Wells Fargo & Company MN increased its position in Advance Auto Parts Inc (NYSE:AAP) by 78.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 884,760 shares of the company’s stock after purchasing an additional 387,673 shares during the quarter. Wells Fargo & Company MN owned 1.20% of Advance Auto Parts worth $103,155,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in AAP. BlackRock Inc. boosted its stake in shares of Advance Auto Parts by 3,142.5% in the first quarter. BlackRock Inc. now owns 4,320,280 shares of the company’s stock valued at $640,524,000 after purchasing an additional 4,187,042 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Advance Auto Parts by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,135,361 shares of the company’s stock valued at $464,848,000 after purchasing an additional 983,616 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Advance Auto Parts by 6,616.2% in the second quarter. Neuberger Berman Group LLC now owns 903,258 shares of the company’s stock valued at $105,311,000 after purchasing an additional 889,809 shares during the period. Thompson Siegel & Walmsley LLC boosted its stake in shares of Advance Auto Parts by 279.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,147,414 shares of the company’s stock valued at $133,777,000 after purchasing an additional 845,130 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Advance Auto Parts by 193.0% in the second quarter. Bessemer Group Inc. now owns 1,207,206 shares of the company’s stock valued at $140,748,000 after purchasing an additional 795,132 shares during the period.
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Shares of Advance Auto Parts Inc (NYSE AAP) opened at 94.40 on Tuesday. The firm has a market cap of $6.97 billion, a PE ratio of 18.85 and a beta of 0.90. Advance Auto Parts Inc has a 12-month low of $82.21 and a 12-month high of $177.83. The company has a 50 day moving average of $101.45 and a 200-day moving average of $127.90.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data 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 company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.90 earnings per share. Equities research analysts forecast that Advance Auto Parts Inc will post $5.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.25%. Advance Auto Parts’s payout ratio is presently 4.80%.
Several research analysts have recently weighed in on AAP shares. Wedbush restated an “outperform” rating and issued a $160.00 target price (down from $185.00) on shares of Advance Auto Parts in a research note on Sunday, May 28th. Gabelli reaffirmed a “buy” rating on shares of Advance Auto Parts in a report on Wednesday, August 16th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of Advance Auto Parts in a report on Tuesday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $139.00 price target (down from $164.00) on shares of Advance Auto Parts in a report on Friday, July 21st. Finally, BidaskClub cut shares of Advance Auto Parts from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Advance Auto Parts has an average rating of “Hold” and a consensus price target of $124.03.
About Advance Auto Parts
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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