Public Sector Pension investment Board reduced its stake in Advance Auto Parts Inc (NYSE:AAP) by 51.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,100 shares of the company’s stock after selling 8,700 shares during the period. Public Sector Pension investment Board’s holdings in Advance Auto Parts were worth $944,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AAP. Tobam bought a new stake in Advance Auto Parts during the 2nd quarter valued at approximately $118,000. Huntington National Bank grew its holdings in shares of Advance Auto Parts by 37.1% during the 2nd quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after acquiring an additional 283 shares during the period. Global X Management Co. LLC grew its holdings in shares of Advance Auto Parts by 14.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock worth $130,000 after acquiring an additional 139 shares during the period. IFP Advisors Inc grew its holdings in shares of Advance Auto Parts by 57.5% during the 2nd quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock worth $141,000 after acquiring an additional 441 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Advance Auto Parts by 7.5% during the 1st quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock worth $143,000 after acquiring an additional 67 shares during the period.

AAP has been the topic of several recent research reports. Barclays PLC reaffirmed an “equal weight” rating and issued a $90.00 price target (down from $93.00) on shares of Advance Auto Parts in a research note on Wednesday, August 16th. UBS AG restated a “buy” rating and set a $118.00 target price (down previously from $155.00) on shares of Advance Auto Parts in a report on Wednesday, August 16th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Advance Auto Parts in a research report on Tuesday, August 15th. Citigroup Inc. reduced their target price on shares of Advance Auto Parts to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 16th. Finally, Bank of America Corporation set a $77.00 price target on shares of Advance Auto Parts and gave the stock a “sell” rating in a research note on Thursday, August 17th. Five analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $123.08.

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Advance Auto Parts Inc (NYSE AAP) opened at 99.36 on Tuesday. The company has a market cap of $7.34 billion, a PE ratio of 19.84 and a beta of 0.92. The stock has a 50 day moving average of $96.33 and a 200 day moving average of $121.44. Advance Auto Parts Inc has a 52 week low of $82.21 and a 52 week high of $177.83.

Advance Auto Parts (NYSE:AAP) last issued its 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). Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the business earned $1.90 EPS. The business’s revenue was up .3% on a year-over-year basis. Equities research analysts predict that Advance Auto Parts Inc will post $5.16 EPS for the current fiscal year.

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

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.

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

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