Selway Asset Management increased its position in Advance Auto Parts, Inc. (NYSE:AAP) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,150 shares of the company’s stock after acquiring an additional 475 shares during the period. Advance Auto Parts makes up 2.8% of Selway Asset Management’s portfolio, making the stock its 10th biggest position. Selway Asset Management’s holdings in Advance Auto Parts were worth $4,118,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. DNB Asset Management AS acquired a new stake in shares of Advance Auto Parts in the 4th quarter worth about $4,109,000. Diversified Trust Co increased its holdings in shares of Advance Auto Parts by 4.1% in the 4th quarter. Diversified Trust Co now owns 1,539 shares of the company’s stock worth $242,000 after acquiring an additional 60 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Advance Auto Parts in the 4th quarter worth about $314,000. Morgan Stanley increased its holdings in shares of Advance Auto Parts by 138.7% in the 3rd quarter. Morgan Stanley now owns 532,494 shares of the company’s stock worth $89,634,000 after acquiring an additional 309,406 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Advance Auto Parts by 3,610.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 69,093 shares of the company’s stock worth $10,879,000 after acquiring an additional 67,231 shares during the period. 99.58% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts stock traded down $1.41 during trading hours on Thursday, hitting $175.40. 918,882 shares of the company traded hands, compared to its average volume of 1,204,030. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 1.73 and a beta of 1.00. The company has a current ratio of 1.57, a quick ratio of 0.44 and a debt-to-equity ratio of 0.29. Advance Auto Parts, Inc. has a 1-year low of $102.15 and a 1-year high of $186.15.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Tuesday, February 19th. The company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.03. Advance Auto Parts had a net margin of 4.42% and a return on equity of 14.64%. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts expect that Advance Auto Parts, Inc. will post 8.11 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.14%. Advance Auto Parts’s dividend payout ratio (DPR) is 3.37%.

AAP has been the topic of several research analyst reports. Zacks Investment Research raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $177.00 target price on the stock in a research note on Wednesday, December 19th. Barclays raised shares of Advance Auto Parts from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $170.00 to $205.00 in a research note on Monday, January 7th. Bank of America raised shares of Advance Auto Parts from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 9th. They noted that the move was a valuation call. Wells Fargo & Co reissued a “hold” rating and set a $175.00 target price on shares of Advance Auto Parts in a research note on Tuesday, February 19th. Finally, Credit Suisse Group reissued a “buy” rating and set a $195.00 target price on shares of Advance Auto Parts in a research note on Tuesday, February 19th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Advance Auto Parts has a consensus rating of “Buy” and an average price target of $187.44.

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About Advance Auto Parts

Advance Auto Parts, Inc provides 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 offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.

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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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