Thrax Management buys $2,843,082 stake in Advance Auto Parts (AAP)

Advance Auto Parts (AAP) : Thrax Management scooped up 12,221 additional shares in Advance Auto Parts during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 17,127 shares of Advance Auto Parts which is valued at $2,843,082.Advance Auto Parts makes up approximately 0.83% of Thrax Management’s portfolio.

Other Hedge Funds, Including , Bokf Na reduced its stake in AAP by selling 1,798 shares or 26.51% in the most recent quarter. The Hedge Fund company now holds 4,985 shares of AAP which is valued at $827,510. Advance Auto Parts makes up approx 0.03% of Bokf Na’s portfolio. Schwartz Investment Counsel Inc sold out all of its stake in AAP during the most recent quarter. The investment firm sold 20,200 shares of AAP which is valued $3,411,376.Sheaff Brock Investment Advisors reduced its stake in AAP by selling 300 shares or 12.0% in the most recent quarter. The Hedge Fund company now holds 2,200 shares of AAP which is valued at $375,078. Advance Auto Parts makes up approx 0.05% of Sheaff Brock Investment Advisors’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in AAP in the latest quarter, The investment management firm added 18,108 additional shares and now holds a total of 107,490 shares of Advance Auto Parts which is valued at $18,325,970. Advance Auto Parts makes up approx 0.06% of State Board Of Administration Of Florida Retirement System’s portfolio. Gratus Capital added AAP to its portfolio by purchasing 11,476 company shares during the most recent quarter which is valued at $1,935,427. Advance Auto Parts makes up approx 0.28% of Gratus Capital’s portfolio.

Advance Auto Parts opened for trading at $156.83 and hit $158.39 on the upside on Monday, eventually ending the session at $157.67, with a gain of 0.54% or 0.84 points. The heightened volatility saw the trading volume jump to 5,50,106 shares. Company has a market cap of $11,611 M.

On the company’s financial health, Advance Auto Parts reported $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.21 based on the information available during the earnings call on Aug 16, 2016. Analyst had a consensus of $2.11. The company had revenue of $2256.20 million for the quarter, compared to analysts expectations of $2243.50 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.27 EPS.

Investors should note that on Aug 16, 2016, Advance Auto Parts announced a cash dividend of $0.0600. The company’s management has announced Sep 21, 2016 as the ex-dividend date and fixed the record date on Sep 23, 2016. The payable date has been fixed on Oct 7, 2016.

Many Wall Street Analysts have commented on Advance Auto Parts. Susquehanna Initiated Advance Auto Parts on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $158.Company shares were Reiterated by Wedbush on Aug 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 175 from a previous price target of $160 .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 .

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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