Paloma Partners Management Co Sells 3,639 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

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Paloma Partners Management Co decreased its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 40.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,266 shares of the company’s stock after selling 3,639 shares during the quarter. Paloma Partners Management Co’s holdings in Advance Auto Parts were worth $714,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC increased its position in shares of Advance Auto Parts by 17.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,372 shares of the company’s stock valued at $593,000 after buying an additional 645 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Advance Auto Parts during the 2nd quarter worth about $11,507,000. Intrinsic Edge Capital Management LLC increased its holdings in Advance Auto Parts by 661.4% during the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 76,141 shares of the company’s stock worth $10,332,000 after purchasing an additional 66,141 shares in the last quarter. Natixis increased its holdings in Advance Auto Parts by 23.7% during the 2nd quarter. Natixis now owns 7,496 shares of the company’s stock worth $1,017,000 after purchasing an additional 1,437 shares in the last quarter. Finally, First Republic Investment Management Inc. increased its holdings in Advance Auto Parts by 17.8% during the 2nd quarter. First Republic Investment Management Inc. now owns 3,111 shares of the company’s stock worth $422,000 after purchasing an additional 470 shares in the last quarter.

In other Advance Auto Parts news, Director Nigel Travis bought 1,250 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was bought at an average cost of $159.70 per share, with a total value of $199,625.00. Following the completion of the transaction, the director now directly owns 1,250 shares in the company, valued at approximately $199,625. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

AAP has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $164.00 price objective for the company in a research note on Thursday, August 9th. Argus set a $155.00 target price on shares of Advance Auto Parts and gave the company a “buy” rating in a research note on Friday, July 6th. ValuEngine upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. UBS Group reiterated a “buy” rating and issued a $160.00 target price on shares of Advance Auto Parts in a research note on Friday, June 22nd. Finally, Guggenheim set a $156.00 price target on shares of Advance Auto Parts and gave the company a “buy” rating in a report on Friday, July 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $149.84.

Shares of NYSE:AAP traded up $4.08 during mid-day trading on Friday, reaching $165.12. 1,096,358 shares of the company’s stock were exchanged, compared to its average volume of 1,126,521. The firm has a market cap of $12.47 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.48 and a current ratio of 1.63. Advance Auto Parts, Inc. has a twelve month low of $78.81 and a twelve month high of $171.50.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, August 14th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.11. Advance Auto Parts had a net margin of 5.68% and a return on equity of 13.43%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. Advance Auto Parts’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts forecast that Advance Auto Parts, Inc. will post 6.96 EPS for the current year.

Advance Auto Parts declared that its board has authorized a stock repurchase program on Tuesday, August 14th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, October 5th. Shareholders of record on Friday, September 21st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.15%. The ex-dividend date was Thursday, September 20th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 4.47%.

About Advance Auto Parts

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

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