Duality Advisers LP Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Duality Advisers LP purchased a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 8,527 shares of the company’s stock, valued at approximately $1,215,000.

Several other hedge funds and other institutional investors also recently modified their holdings of AAP. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Advance Auto Parts by 88.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,780,229 shares of the company’s stock worth $166,131,000 after purchasing an additional 833,349 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of Advance Auto Parts by 24.0% in the first quarter. Champlain Investment Partners LLC now owns 1,431,560 shares of the company’s stock valued at $133,593,000 after purchasing an additional 276,805 shares during the period. Geode Capital Management LLC raised its position in shares of Advance Auto Parts by 2.7% in the first quarter. Geode Capital Management LLC now owns 1,077,393 shares of the company’s stock valued at $100,346,000 after purchasing an additional 27,991 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Advance Auto Parts by 40.9% during the 1st quarter. Bessemer Group Inc. now owns 1,068,650 shares of the company’s stock worth $99,727,000 after buying an additional 310,444 shares during the period. Finally, William Blair Investment Management LLC grew its stake in Advance Auto Parts by 6.3% in the 1st quarter. William Blair Investment Management LLC now owns 984,001 shares of the company’s stock valued at $91,827,000 after buying an additional 57,963 shares during the last quarter. 96.82% of the stock is currently owned by institutional investors and hedge funds.

In other 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 transaction of $101,793.60. Following the sale, the chief accounting officer now owns 7,008 shares in the company, valued at $990,791.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is currently owned by insiders.

Shares of AAP stock opened at $150.14 on Friday. The company has a market capitalization of $10.37 billion, a P/E ratio of 27.35, a P/E/G ratio of 2.16 and a beta of 1.32. Advance Auto Parts, Inc. has a 12-month low of $71.33 and a 12-month high of $171.43. 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 50-day moving average price of $142.60 and a 200 day moving average price of $129.32.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Tuesday, May 19th. The company reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.75 by ($0.84). The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.68 billion. Advance Auto Parts had a return on equity of 13.20% and a net margin of 4.10%. The business’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 EPS. As a group, research analysts expect that Advance Auto Parts, Inc. will post 6.45 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Saturday, June 13th were given a $0.25 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.00 annualized dividend and a yield of 0.67%. Advance Auto Parts’s payout ratio is 12.21%.

Several equities research analysts have recently issued reports on the company. Oppenheimer reaffirmed a “hold” rating on shares of Advance Auto Parts in a research report on Tuesday, May 19th. Wedbush boosted their target price on shares of Advance Auto Parts from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Atlantic Securities downgraded shares of Advance Auto Parts from a “neutral” rating to an “underweight” rating and set a $118.00 price target for the company. in a report on Monday, June 15th. Guggenheim boosted their price objective on shares of Advance Auto Parts from $153.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Cfra cut their price objective on shares of Advance Auto Parts from $155.00 to $135.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. Advance Auto Parts presently has a consensus rating of “Hold” and a consensus price target of $144.05.

Advance Auto Parts Company 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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