Miles Capital Inc. grew its stake in Advance Auto Parts Inc (NYSE:AAP) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,834 shares of the company’s stock after purchasing an additional 1 shares during the quarter. Miles Capital Inc.’s holdings in Advance Auto Parts were worth $214,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of Advance Auto Parts by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 358,722 shares of the company’s stock worth $41,825,000 after purchasing an additional 18,209 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Advance Auto Parts by 78.0% in the 2nd quarter. Wells Fargo & Company MN now owns 884,760 shares of the company’s stock valued at $103,155,000 after buying an additional 387,673 shares in the last quarter. Tobam purchased a new position in Advance Auto Parts in the 2nd quarter valued at about $118,000. Marshall Wace North America L.P. purchased a new position in Advance Auto Parts in the 1st quarter valued at about $2,028,000. Finally, ARGA Investment Management LP lifted its stake in Advance Auto Parts by 89.0% in the 2nd quarter. ARGA Investment Management LP now owns 53,300 shares of the company’s stock valued at $6,214,000 after buying an additional 25,100 shares in the last quarter.

Several equities research analysts recently issued reports on the company. Jefferies Group LLC upgraded Advance Auto Parts from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $150.00 to $130.00 in a report on Friday, July 7th. They noted that the move was a valuation call. Credit Suisse Group set a $150.00 price objective on Advance Auto Parts and gave the stock a “buy” rating in a research note on Monday, June 26th. Maxim Group reissued a “buy” rating on shares of Advance Auto Parts in a report on Thursday, June 29th. Deutsche Bank AG reissued a “buy” rating and set a $139.00 target price (down previously from $164.00) on shares of Advance Auto Parts in a report on Friday, July 21st. Finally, UBS AG restated a “buy” rating and issued a $155.00 target price (down previously from $170.00) on shares of Advance Auto Parts in a research report on Monday, August 7th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Advance Auto Parts currently has an average rating of “Hold” and an average price target of $123.08.

Advance Auto Parts Inc (NYSE:AAP) traded up 0.4832% during trading on Tuesday, hitting $99.8401. 116,302 shares of the company were exchanged. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 19.9321 and a beta of 0.92. The company has a 50-day moving average of $96.33 and a 200-day moving average of $121.44. Advance Auto Parts Inc has a 12 month low of $82.21 and a 12 month high of $177.83.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.07). Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the business posted $1.90 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. Analysts forecast that Advance Auto Parts Inc will post $5.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. Advance Auto Parts’s dividend payout ratio (DPR) is 4.80%.

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About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. 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.

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

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