New Mexico Educational Retirement Board lowered its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 20.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,400 shares of the company’s stock after selling 1,100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Advance Auto Parts were worth $411,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AAP. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Advance Auto Parts by 88.0% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,780,229 shares of the company’s stock valued at $166,131,000 after acquiring an additional 833,349 shares during the period. Norges Bank bought a new position in Advance Auto Parts during the fourth quarter worth $112,393,000. Bank of America Corp DE raised its stake in Advance Auto Parts by 52.5% during the 4th quarter. Bank of America Corp DE now owns 1,132,971 shares of the company’s stock valued at $181,457,000 after purchasing an additional 390,256 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Advance Auto Parts by 66.5% in the 4th quarter. William Blair Investment Management LLC now owns 926,038 shares of the company’s stock valued at $148,314,000 after purchasing an additional 369,905 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its position in Advance Auto Parts by 108.9% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 655,398 shares of the company’s stock worth $61,162,000 after purchasing an additional 341,655 shares during the last quarter. Institutional investors own 96.85% of the company’s stock.

Shares of NYSE:AAP opened at $141.84 on Friday. Advance Auto Parts, Inc. has a 12 month low of $71.33 and a 12 month high of $171.43. The company’s 50-day moving average price is $139.47 and its two-hundred day moving average price is $131.40. The company has a quick ratio of 0.42, a current ratio of 1.36 and a debt-to-equity ratio of 0.92. The firm has a market cap of $9.80 billion, a P/E ratio of 25.84, a P/E/G ratio of 2.07 and a beta of 1.32.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, May 19th. The company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.75 by ($0.84). Advance Auto Parts had a return on equity of 13.20% and a net margin of 4.10%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the firm posted $2.46 earnings per share. The company’s revenue was down 8.6% on a year-over-year basis. As a group, equities analysts predict that Advance Auto Parts, Inc. will post 6.41 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Saturday, June 13th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, June 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 12.21%.

In other Advance Auto Parts news, CAO Andrew E. Page sold 720 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $141.38, for a total value of $101,793.60. Following the transaction, the chief accounting officer now directly owns 7,008 shares in the company, valued at approximately $990,791.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by corporate insiders.

AAP has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Advance Auto Parts from $122.00 to $138.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Atlantic Securities lowered Advance Auto Parts from a “neutral” rating to an “underweight” rating and set a $118.00 price objective on the stock. in a research note on Monday, June 15th. Royal Bank of Canada increased their target price on Advance Auto Parts from $136.00 to $155.00 in a report on Wednesday, May 20th. Jefferies Financial Group boosted their price target on Advance Auto Parts from $151.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Wells Fargo & Co reiterated a “neutral” rating on shares of Advance Auto Parts in a research note on Tuesday, May 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $144.40.

Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.

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

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