BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 960 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 8.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,107 shares of the company’s stock after purchasing an additional 960 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Advance Auto Parts were worth $2,484,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allred Capital Management LLC bought a new stake in Advance Auto Parts during the 1st quarter valued at $31,000. WealthShield Partners LLC increased its stake in Advance Auto Parts by 39.2% during the 2nd quarter. WealthShield Partners LLC now owns 174 shares of the company’s stock valued at $36,000 after purchasing an additional 49 shares in the last quarter. IFP Advisors Inc increased its stake in Advance Auto Parts by 182.8% during the 2nd quarter. IFP Advisors Inc now owns 181 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Advance Auto Parts by 59.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 186 shares of the company’s stock valued at $34,000 after purchasing an additional 69 shares in the last quarter. Finally, Allworth Financial LP bought a new stake in Advance Auto Parts during the 2nd quarter valued at $57,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

In other news, EVP Robert B. Cushing sold 3,500 shares of the stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $202.15, for a total value of $707,525.00. Following the sale, the executive vice president now directly owns 15,752 shares of the company’s stock, valued at $3,184,266.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.40% of the company’s stock.

Several analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Advance Auto Parts from $223.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, August 25th. DA Davidson reiterated a “neutral” rating and issued a $220.00 target price (up previously from $210.00) on shares of Advance Auto Parts in a research note on Wednesday, August 25th. Wedbush upped their target price on shares of Advance Auto Parts from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 25th. Wells Fargo & Company upped their target price on shares of Advance Auto Parts from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 25th. Finally, Credit Suisse Group upped their target price on shares of Advance Auto Parts from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Buy” and an average target price of $214.16.

NYSE AAP opened at $207.69 on Friday. The company has a market cap of $13.08 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 1.26 and a beta of 1.36. Advance Auto Parts, Inc. has a 52 week low of $142.46 and a 52 week high of $217.69. The company has a quick ratio of 0.37, a current ratio of 1.27 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $207.49 and its two-hundred day simple moving average is $197.63.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Monday, August 23rd. The company reported $3.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.04 by $0.36. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.65 billion. Advance Auto Parts had a net margin of 5.73% and a return on equity of 21.64%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.92 earnings per share. As a group, equities research analysts anticipate that Advance Auto Parts, Inc. will post 11.34 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 17th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, September 16th. Advance Auto Parts’s payout ratio is 47.00%.

Advance Auto Parts Profile

Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.

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

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