Gateway Investment Advisers LLC increased its stake in shares of Advance Auto Parts Inc (NYSE:AAP) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,869 shares of the company’s stock after buying an additional 144 shares during the period. Gateway Investment Advisers LLC’s holdings in Advance Auto Parts were worth $684,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Cleararc Capital Inc. raised its stake in Advance Auto Parts by 0.4% in the first quarter. Cleararc Capital Inc. now owns 1,802 shares of the company’s stock valued at $267,000 after buying an additional 7 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares during the period. Strs Ohio raised its stake in shares of Advance Auto Parts by 0.7% in the first quarter. Strs Ohio now owns 3,955 shares of the company’s stock worth $586,000 after buying an additional 28 shares during the period. Pacer Advisors Inc. raised its stake in shares of Advance Auto Parts by 3.0% in the first quarter. Pacer Advisors Inc. now owns 1,517 shares of the company’s stock worth $225,000 after buying an additional 44 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Advance Auto Parts by 3.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,964 shares of the company’s stock worth $272,000 after buying an additional 61 shares during the period.

Advance Auto Parts Inc (NYSE:AAP) opened at 103.17 on Tuesday. The company has a 50 day moving average of $116.11 and a 200 day moving average of $143.42. Advance Auto Parts Inc has a 52-week low of $99.13 and a 52-week high of $177.83. The company has a market capitalization of $7.61 billion, a PE ratio of 18.69 and a beta of 0.89.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Wednesday, May 24th. The company reported $1.60 EPS for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the firm posted $2.51 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts forecast that Advance Auto Parts Inc will post $6.42 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 23rd were issued a $0.06 dividend. The ex-dividend date was Wednesday, June 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Advance Auto Parts’s dividend payout ratio is presently 4.36%.

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A number of brokerages have commented on AAP. Deutsche Bank AG restated a “buy” rating and set a $139.00 price target (down previously from $164.00) on shares of Advance Auto Parts in a research note on Friday. Credit Suisse Group restated an “outperform” rating and set a $135.00 price target (down previously from $150.00) on shares of Advance Auto Parts in a research note on Monday, July 17th. BTIG Research reiterated a “sell” rating and issued a $90.00 target price (down previously from $109.00) on shares of Advance Auto Parts in a research note on Thursday, July 13th. BidaskClub lowered shares of Advance Auto Parts from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Finally, Bank of America Corporation lowered shares of Advance Auto Parts from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $150.00 to $90.00 in a research note on Friday, July 7th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $149.94.

In other Advance Auto Parts news, insider Thomas Greco purchased 16,000 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were bought at an average cost of $134.63 per share, with a total value of $2,154,080.00. Following the acquisition, the insider now owns 111,030 shares in the company, valued at $14,947,968.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adriana Karaboutis purchased 367 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was acquired at an average cost of $135.28 per share, for a total transaction of $49,647.76. Following the completion of the acquisition, the director now owns 3,043 shares in the company, valued at approximately $411,657.04. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 369,462 shares of company stock worth $49,617,073. 4.50% of the stock is owned by insiders.

Advance Auto Parts Company Profile

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.

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

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