Qsemble Capital Management LP Purchases 285 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Qsemble Capital Management LP increased its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,036 shares of the company’s stock after acquiring an additional 285 shares during the quarter. Qsemble Capital Management LP’s holdings in Advance Auto Parts were worth $256,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of Advance Auto Parts by 59.2% in the 2nd quarter. American Century Companies Inc. now owns 169,557 shares of the company’s stock valued at $10,738,000 after purchasing an additional 63,031 shares during the last quarter. Studio Investment Management LLC grew its holdings in Advance Auto Parts by 13.2% during the 2nd quarter. Studio Investment Management LLC now owns 3,683 shares of the company’s stock worth $233,000 after acquiring an additional 430 shares during the period. PFG Investments LLC bought a new stake in shares of Advance Auto Parts during the 2nd quarter valued at $216,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Advance Auto Parts in the 2nd quarter valued at $41,000. Finally, Arizona State Retirement System boosted its position in shares of Advance Auto Parts by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 16,687 shares of the company’s stock worth $1,057,000 after purchasing an additional 334 shares during the last quarter. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Trading Up 4.9 %

Advance Auto Parts stock opened at $41.43 on Friday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 60.04, a P/E/G ratio of 1.26 and a beta of 1.17. The firm has a 50-day moving average of $55.00 and a 200-day moving average of $66.44. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. Advance Auto Parts, Inc. has a one year low of $37.51 and a one year high of $88.56.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 earnings per share. On average, equities analysts expect that Advance Auto Parts, Inc. will post 2.19 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Friday, October 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 144.93%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AAP shares. Wedbush restated a “neutral” rating and set a $55.00 target price (down previously from $65.00) on shares of Advance Auto Parts in a report on Friday, August 23rd. StockNews.com upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Mizuho reissued a “neutral” rating and issued a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday. Bank of America raised their price objective on Advance Auto Parts from $51.00 to $55.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company decreased their target price on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.54.

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.