State of Alaska Department of Revenue boosted its position in shares of Advance Auto Parts Inc (NYSE:AAP) by 12.3% during the second quarter, Holdings Channel reports. The fund owned 1,460 shares of the company’s stock after buying an additional 160 shares during the period. State of Alaska Department of Revenue’s holdings in Advance Auto Parts were worth $170,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Advance Auto Parts by 3,142.5% in the first quarter. BlackRock Inc. now owns 4,320,280 shares of the company’s stock worth $640,524,000 after buying an additional 4,187,042 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Advance Auto Parts by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,135,361 shares of the company’s stock worth $464,848,000 after buying an additional 983,616 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Advance Auto Parts by 51.2% in the first quarter. Point72 Asset Management L.P. now owns 1,538,878 shares of the company’s stock worth $228,154,000 after buying an additional 521,078 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Advance Auto Parts during the first quarter worth approximately $66,089,000. Finally, Causeway Capital Management LLC raised its position in shares of Advance Auto Parts by 44.4% in the first quarter. Causeway Capital Management LLC now owns 1,415,672 shares of the company’s stock worth $240,970,000 after buying an additional 435,424 shares during the last quarter.

Advance Auto Parts Inc (NYSE AAP) traded up 0.07% on Tuesday, reaching $109.57. The company’s stock had a trading volume of 264,028 shares. The company has a 50 day moving average of $112.57 and a 200 day moving average of $140.70. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 19.85 and a beta of 0.87. Advance Auto Parts Inc has a 52 week low of $99.13 and a 52 week high of $177.83.

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 firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the company earned $2.51 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts forecast that Advance Auto Parts Inc will post $6.38 earnings per share for the current year.

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AAP has been the subject of a number of research reports. Bank of America Corporation dropped their price target on Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a research note on Thursday, May 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $160.00 price objective (down from $185.00) on shares of Advance Auto Parts in a research note on Sunday, May 28th. Gabelli raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Thursday, April 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday, May 31st. Finally, Zacks Investment Research lowered Advance Auto Parts from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Five research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $149.06.

In other news, Director Adriana Karaboutis purchased 367 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were bought at an average cost of $135.28 per share, for a total transaction of $49,647.76. Following the completion of the purchase, the director now directly owns 3,043 shares of the company’s stock, valued at $411,657.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Greco purchased 16,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were purchased at an average price of $134.63 per share, for a total transaction of $2,154,080.00. Following the completion of the purchase, the insider now directly owns 111,030 shares of the company’s stock, valued at $14,947,968.90. The disclosure for this purchase can be found here. Insiders have acquired 369,462 shares of company stock worth $49,617,073 over the last 90 days. 4.50% of the stock is owned by insiders.

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.

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

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