Texas Permanent School Fund decreased its stake in Advance Auto Parts Inc (NYSE:AAP) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 20,750 shares of the company’s stock after selling 803 shares during the period. Texas Permanent School Fund’s holdings in Advance Auto Parts were worth $2,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAP. IFP Advisors Inc increased its position in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock valued at $114,000 after buying an additional 24 shares during the last quarter. Huntington National Bank increased its position in Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after buying an additional 283 shares during the last quarter. Van ECK Associates Corp increased its position in Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock valued at $143,000 after buying an additional 67 shares during the last quarter. Global X Management Co. LLC increased its position in Advance Auto Parts by 28.9% in the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock valued at $144,000 after buying an additional 218 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new position in Advance Auto Parts during the first quarter valued at $148,000.

Advance Auto Parts Inc (NYSE:AAP) opened at 109.18 on Thursday. The stock has a market capitalization of $8.06 billion, a PE ratio of 19.78 and a beta of 0.87. Advance Auto Parts Inc has a 52 week low of $99.13 and a 52 week high of $177.83. The firm has a 50-day moving average price of $109.35 and a 200-day moving average price of $138.49.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data 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 net margin of 4.31% and a return on equity of 16.02%. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the company earned $2.51 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities research analysts predict that Advance Auto Parts Inc will post $6.38 EPS for the current fiscal year.

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Several research analysts have recently weighed in on the company. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Advance Auto Parts in a research note on Wednesday, May 24th. Royal Bank Of Canada cut their price target 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. UBS AG reiterated a “buy” rating and set a $170.00 price target (down previously from $180.00) on shares of Advance Auto Parts in a research note on Thursday, May 25th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $125.00 price target (down previously from $160.00) on shares of Advance Auto Parts in a research note on Thursday, July 6th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $149.06.

In other Advance Auto Parts news, Director Brad W. Buss purchased 1,200 shares of Advance Auto Parts stock in a transaction dated Wednesday, May 31st. The shares were purchased at an average cost of $134.47 per share, for a total transaction of $161,364.00. Following the completion of the acquisition, the director now owns 1,928 shares in the company, valued at approximately $259,258.16. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adriana Karaboutis purchased 367 shares of Advance Auto Parts stock in a transaction dated Friday, June 2nd. The stock was acquired at an average price of $135.28 per share, for a total transaction of $49,647.76. Following the completion of the acquisition, the director now owns 3,043 shares of the company’s stock, valued at approximately $411,657.04. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 369,462 shares of company stock worth $49,617,073. Company insiders own 4.50% of the company’s stock.

Advance Auto Parts Company 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.

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

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