreased its stake in Advance Auto Parts Inc. (NYSE:AAP) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,524 shares of the company’s stock after selling 1,328 shares during the period. Advance Auto Parts comprises 1.6% of Alta Capital Management LLC’s holdings, making the stock its 29th largest position. Alta Capital Management LLC owned about 0.24% of Advance Auto Parts worth $26,025,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in Advance Auto Parts by 31.9% in the second quarter. Van ECK Associates Corp now owns 637 shares of the company’s stock worth $103,000 after buying an additional 154 shares during the last quarter. Kanaly Trust Co raised its stake in Advance Auto Parts by 65.5% in the second quarter. Kanaly Trust Co now owns 720 shares of the company’s stock worth $116,000 after buying an additional 285 shares during the last quarter. Global X Management Co. LLC raised its stake in Advance Auto Parts by 92.3% in the second quarter. Global X Management Co. LLC now owns 723 shares of the company’s stock worth $117,000 after buying an additional 347 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Advance Auto Parts by 4.0% in the second quarter. Checchi Capital Advisers LLC now owns 751 shares of the company’s stock worth $121,000 after buying an additional 29 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in Advance Auto Parts by 159.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,041 shares of the company’s stock worth $168,000 after buying an additional 640 shares during the last quarter. 99.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of Advance Auto Parts Inc. (NYSE:AAP) traded up 0.35% during mid-day trading on Monday, hitting $171.45. The stock had a trading volume of 605,413 shares. The stock has a 50-day moving average price of $148.06 and a 200 day moving average price of $154.52. Advance Auto Parts Inc. has a 52 week low of $131.59 and a 52 week high of $174.31. The stock has a market cap of $12.63 billion, a P/E ratio of 28.10 and a beta of 1.04.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Monday, November 14th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The company earned $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $1.95 EPS. On average, equities analysts forecast that Advance Auto Parts Inc. will post $7.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 23rd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Wednesday, December 21st. Advance Auto Parts’s dividend payout ratio (DPR) is currently 3.94%.
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A number of equities research analysts recently issued reports on AAP shares. Deutsche Bank AG upped their target price on Advance Auto Parts from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price (up previously from $160.00) on shares of Advance Auto Parts in a research note on Wednesday, August 17th. Citigroup Inc. upped their target price on Advance Auto Parts from $145.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, August 17th. BTIG Research reaffirmed a “sell” rating and issued a $120.00 target price on shares of Advance Auto Parts in a research note on Wednesday, August 17th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $171.00 target price (up previously from $155.00) on shares of Advance Auto Parts in a research note on Thursday, August 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $166.81.
In related news, Director Jeffrey C. Smith bought 70,000 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was bought at an average price of $158.77 per share, with a total value of $11,113,900.00. Following the purchase, the director now directly owns 1,271 shares of the company’s stock, valued at approximately $201,796.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert B. Cushing bought 1,500 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were bought at an average cost of $156.66 per share, with a total value of $234,990.00. Following the purchase, the executive vice president now directly owns 6,362 shares in the company, valued at $996,670.92. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.
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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