Trade Report: The BlackRock Advisors LLC Raises its position in Advance Auto Parts Inc. (AAP) as a favorable investment target.

The BlackRock Advisors LLC Raises its position in Advance Auto Parts Inc. (AAP) as a favorable investment target.

BlackRock Advisors LLC increased its position in shares of Advance Auto Parts Inc. (NYSE:AAP) by 100.4% during the second quarter, Holdings Channel reports. The institutional investor owned 52,146 shares of the company’s stock after buying an additional 26,131 shares during the period. BlackRock Advisors LLC owned 0.07% of Advance Auto Parts worth $8,428,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Advance Auto Parts by 7.4% in the first quarter. Wellington Management Group LLP now owns 7,904,939 shares of the company’s stock worth $1,267,478,000 after buying an additional 544,655 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Advance Auto Parts by 2.2% in the second quarter. Vanguard Group Inc. now owns 6,257,544 shares of the company’s stock worth $1,011,407,000 after buying an additional 133,221 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Advance Auto Parts by 1.1% in the first quarter. Lazard Asset Management LLC now owns 3,513,347 shares of the company’s stock worth $563,328,000 after buying an additional 38,584 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Advance Auto Parts by 14.7% in the second quarter. American Century Companies Inc. now owns 1,533,567 shares of the company’s stock worth $247,870,000 after buying an additional 196,674 shares in the last quarter. Finally, Scharf Investments LLC raised its stake in shares of Advance Auto Parts by 26.1% in the first quarter. Scharf Investments LLC now owns 1,276,805 shares of the company’s stock worth $204,723,000 after buying an additional 264,613 shares in the last quarter. 98.53% of the stock is owned by institutional investors and hedge funds.

Shares of Advance Auto Parts Inc. (NYSE:AAP) opened at 146.76 on Wednesday. The company has a market capitalization of $10.80 billion, a PE ratio of 23.70 and a beta of 1.02. The firm’s 50-day moving average is $152.27 and its 200 day moving average is $156.76. Advance Auto Parts Inc. has a 12 month low of $131.59 and a 12 month high of $201.24.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, August 16th. The company reported $1.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.12 by $0.22. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Advance Auto Parts had a net margin of 4.80% and a return on equity of 21.90%. Advance Auto Parts’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.27 EPS. Equities research analysts predict that Advance Auto Parts Inc. will post $7.43 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, September 23rd were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Wednesday, September 21st. Advance Auto Parts’s payout ratio is currently 3.88%.

A number of analysts recently weighed in on AAP shares. Susquehanna started coverage on shares of Advance Auto Parts in a report on Thursday, August 25th. They issued a “neutral” rating and a $158.00 price target for the company. Vetr raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating and set a $150.50 price target for the company in a report on Wednesday, June 22nd. Wedbush reaffirmed an “outperform” rating and set a $160.00 target price on shares of Advance Auto Parts in a report on Wednesday, June 15th. Citigroup Inc. lifted their target price on shares of Advance Auto Parts from $145.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, August 17th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and set a $171.00 target price (up previously from $155.00) on shares of Advance Auto Parts in a report on Thursday, August 18th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. Advance Auto Parts presently has an average rating of “Hold” and an average target price of $170.08.

In other news, Director Jeffrey C. Smith acquired 70,000 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was bought at an average cost of $158.77 per share, for a total transaction of $11,113,900.00. Following the completion of the transaction, the director now directly owns 1,271 shares in the company, valued at approximately $201,796.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Charles E. Tyson acquired 633 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were purchased at an average price of $157.75 per share, with a total value of $99,855.75. Following the completion of the transaction, the executive vice president now owns 18,397 shares of the company’s stock, valued at $2,902,126.75. The disclosure for this purchase can be found here. Insiders own 4.50% of the company’s stock.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. 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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