Cibc World Markets Corp Acquires 2,726 Shares of Advance Auto Parts Inc (AAP)
Cibc World Markets Corp grew its holdings in shares of Advance Auto Parts Inc (NYSE:AAP) by 35.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,435 shares of the company’s stock after purchasing an additional 2,726 shares during the quarter. Cibc World Markets Corp’s holdings in Advance Auto Parts were worth $1,217,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Legal & General Group Plc increased its stake in shares of Advance Auto Parts by 5.3% in the second quarter. Legal & General Group Plc now owns 358,722 shares of the company’s stock worth $41,825,000 after purchasing an additional 18,209 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Advance Auto Parts by 78.0% in the second quarter. Wells Fargo & Company MN now owns 884,760 shares of the company’s stock valued at $103,155,000 after purchasing an additional 387,673 shares during the period. Tobam bought a new stake in shares of Advance Auto Parts in the second quarter valued at approximately $118,000. Marshall Wace North America L.P. bought a new stake in shares of Advance Auto Parts in the first quarter valued at approximately $2,028,000. Finally, ARGA Investment Management LP raised its position in shares of Advance Auto Parts by 89.0% in the second quarter. ARGA Investment Management LP now owns 53,300 shares of the company’s stock valued at $6,214,000 after purchasing an additional 25,100 shares during the period.
Advance Auto Parts Inc (NYSE:AAP) opened at 99.20 on Monday. The company has a market cap of $7.33 billion, a PE ratio of 19.80 and a beta of 0.92. The company has a 50-day moving average price of $99.61 and a 200-day moving average price of $125.12. Advance Auto Parts Inc has a 1-year low of $82.21 and a 1-year high of $177.83.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.07). The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. Advance Auto Parts’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 EPS. On average, analysts expect that Advance Auto Parts Inc will post $5.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.24%. Advance Auto Parts’s payout ratio is currently 4.80%.
A number of research firms recently weighed in on AAP. BidaskClub lowered shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Jefferies Group LLC boosted their target price on shares of Advance Auto Parts to $150.00 and gave the company a “hold” rating in a report on Wednesday, June 28th. Cleveland Research downgraded Advance Auto Parts from a “buy” rating to a “neutral” 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 reaffirmed a “sell” rating and issued a $109.00 price target (down from $120.00) on shares of Advance Auto Parts in a report on Thursday, June 22nd. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Advance Auto Parts currently has an average rating of “Hold” and an average price target of $123.08.
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.
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