Trading Report: Today: Alta Capital Management LLC Sold shares of Advance Auto Parts Inc. (AAP)

Today: Alta Capital Management LLC Sold shares of Advance Auto Parts Inc. (AAP)

Alta Capital Management LLC lowered its stake in shares of Advance Auto Parts Inc. (NYSE:AAP) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,524 shares of the company’s stock after selling 1,328 shares during the period. Advance Auto Parts comprises 1.6% of Alta Capital Management LLC’s investment portfolio, making the stock its 29th largest position. Alta Capital Management LLC’s holdings in Advance Auto Parts were worth $26,025,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AAP. Cullinan Associates Inc. raised its stake in shares of Advance Auto Parts by 2.2% in the second quarter. Cullinan Associates Inc. now owns 20,700 shares of the company’s stock valued at $3,346,000 after buying an additional 450 shares during the period. British Columbia Investment Management Corp raised its stake in shares of Advance Auto Parts by 78.1% in the second quarter. British Columbia Investment Management Corp now owns 38,563 shares of the company’s stock valued at $6,233,000 after buying an additional 16,905 shares during the period. Exxonmobil Investment Management Inc. TX raised its stake in shares of Advance Auto Parts by 6.7% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 19,040 shares of the company’s stock valued at $3,077,000 after buying an additional 1,188 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in shares of Advance Auto Parts by 1.6% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 62,836 shares of the company’s stock valued at $10,156,000 after buying an additional 968 shares during the period. Finally, Community Trust & Investment Co. raised its stake in shares of Advance Auto Parts by 3.5% in the second quarter. Community Trust & Investment Co. now owns 94,320 shares of the company’s stock valued at $15,245,000 after buying an additional 3,152 shares during the period. Institutional investors and hedge funds own 99.99% of the company’s stock.

Shares of Advance Auto Parts Inc. (NYSE:AAP) traded up 0.35% during midday trading on Monday, hitting $171.45. 605,413 shares of the stock traded hands. Advance Auto Parts Inc. has a 52 week low of $131.59 and a 52 week high of $174.31. The stock has a market capitalization of $12.63 billion, a P/E ratio of 28.10 and a beta of 1.04. The firm has a 50-day moving average price of $148.06 and a 200-day moving average price of $154.52.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Monday, November 14th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the company posted $1.95 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts predict that Advance Auto Parts Inc. will post $7.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 23rd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, December 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.14%. Advance Auto Parts’s payout ratio is currently 3.94%.

Several analysts have recently weighed in on AAP shares. Deutsche Bank AG boosted their price target on shares of Advance Auto Parts from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Wedbush restated an “outperform” rating and issued a $175.00 price target (up from $160.00) on shares of Advance Auto Parts in a research report on Wednesday, August 17th. Citigroup Inc. boosted their price target on shares of Advance Auto Parts from $145.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, August 17th. BTIG Research restated a “sell” rating and issued a $120.00 price target on shares of Advance Auto Parts in a research report on Wednesday, August 17th. Finally, Credit Suisse Group AG restated an “outperform” rating and issued a $171.00 price target (up from $155.00) on shares of Advance Auto Parts in a research report on Thursday, August 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Advance Auto Parts presently has an average rating of “Hold” and an average target price of $166.81.

In other Advance Auto Parts news, EVP Robert B. Cushing bought 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The shares were acquired at an average cost of $156.66 per share, for a total transaction of $234,990.00. Following the transaction, the executive vice president now directly owns 6,362 shares in the company, valued at $996,670.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey C. Smith bought 70,000 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were acquired at an average price of $158.77 per share, for a total transaction of $11,113,900.00. Following the completion of the transaction, the director now owns 1,271 shares in the company, valued at $201,796.67. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.

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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