Buckingham Capital Management Inc. Lowers Position in Advance Auto Parts Inc (AAP)

Buckingham Capital Management Inc. trimmed its holdings in Advance Auto Parts Inc (NYSE:AAP) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,396 shares of the company’s stock after selling 413 shares during the period. Buckingham Capital Management Inc.’s holdings in Advance Auto Parts were worth $746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AAP. Strs Ohio grew its stake in Advance Auto Parts by 0.7% in the 1st quarter. Strs Ohio now owns 3,955 shares of the company’s stock valued at $586,000 after acquiring an additional 28 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Advance Auto Parts by 74.0% in the 1st quarter. Russell Investments Group Ltd. now owns 78,081 shares of the company’s stock valued at $11,576,000 after acquiring an additional 33,212 shares during the last quarter. IFP Advisors Inc grew its stake in Advance Auto Parts by 3.2% in the 1st quarter. IFP Advisors Inc now owns 767 shares of the company’s stock valued at $114,000 after acquiring an additional 24 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Advance Auto Parts by 51,135.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,247 shares of the company’s stock valued at $1,519,000 after acquiring an additional 10,227 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in Advance Auto Parts in the 1st quarter valued at about $430,000.

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Shares of Advance Auto Parts Inc (NYSE:AAP) traded up 1.93% on Tuesday, hitting $96.22. 1,014,099 shares of the stock traded hands. The company’s 50 day moving average is $101.45 and its 200 day moving average is $127.90. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 19.21 and a beta of 0.90. Advance Auto Parts Inc has a one year low of $82.21 and a one year high of $177.83.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.07). Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the firm earned $1.90 EPS. The company’s revenue was up .3% compared to the same quarter last year. On average, equities analysts forecast that Advance Auto Parts Inc will post $5.17 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.24 annualized dividend and a yield of 0.25%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.80%.

A number of equities research analysts recently commented on the stock. Bank of America Corporation reissued an “underperform” rating and issued a $87.50 price objective on shares of Advance Auto Parts in a research note on Tuesday, September 5th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Advance Auto Parts in a research note on Wednesday, May 24th. Royal Bank Of Canada decreased their price target on shares of Advance Auto Parts from $153.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 6th. Wedbush reaffirmed an “outperform” rating on shares of Advance Auto Parts in a research note on Thursday, July 6th. Finally, UBS AG reaffirmed a “buy” rating and set a $170.00 price target (down from $180.00) on shares of Advance Auto Parts in a research note on Thursday, May 25th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Advance Auto Parts currently has an average rating of “Hold” and a consensus price target of $124.03.

About Advance Auto Parts

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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