Pagoda Asset Management Lp Lowers stake in Advance Auto Parts (AAP)

Advance Auto Parts (AAP) : Pagoda Asset Management Lp reduced its stake in Advance Auto Parts by 10.92% during the most recent quarter end. The investment management company now holds a total of 129,772 shares of Advance Auto Parts which is valued at $18,544,419 after selling 15,905 shares in Advance Auto Parts , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Advance Auto Parts makes up approximately 7.27% of Pagoda Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Putnam Investments reduced its stake in AAP by selling 520,139 shares or 91.1% in the most recent quarter. The Hedge Fund company now holds 50,813 shares of AAP which is valued at $7,261,178. Advance Auto Parts makes up approx 0.02% of Putnam Investments’s portfolio. Monetary Management Group Inc sold out all of its stake in AAP during the most recent quarter. The investment firm sold 50 shares of AAP which is valued $7,291.Norinchukin Bank The boosted its stake in AAP in the latest quarter, The investment management firm added 84 additional shares and now holds a total of 3,942 shares of Advance Auto Parts which is valued at $542,183. Advance Auto Parts makes up approx 0.01% of Norinchukin Bank The’s portfolio.Aperio Group reduced its stake in AAP by selling 1,602 shares or 6.36% in the most recent quarter. The Hedge Fund company now holds 23,606 shares of AAP which is valued at $3,260,933. Advance Auto Parts makes up approx 0.02% of Aperio Group’s portfolio.

Advance Auto Parts closed down -3.75 points or -2.25% at $162.57 with 12,26,554 shares getting traded on Monday. Post opening the session at $166.12, the shares hit an intraday low of $162.225 and an intraday high of $166.73 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Advance Auto Parts reported $1.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 14, 2016. Analyst had a consensus of $1.71. The company had revenue of $2248.90 million for the quarter, compared to analysts expectations of $2198.35 million. The company’s revenue was down -2.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.95 EPS.

Investors should note that on Nov 14, 2016, Advance Auto Parts announced a cash dividend of $0.0600. The company’s management has announced Dec 21, 2016 as the ex-dividend date and fixed the record date on Dec 23, 2016. The payable date has been fixed on Jan 6, 2017.

Many Wall Street Analysts have commented on Advance Auto Parts. Advance Auto Parts was Upgraded by Susquehanna to ” Positive” on Nov 15, 2016. Company shares were Reiterated by RBC Capital Mkts on Nov 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 175 from a previous price target of $174 .Advance Auto Parts was Upgraded by Raymond James to ” Strong Buy” on Nov 15, 2016.

Advance Auto Parts Inc. is a provider of automotive aftermarket parts. 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. The company serves its do-it-for-me (commercial) customers and do-it-yourself (DIY) customers through a variety of channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites. As of January 3 2015 the Company’s operations are comprised of 5261 stores and 111 distribution branches which operate in the United States Canada Puerto Rico and the United States Virgin Islands primarily under the trade names Advance Auto Parts Carquest Autopart International and Worldpac.

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