State Board of Administration of Florida Retirement System Sells 1,660 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

State Board of Administration of Florida Retirement System reduced its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,832 shares of the company’s stock after selling 1,660 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.14% of Advance Auto Parts worth $19,044,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. WealthShield Partners LLC grew 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 worth $36,000 after buying an additional 49 shares during 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. Daiwa Securities Group Inc. raised its holdings in shares of Advance Auto Parts by 2.2% in the second quarter. Daiwa Securities Group Inc. now owns 3,611 shares of the company’s stock worth $741,000 after buying an additional 77 shares during the last quarter. Eudaimonia Partners LLC raised its holdings in shares of Advance Auto Parts by 2.8% in the first quarter. Eudaimonia Partners LLC now owns 3,317 shares of the company’s stock worth $609,000 after buying an additional 89 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its stake in shares of Advance Auto Parts by 2.3% during the second quarter. New Mexico Educational Retirement Board now owns 4,400 shares of the company’s stock worth $903,000 after buying an additional 100 shares during the period. 95.75% of the stock is currently owned by institutional investors.

In other news, EVP Robert B. Cushing sold 3,500 shares of Advance Auto Parts stock in a transaction that occurred on Friday, September 10th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.40% of the company’s stock.

A number of brokerages recently issued reports on AAP. Wedbush raised their target price on Advance Auto Parts from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 25th. Zacks Investment Research downgraded Advance Auto Parts from a “buy” rating to a “hold” rating and set a $223.00 target price for the company. in a report on Tuesday, July 13th. Credit Suisse Group upped their target price on Advance Auto Parts from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, August 25th. raised their price target on shares of Advance Auto Parts from $228.00 to $232.00 and gave the stock a “buy” rating in a research report on Thursday, June 3rd. Finally, Raymond James raised shares of Advance Auto Parts from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $215.00 to $250.00 in a report on Tuesday, July 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $214.16.

Shares of Advance Auto Parts stock opened at $205.80 on Friday. The firm has a market cap of $12.97 billion, a PE ratio of 22.06, a P/E/G ratio of 1.26 and a beta of 1.36. Advance Auto Parts, Inc. has a twelve month low of $142.46 and a twelve month 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 business has a 50-day moving average price of $207.34 and a 200 day moving average price of $197.93.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Monday, August 23rd. The company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.04 by $0.36. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.65 billion. Advance Auto Parts had a return on equity of 21.64% and a net margin of 5.73%. Advance Auto Parts’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $2.92 earnings per share. On average, sell-side analysts expect that Advance Auto Parts, Inc. will post 11.34 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 17th will be issued a dividend of $1.00 per share. The ex-dividend date is Thursday, September 16th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.94%. Advance Auto Parts’s payout ratio is currently 47.00%.

Advance Auto Parts Company 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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