The Valinor Management L.P. Acquires Shares of 593,911 Advance Auto Parts Inc. (AAP)

The Valinor Management L.P. Acquires Shares of 593,911 Advance Auto Parts Inc. (AAP)

Valinor Management L.P. acquired a new stake in shares of Advance Auto Parts Inc. (NYSE:AAP) during the third quarter, Holdings Channel reports. The fund acquired 593,911 shares of the company’s stock, valued at approximately $88,564,000. Advance Auto Parts comprises about 3.0% of Valinor Management L.P.’s investment portfolio, making the stock its 18th largest position.

Several other institutional investors also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in Advance Auto Parts by 31.9% in the second quarter. Van ECK Associates Corp now owns 637 shares of the company’s stock valued at $103,000 after buying an additional 154 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in Advance Auto Parts by 7,181.8% in the third quarter. Cornerstone Advisors Inc. now owns 801 shares of the company’s stock valued at $119,000 after buying an additional 790 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Advance Auto Parts by 95.6% in the third quarter. Penserra Capital Management LLC now owns 933 shares of the company’s stock valued at $138,000 after buying an additional 456 shares during the last quarter. Seven Bridges Advisors LLC acquired a new stake in Advance Auto Parts during the third quarter valued at $153,000. Finally, Mizuho Asset Management Co. Ltd. boosted its stake in Advance Auto Parts by 159.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,041 shares of the company’s stock valued at $168,000 after buying an additional 640 shares during the last quarter. Institutional investors and hedge funds own 98.67% of the company’s stock.

Shares of Advance Auto Parts Inc. (NYSE:AAP) opened at 173.98 on Thursday. Advance Auto Parts Inc. has a 12 month low of $131.59 and a 12 month high of $177.83. The stock has a 50 day moving average price of $172.11 and a 200 day moving average price of $159.46. The stock has a market capitalization of $12.81 billion, a P/E ratio of 28.51 and a beta of 1.13.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Monday, November 14th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Advance Auto Parts had a return on equity of 20.42% and a net margin of 4.75%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 EPS. On average, analysts anticipate that Advance Auto Parts Inc. will post $7.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 23rd were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Wednesday, December 21st. Advance Auto Parts’s dividend payout ratio is currently 3.94%.

Several equities research analysts recently weighed in on the company. Deutsche Bank AG boosted their target price on Advance Auto Parts to $192.00 in a research note on Wednesday. Guggenheim assumed coverage on Advance Auto Parts in a research note on Wednesday. They set a “neutral” rating for the company. Zacks Investment Research upgraded Advance Auto Parts from a “hold” rating to a “buy” rating and set a $196.00 target price for the company in a research note on Tuesday. Bank of America Corp. cut Advance Auto Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 13th. Finally, Cleveland Research upgraded Advance Auto Parts from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 11th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Advance Auto Parts presently has an average rating of “Buy” and an average price target of $172.66.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. 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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