Nisa Investment Advisors LLC Increases Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Nisa Investment Advisors LLC grew its position in Advance Auto Parts, Inc. (NYSE:AAP) by 1.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 18,774 shares of the company’s stock after purchasing an additional 300 shares during the period. Nisa Investment Advisors LLC’s holdings in Advance Auto Parts were worth $2,674,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Advance Auto Parts by 88.0% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,780,229 shares of the company’s stock valued at $166,131,000 after acquiring an additional 833,349 shares during the period. Champlain Investment Partners LLC increased its stake in Advance Auto Parts by 24.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,431,560 shares of the company’s stock worth $133,593,000 after buying an additional 276,805 shares during the period. Geode Capital Management LLC increased its stake in Advance Auto Parts by 2.7% in the 1st quarter. Geode Capital Management LLC now owns 1,077,393 shares of the company’s stock worth $100,346,000 after buying an additional 27,991 shares during the period. Bessemer Group Inc. increased its stake in Advance Auto Parts by 40.9% in the 1st quarter. Bessemer Group Inc. now owns 1,068,650 shares of the company’s stock worth $99,727,000 after buying an additional 310,444 shares during the period. Finally, William Blair Investment Management LLC increased its stake in Advance Auto Parts by 6.3% in the 1st quarter. William Blair Investment Management LLC now owns 984,001 shares of the company’s stock worth $91,827,000 after buying an additional 57,963 shares during the period. 96.82% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on the stock. Wells Fargo & Co reaffirmed a “neutral” rating on shares of Advance Auto Parts in a research note on Tuesday, May 19th. Bank of America raised their price target on shares of Advance Auto Parts from $122.00 to $138.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Atlantic Securities downgraded shares of Advance Auto Parts from a “neutral” rating to an “underweight” rating and set a $118.00 price target on the stock. in a research note on Monday, June 15th. Morgan Stanley raised their price target on shares of Advance Auto Parts from $135.00 to $148.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Finally, Nomura raised their price target on shares of Advance Auto Parts from $107.00 to $130.00 in a research note on Wednesday, May 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. Advance Auto Parts has an average rating of “Hold” and an average target price of $144.05.

NYSE:AAP opened at $150.14 on Friday. Advance Auto Parts, Inc. has a fifty-two week low of $71.33 and a fifty-two week high of $171.43. The stock has a market capitalization of $10.37 billion, a P/E ratio of 27.35, a P/E/G ratio of 2.16 and a beta of 1.32. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.42 and a current ratio of 1.36. The company’s 50-day simple moving average is $142.60 and its 200-day simple moving average is $129.32.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, May 19th. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.84). Advance Auto Parts had a net margin of 4.10% and a return on equity of 13.20%. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the business posted $2.46 earnings per share. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. On average, research analysts forecast that Advance Auto Parts, Inc. will post 6.45 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Saturday, June 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Thursday, June 11th. Advance Auto Parts’s dividend payout ratio is currently 12.21%.

In other news, CAO Andrew E. Page sold 720 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $141.38, for a total value of $101,793.60. Following the sale, the chief accounting officer now directly owns 7,008 shares in the company, valued at approximately $990,791.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by company insiders.

Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.

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

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