Tensile Capital Management LLC Grows Position in Advance Auto Parts, Inc. (AAP)

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Tensile Capital Management LLC grew its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 6.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 621,657 shares of the company’s stock after acquiring an additional 36,457 shares during the period. Advance Auto Parts comprises 11.0% of Tensile Capital Management LLC’s investment portfolio, making the stock its biggest position. Tensile Capital Management LLC owned approximately 0.84% of Advance Auto Parts worth $73,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in AAP. Franklin Resources Inc. lifted its stake in shares of Advance Auto Parts by 50.5% during the 1st quarter. Franklin Resources Inc. now owns 5,144,383 shares of the company’s stock valued at $609,873,000 after buying an additional 1,725,493 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Advance Auto Parts by 0.9% during the 1st quarter. BlackRock Inc. now owns 4,538,370 shares of the company’s stock valued at $538,024,000 after buying an additional 40,426 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Advance Auto Parts by 5.8% during the 1st quarter. Artisan Partners Limited Partnership now owns 3,685,527 shares of the company’s stock valued at $436,919,000 after buying an additional 202,716 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Advance Auto Parts by 0.6% during the 1st quarter. Neuberger Berman Group LLC now owns 1,551,429 shares of the company’s stock valued at $183,014,000 after buying an additional 9,866 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Advance Auto Parts by 3.3% during the 1st quarter. Schroder Investment Management Group now owns 1,473,447 shares of the company’s stock valued at $174,677,000 after buying an additional 46,943 shares in the last quarter.

Advance Auto Parts opened at $135.70 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.40 and a current ratio of 1.61. The firm has a market cap of $10.00 billion, a PE ratio of 25.27, a P/E/G ratio of 1.82 and a beta of 1.09. Advance Auto Parts, Inc. has a fifty-two week low of $78.81 and a fifty-two week high of $143.42.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Tuesday, May 22nd. The company reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.13. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Advance Auto Parts had a net margin of 5.39% and a return on equity of 13.09%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company posted $1.60 EPS. equities analysts forecast that Advance Auto Parts, Inc. will post 6.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 6th. Stockholders of record on Friday, June 22nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Thursday, June 21st. Advance Auto Parts’s dividend payout ratio (DPR) is currently 4.47%.

A number of analysts recently commented on the stock. UBS Group restated a “buy” rating and set a $160.00 price target on shares of Advance Auto Parts in a research note on Friday, June 22nd. Bank of America upped their price target on shares of Advance Auto Parts from $86.00 to $103.00 and gave the company an “underperform” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Advance Auto Parts from $140.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, June 15th. Wells Fargo & Co upped their price target on shares of Advance Auto Parts from $120.00 to $140.00 and gave the company a “market perform” rating in a research note on Tuesday, June 12th. They noted that the move was a valuation call. Finally, TheStreet upgraded shares of Advance Auto Parts from a “c+” rating to a “b-” rating in a research note on Friday, June 1st. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $121.10.

Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.

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

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