Marshall Wace North America L.P. Buys New Position in Advance Auto Parts Inc (AAP)

Marshall Wace North America L.P. purchased a new stake in Advance Auto Parts Inc (NYSE:AAP) during the first quarter, Holdings Channel reports. The fund purchased 13,704 shares of the company’s stock, valued at approximately $2,028,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Advance Auto Parts during the fourth quarter valued at about $7,639,000. Van ECK Associates Corp boosted its position in Advance Auto Parts by 2.7% in the fourth quarter. Van ECK Associates Corp now owns 899 shares of the company’s stock valued at $152,000 after buying an additional 24 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Advance Auto Parts by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,222 shares of the company’s stock valued at $714,000 after buying an additional 16 shares in the last quarter. FMR LLC boosted its position in Advance Auto Parts by 8.8% in the fourth quarter. FMR LLC now owns 927,120 shares of the company’s stock valued at $156,794,000 after buying an additional 74,914 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in Advance Auto Parts by 20.0% in the fourth quarter. Gabelli Funds LLC now owns 30,000 shares of the company’s stock valued at $5,074,000 after buying an additional 5,000 shares in the last quarter.

Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

Shares of Advance Auto Parts Inc (NYSE:AAP) opened at 119.74 on Monday. Advance Auto Parts Inc has a 52-week low of $118.75 and a 52-week high of $177.83. The stock has a 50 day moving average of $137.98 and a 200 day moving average of $153.96. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 21.69 and a beta of 0.80.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Wednesday, May 24th. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by $0.60. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the firm posted $2.51 earnings per share. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, analysts predict that Advance Auto Parts Inc will post $6.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 23rd will be issued a $0.06 dividend. The ex-dividend date is Wednesday, June 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Advance Auto Parts’s payout ratio is currently 4.36%.

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Several research analysts recently issued reports on AAP shares. Wedbush reissued an “outperform” rating and set a $185.00 price target on shares of Advance Auto Parts in a report on Wednesday, March 15th. BTIG Research reissued a “sell” rating and set a $120.00 price target on shares of Advance Auto Parts in a report on Tuesday, March 28th. TheStreet cut shares of Advance Auto Parts from a “b” rating to a “c+” rating in a report on Monday, March 27th. Gabelli raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a report on Thursday, April 20th. Finally, Citigroup Inc. cut their price target on shares of Advance Auto Parts from $177.00 to $168.00 and set a “neutral” rating for the company in a report on Tuesday, April 25th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Advance Auto Parts has a consensus rating of “Hold” and a consensus target price of $162.50.

In other Advance Auto Parts news, Director Adriana Karaboutis bought 367 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were acquired at an average cost of $135.28 per share, for a total transaction of $49,647.76. Following the acquisition, the director now directly owns 3,043 shares of the company’s stock, valued at $411,657.04. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brad W. Buss bought 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was acquired at an average price of $134.47 per share, for a total transaction of $161,364.00. Following the completion of the acquisition, the director now directly owns 1,928 shares in the company, valued at $259,258.16. The disclosure for this purchase can be found here. Insiders purchased a total of 369,462 shares of company stock worth $49,617,073 over the last quarter. 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 (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.

Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts Inc (NYSE:AAP).

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