As Advance Auto Parts INC (AAP) Valuation Declined, Scharf Investments LLC Trimmed by $8.27 Million Its Holding

July 17, 2017 - By Marguerite Chambers

Investors sentiment increased to 1.05 in Q4 2016. Its up 0.03, from 1.02 in 2016Q3. It is positive, as 50 investors sold AAP shares while 161 reduced holdings. 75 funds opened positions while 146 raised stakes. 71.45 million shares or 0.43% less from 71.76 million shares in 2016Q3 were reported. 278 are owned by Finemark Commercial Bank And. Scharf Investments Limited Liability accumulated 1.27 million shares. Gilder Gagnon Howe And Limited Liability holds 0% or 472 shares. Axa owns 28,545 shares. Ing Groep Nv has 6,135 shares for 0.02% of their portfolio. Cypress Funds Ltd Liability Corporation holds 2.11% or 74,000 shares in its portfolio. Citigroup has 0% invested in Advance Auto Parts, Inc. (NYSE:AAP). Gemmer Asset Mgmt Ltd Liability Corporation owns 162 shares. 17,966 are owned by Lpl Fin Llc. Moreover, Comml Bank Of New York Mellon has 0.03% invested in Advance Auto Parts, Inc. (NYSE:AAP). Washington Comml Bank reported 5 shares. The West Virginia-based Security Natl Tru has invested 0% in Advance Auto Parts, Inc. (NYSE:AAP). Susquehanna Intl Group Incorporated Llp holds 0% of its portfolio in Advance Auto Parts, Inc. (NYSE:AAP) for 7,923 shares. Burney invested in 0.03% or 2,225 shares. Raymond James & Assoc owns 65,434 shares or 0.03% of their US portfolio.

Since March 7, 2017, it had 7 insider purchases, and 2 insider sales for $47.37 million activity. 367 shares were bought by Karaboutis Adriana, worth $49,648 on Thursday, June 1. Another trade for 1,895 shares valued at $250,481 was bought by LEE EUGENE I JR. The insider Carter William Harrison sold $411,113. Buss Brad W also bought $161,364 worth of Advance Auto Parts, Inc. (NYSE:AAP) on Tuesday, May 30. Tyson Charles E also sold $2.91 million worth of Advance Auto Parts, Inc. (NYSE:AAP) shares. 500 shares were bought by Slone Reuben E, worth $67,435.

Scharf Investments Llc decreased its stake in Advance Auto Parts Inc (AAP) by 3.71% based on its latest 2016Q4 regulatory filing with the SEC. Scharf Investments Llc sold 48,949 shares as the company’s stock declined 6.26% while stock markets rallied. The institutional investor held 1.27 million shares of the other specialty stores company at the end of 2016Q4, valued at $214.84M, down from 1.32M at the end of the previous reported quarter. Scharf Investments Llc who had been investing in Advance Auto Parts Inc for a number of months, seems to be less bullish one the $7.47B market cap company. The stock rose 0.31% or $0.32 reaching $102.36. About 1.04M shares traded. Advance Auto Parts, Inc. (NYSE:AAP) has risen 5.52% since July 17, 2016 and is uptrending. It has underperformed by 11.18% the S&P500.

Scharf Investments Llc, which manages about $2.69B and $4.31 billion US Long portfolio, upped its stake in Walgreens Boots Alliance Inc by 667,924 shares to 1.89M shares, valued at $156.28 million in 2016Q4, according to the filing.

More notable recent Advance Auto Parts, Inc. (NYSE:AAP) news were published by: Bizjournals.com which released: “Website tracking layoffs littered with comments from Advance Auto Parts …” on June 24, 2017, also Seekingalpha.com with their article: “Think Forward And Advance” published on July 10, 2017, Nasdaq.com published: “Advance Auto Parts Enters Oversold Territory (AAP)” on June 21, 2017. More interesting news about Advance Auto Parts, Inc. (NYSE:AAP) were released by: Seekingalpha.com and their article: “Can Advance Auto Parts, Inc. Turn Around?” published on July 05, 2017 as well as Usatoday.com‘s news article titled: “Advance Auto Parts cuts 475 jobs as sales waver” with publication date: June 27, 2017.

Advance Auto Parts, Inc. (NYSE:AAP) Ratings Coverage

Among 23 analysts covering Advance Auto Parts Inc. (NYSE:AAP), 13 have Buy rating, 3 Sell and 7 Hold. Therefore 57% are positive. Advance Auto Parts Inc. had 59 analyst reports since August 5, 2015 according to SRatingsIntel. The firm earned “Outperform” rating on Thursday, May 25 by RBC Capital Markets. On Wednesday, January 18 the stock rating was initiated by Guggenheim with “Neutral”. The stock has “Positive” rating by Susquehanna on Tuesday, November 15. The stock has “Outperform” rating by RBC Capital Markets on Tuesday, May 2. The company was upgraded on Tuesday, November 15 by Raymond James. The stock has “Overweight” rating by Atlantic Securities on Wednesday, December 14. The company was maintained on Friday, May 20 by Morgan Stanley. The rating was maintained by Goldman Sachs with “Neutral” on Wednesday, April 6. Citigroup maintained the stock with “Neutral” rating in Wednesday, August 17 report. The firm has “Buy” rating by Vetr given on Tuesday, August 25.

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