ACR Alpine Capital Research LLC decreased its position in Advance Auto Parts (NYSE:AAP) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,283,555 shares of the company’s stock after selling 42,716 shares during the quarter. Advance Auto Parts accounts for 8.3% of ACR Alpine Capital Research LLC’s portfolio, making the stock its 2nd biggest holding. ACR Alpine Capital Research LLC’s holdings in Advance Auto Parts were worth $152,166,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in AAP. Franklin Resources Inc. boosted its holdings in shares of Advance Auto Parts by 533.5% in the 4th quarter. Franklin Resources Inc. now owns 3,418,890 shares of the company’s stock worth $340,831,000 after purchasing an additional 2,879,215 shares during the period. Arlington Value Capital LLC boosted its holdings in shares of Advance Auto Parts by 1,435.9% in the 4th quarter. Arlington Value Capital LLC now owns 499,283 shares of the company’s stock worth $49,773,000 after purchasing an additional 466,776 shares during the period. Mackenzie Financial Corp purchased a new position in shares of Advance Auto Parts in the 4th quarter worth approximately $41,392,000. Renaissance Technologies LLC boosted its holdings in shares of Advance Auto Parts by 334.2% in the 4th quarter. Renaissance Technologies LLC now owns 500,850 shares of the company’s stock worth $49,930,000 after purchasing an additional 385,500 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Advance Auto Parts by 71.0% in the 4th quarter. Millennium Management LLC now owns 780,735 shares of the company’s stock worth $77,831,000 after purchasing an additional 324,115 shares during the period.
A number of equities analysts have recently commented on the company. Credit Suisse Group cut Advance Auto Parts to a “hold” rating and set a $122.00 target price for the company. in a report on Wednesday. Zacks Investment Research upgraded Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Tuesday. Atlantic Securities upgraded Advance Auto Parts from a “neutral” rating to an “overweight” rating and set a $140.00 price objective for the company in a report on Tuesday, May 8th. Wedbush restated a “buy” rating and set a $130.00 price objective (up previously from $115.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Finally, Argus restated a “buy” rating and set a $114.00 price objective (down previously from $135.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. Advance Auto Parts presently has an average rating of “Hold” and a consensus price target of $115.33.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.12. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. Advance Auto Parts had a return on equity of 12.45% and a net margin of 5.07%. Advance Auto Parts’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 EPS. research analysts expect that Advance Auto Parts will post 6.7 earnings per share for the current fiscal year.
In other Advance Auto Parts news, Director John C. Brouillard sold 1,745 shares of Advance Auto Parts stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $116.08, for a total transaction of $202,559.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Greco bought 8,640 shares of the firm’s stock in a transaction on Wednesday, March 21st. The shares were purchased at an average cost of $115.77 per share, with a total value of $1,000,252.80. Following the completion of the transaction, the insider now owns 135,081 shares in the company, valued at $15,638,327.37. The disclosure for this purchase can be found here. Insiders own 4.50% of the company’s stock.
Advance Auto Parts Profile
Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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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