Verition Fund Management LLC raised its position in Advance Auto Parts Inc (NYSE:AAP) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,574 shares of the company’s stock after acquiring an additional 184 shares during the quarter. Verition Fund Management LLC’s holdings in Advance Auto Parts were worth $766,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Veritable L.P. grew its position in Advance Auto Parts by 0.3% in the 2nd quarter. Veritable L.P. now owns 2,008 shares of the company’s stock valued at $234,000 after acquiring an additional 6 shares in the last quarter. QS Investors LLC grew its position in Advance Auto Parts by 0.9% in the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after acquiring an additional 9 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Advance Auto Parts by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,486 shares of the company’s stock valued at $640,000 after acquiring an additional 14 shares in the last quarter. Advisors Asset Management Inc. grew its position in Advance Auto Parts by 0.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 5,676 shares of the company’s stock valued at $662,000 after acquiring an additional 47 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its position in Advance Auto Parts by 0.3% in the 2nd quarter. State of Tennessee Treasury Department now owns 20,197 shares of the company’s stock valued at $2,355,000 after acquiring an additional 60 shares in the last quarter.

Advance Auto Parts Inc (NYSE AAP) traded down 0.485% during midday trading on Monday, reaching $85.095. The company had a trading volume of 420,610 shares. The firm’s 50-day moving average price is $95.62 and its 200 day moving average price is $117.62. The firm has a market capitalization of $6.28 billion, a PE ratio of 16.988 and a beta of 0.92. Advance Auto Parts Inc has a 12 month low of $82.21 and a 12 month high of $177.83.

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

The company also recently announced a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 22nd were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Thursday, September 21st. Advance Auto Parts’s dividend payout ratio is presently 4.80%.

Several research firms have weighed in on AAP. Bank of America Corporation reaffirmed an “underperform” rating and issued a $87.50 target price on shares of Advance Auto Parts in a research report on Tuesday, September 5th. Royal Bank Of Canada decreased their price objective on Advance Auto Parts from $153.00 to $125.00 and set a “sector perform” rating for the company in a research note on Thursday, July 6th. Wedbush reiterated an “outperform” rating on shares of Advance Auto Parts in a research note on Thursday, July 6th. Credit Suisse Group set a $100.00 price objective on Advance Auto Parts and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $125.00 price objective (down previously from $160.00) on shares of Advance Auto Parts in a research note on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $118.79.

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Advance Auto Parts 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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