Envestnet Asset Management Inc. lifted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 73.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,225 shares of the company’s stock after buying an additional 11,918 shares during the period. Envestnet Asset Management Inc.’s holdings in Advance Auto Parts were worth $4,813,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Advance Auto Parts by 0.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,212 shares of the company’s stock worth $3,788,000 after buying an additional 66 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in shares of Advance Auto Parts by 3.1% during the 1st quarter. Contravisory Investment Management Inc. now owns 2,468 shares of the company’s stock worth $421,000 after buying an additional 74 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Advance Auto Parts by 0.9% during the 4th quarter. CIBC Asset Management Inc now owns 8,487 shares of the company’s stock worth $1,336,000 after buying an additional 75 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of Advance Auto Parts by 4.5% during the 1st quarter. Trust Co. of Vermont now owns 1,888 shares of the company’s stock worth $322,000 after buying an additional 81 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Advance Auto Parts by 1.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,815 shares of the company’s stock worth $1,504,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Shares of Advance Auto Parts stock opened at $151.80 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.31. Advance Auto Parts, Inc. has a twelve month low of $133.02 and a twelve month high of $186.15. The firm has a market cap of $10.89 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.60 and a beta of 0.98.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.10. Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the company earned $2.10 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Advance Auto Parts, Inc. will post 8.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, June 20th. This represents a $0.24 dividend on an annualized basis and a yield of 0.16%. Advance Auto Parts’s dividend payout ratio (DPR) is 3.37%.

A number of analysts have recently commented on AAP shares. Zacks Investment Research upgraded Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Credit Suisse Group restated a “buy” rating and set a $195.00 price objective on shares of Advance Auto Parts in a report on Tuesday, February 19th. ValuEngine downgraded Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Tuesday, June 11th. Jefferies Financial Group decreased their price target on shares of Advance Auto Parts to $195.00 and set a “buy” rating for the company in a research report on Wednesday, February 20th. Finally, Royal Bank of Canada decreased their price target on shares of Advance Auto Parts to $178.00 and set an “outperform” rating for the company in a research report on Tuesday, May 14th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $190.71.

COPYRIGHT VIOLATION WARNING: This news story was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The correct version of this news story can be read at https://www.watchlistnews.com/advance-auto-parts-inc-nyseaap-shares-bought-by-envestnet-asset-management-inc/3043237.html.

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.

Recommended Story: Gross Domestic Product (GDP)

Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAP).

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

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.