Rmb Capital Management Lowers stake in Advance Auto Parts (AAP)

Advance Auto Parts (AAP) : Rmb Capital Management reduced its stake in Advance Auto Parts by 1.15% during the most recent quarter end. The investment management company now holds a total of 111,709 shares of Advance Auto Parts which is valued at $18,839,723 after selling 1,304 shares in Advance Auto Parts , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Advance Auto Parts makes up approximately 1.29% of Rmb Capital Management’s portfolio.

Other Hedge Funds, Including , Navellier Associates Inc reduced its stake in AAP by selling 6 shares or 0.48% in the most recent quarter. The Hedge Fund company now holds 1,243 shares of AAP which is valued at $209,632. Advance Auto Parts makes up approx 0.03% of Navellier Associates Inc’s portfolio.World Asset Management Inc boosted its stake in AAP in the latest quarter, The investment management firm added 94 additional shares and now holds a total of 7,196 shares of Advance Auto Parts which is valued at $1,213,605. Advance Auto Parts makes up approx 0.05% of World Asset Management Inc’s portfolio.Bremer Trust National Association reduced its stake in AAP by selling 130 shares or 6.12% in the most recent quarter. The Hedge Fund company now holds 1,993 shares of AAP which is valued at $330,898. Advance Auto Parts makes up approx 0.09% of Bremer Trust National Association’s portfolio.

Advance Auto Parts closed down -1.61 points or -0.94% at $168.88 with 11,11,884 shares getting traded on Monday. Post opening the session at $170.49, the shares hit an intraday low of $168.75 and an intraday high of $171.31 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 $2.51 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on May 19, 2016. Analyst had a consensus of $2.61. The company had revenue of $2979.80 million for the quarter, compared to analysts expectations of $3004.77 million. The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.39 EPS.

Many Wall Street Analysts have commented on Advance Auto Parts. Company shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Buy”, Firm has raised the Price Target to $ 180 from a previous price target of $160 .Shares were Reiterated by RBC Capital Mkts on May 20, 2016 to “Outperform” and Lowered the Price Target to $ 157 from a previous price target of $170 .Advance Auto Parts was Upgraded by Goldman to ” Buy” on May 6, 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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