First Mercantile Trust Co. raised its position in shares of Advance Auto Parts Inc (NYSE:AAP) by 81.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 21,040 shares of the company’s stock after buying an additional 9,460 shares during the period. First Mercantile Trust Co.’s holdings in Advance Auto Parts were worth $2,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AAP. Vanguard Group Inc. boosted its position in Advance Auto Parts by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,780,206 shares of the company’s stock worth $1,005,233,000 after buying an additional 212,632 shares in the last quarter. BlackRock Inc. boosted its position in Advance Auto Parts by 3,142.5% in the first quarter. BlackRock Inc. now owns 4,320,280 shares of the company’s stock worth $640,524,000 after buying an additional 4,187,042 shares in the last quarter. Lazard Asset Management LLC boosted its position in 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 worth $464,848,000 after buying an additional 983,616 shares in the last quarter. American Century Companies Inc. boosted its position in Advance Auto Parts by 19.2% in the first quarter. American Century Companies Inc. now owns 1,589,566 shares of the company’s stock worth $235,669,000 after buying an additional 255,548 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Advance Auto Parts by 51.2% in the first quarter. Point72 Asset Management L.P. now owns 1,538,878 shares of the company’s stock valued at $228,154,000 after buying an additional 521,078 shares during the period.

Shares of Advance Auto Parts Inc (AAP) opened at 106.13 on Friday. Advance Auto Parts Inc has a one year low of $99.13 and a one year high of $177.83. The stock’s 50 day moving average price is $108.95 and its 200 day moving average price is $138.26. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 19.23 and a beta of 0.87.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by $0.60. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the firm earned $2.51 earnings per share. The company’s revenue was down 3.0% compared to the same quarter last year. Analysts forecast that Advance Auto Parts Inc will post $6.37 earnings per share for the current year.

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Several research analysts recently issued reports on AAP shares. UBS AG reissued a “buy” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advance Auto Parts in a research note on Wednesday, May 17th. Gabelli raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Thursday, April 20th. Deutsche Bank AG dropped their price objective on Advance Auto Parts from $192.00 to $164.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday, May 31st. Finally, Credit Suisse Group set a $150.00 price objective on Advance Auto Parts and gave the stock a “buy” rating in a research note on Monday, June 26th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $149.06.

In other news, insider Thomas Greco purchased 16,000 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were acquired at an average cost of $134.63 per share, for a total transaction of $2,154,080.00. Following the completion of the purchase, the insider now directly owns 111,030 shares in the company, valued at approximately $14,947,968.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey C. Smith purchased 350,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average price of $134.29 per share, for a total transaction of $47,001,500.00. Following the completion of the purchase, the director now owns 1,273 shares of the company’s stock, valued at $170,951.17. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 369,462 shares of company stock worth $49,617,073. Company insiders own 4.50% of the company’s stock.

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

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