PGGM Investments purchased a new position in Advance Auto Parts, Inc. (NYSE:AAP) during the second quarter, HoldingsChannel reports. The fund purchased 25,000 shares of the company’s stock, valued at approximately $3,854,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Advance Auto Parts by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 718,023 shares of the company’s stock worth $113,052,000 after purchasing an additional 8,935 shares during the period. Geode Capital Management LLC raised its position in Advance Auto Parts by 14.2% during the fourth quarter. Geode Capital Management LLC now owns 994,692 shares of the company’s stock valued at $156,363,000 after acquiring an additional 124,055 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Advance Auto Parts during the fourth quarter valued at approximately $313,000. FMR LLC raised its position in Advance Auto Parts by 9.8% during the fourth quarter. FMR LLC now owns 35,865 shares of the company’s stock valued at $5,647,000 after acquiring an additional 3,211 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its position in Advance Auto Parts by 3.1% during the first quarter. Contravisory Investment Management Inc. now owns 2,468 shares of the company’s stock valued at $421,000 after acquiring an additional 74 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors.
Several brokerages have commented on AAP. William Blair reissued an “outperform” rating on shares of Advance Auto Parts in a report on Wednesday, May 22nd. Wedbush reissued an “outperform” rating and issued a $200.00 price objective on shares of Advance Auto Parts in a report on Thursday, July 11th. ValuEngine lowered Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Tuesday, June 11th. Northcoast Research reissued a “neutral” rating on shares of Advance Auto Parts in a report on Thursday, June 27th. Finally, Goldman Sachs Group began coverage on Advance Auto Parts in a report on Thursday, July 11th. They issued a “sell” rating and a $151.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $188.17.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported $2.46 EPS for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.10. Advance Auto Parts had a return on equity of 15.23% and a net margin of 4.45%. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the business posted $2.10 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts predict that Advance Auto Parts, Inc. will post 8.21 earnings per share for the current year.
About Advance Auto Parts
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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