State Treasurer State of Michigan raised its position in Advance Auto Parts Inc. (NYSE:AAP) by 0.4% during the third quarter, Holdings Channel reports. The fund owned 25,700 shares of the company’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in Advance Auto Parts were worth $3,832,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Advance Auto Parts by 2.2% in the second quarter. Vanguard Group Inc. now owns 6,257,544 shares of the company’s stock valued at $1,011,407,000 after buying an additional 133,221 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Advance Auto Parts by 0.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,857,426 shares of the company’s stock valued at $300,216,000 after buying an additional 11,943 shares in the last quarter. American Century Companies Inc. increased its stake in 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 valued at $247,870,000 after buying an additional 196,674 shares in the last quarter. Scharf Investments LLC increased its stake in Advance Auto Parts by 6.0% in the second quarter. Scharf Investments LLC now owns 1,353,914 shares of the company’s stock valued at $218,833,000 after buying an additional 77,109 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Advance Auto Parts by 119.5% in the second quarter. Marshall Wace LLP now owns 791,126 shares of the company’s stock valued at $127,870,000 after buying an additional 430,709 shares in the last quarter. Hedge funds and other institutional investors own 99.99% of the company’s stock.

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

Shares of Advance Auto Parts Inc. (NYSE:AAP) traded down 0.57% during trading on Tuesday, hitting $169.80. 639,718 shares of the company’s stock were exchanged. The stock has a market cap of $12.50 billion, a P/E ratio of 27.83 and a beta of 1.04. Advance Auto Parts Inc. has a one year low of $131.59 and a one year high of $174.31. The firm has a 50-day moving average price of $148.70 and a 200-day moving average price of $154.73.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Monday, November 14th. The company reported $1.73 earnings per share for the quarter, topping 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 firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm posted $1.95 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts expect that Advance Auto Parts Inc. will post $7.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 23rd will be issued a $0.06 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is presently 3.94%.

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A number of research firms recently commented on AAP. Credit Suisse Group AG reissued a “buy” rating and issued a $171.00 target price on shares of Advance Auto Parts in a research note on Wednesday, November 23rd. Deutsche Bank AG increased their target price on Advance Auto Parts from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Robert W. Baird reissued a “neutral” rating and issued a $175.00 target price (up previously from $165.00) on shares of Advance Auto Parts in a research note on Wednesday, November 16th. Zacks Investment Research raised Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th. Finally, Jefferies Group reissued a “hold” rating and issued a $160.00 target price (up previously from $150.00) on shares of Advance Auto Parts in a research note on Friday, November 18th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of “Hold” and a consensus price target of $166.81.

In other Advance Auto Parts news, Director Jeffrey C. Smith bought 70,000 shares of Advance Auto Parts stock in a transaction dated Friday, September 2nd. The shares were purchased at an average cost of $158.77 per share, for a total transaction of $11,113,900.00. Following the acquisition, the director now directly owns 1,271 shares in the company, valued at approximately $201,796.67. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 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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