Chevy Chase Trust Holdings Inc. decreased its stake in shares of Advance Auto Parts Inc. (NYSE:AAP) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,450 shares of the company’s stock after selling 1,386 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.08% of Advance Auto Parts worth $9,164,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Marshall Wace LLP increased its stake in shares of Advance Auto Parts by 119.5% in the second quarter. Marshall Wace LLP now owns 791,126 shares of the company’s stock valued at $127,870,000 after buying an additional 430,709 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Advance Auto Parts by 100.9% in the second quarter. Ameriprise Financial Inc. now owns 676,242 shares of the company’s stock valued at $109,334,000 after buying an additional 339,693 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Advance Auto Parts during the second quarter valued at $43,021,000. Melvin Capital Management LP increased its stake in shares of Advance Auto Parts by 66.7% in the second quarter. Melvin Capital Management LP now owns 625,000 shares of the company’s stock valued at $101,019,000 after buying an additional 250,000 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Advance Auto Parts by 907.1% in the second quarter. FMR LLC now owns 268,050 shares of the company’s stock valued at $43,325,000 after buying an additional 241,433 shares during the last quarter. 99.99% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Advance Auto Parts Inc. (NYSE:AAP) traded down 0.05% during mid-day trading on Monday, hitting $170.77. The company’s stock had a trading volume of 999,406 shares. The company has a 50-day moving average price of $148.06 and a 200-day moving average price of $154.52. Advance Auto Parts Inc. has a 1-year low of $131.59 and a 1-year high of $174.31. The stock has a market cap of $12.58 billion, a PE ratio of 27.99 and a beta of 1.04.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Monday, November 14th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.02. The firm earned $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Advance Auto Parts had a return on equity of 20.42% and a net margin of 4.75%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 EPS. Analysts predict that Advance Auto Parts Inc. will post $7.25 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 23rd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Wednesday, December 21st. Advance Auto Parts’s dividend payout ratio (DPR) is presently 3.94%.

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AAP has been the topic of several recent analyst reports. Jefferies Group reaffirmed a “hold” rating and set a $150.00 target price on shares of Advance Auto Parts in a research note on Wednesday, October 19th. Zacks Investment Research raised Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th. Wedbush reissued an “outperform” rating and issued a $175.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 5th. Susquehanna assumed coverage on Advance Auto Parts in a research note on Thursday, August 25th. They issued a “neutral” rating and a $158.00 price objective on the stock. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $171.00 price objective on shares of Advance Auto Parts in a research note on Sunday, October 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Advance Auto Parts currently has a consensus rating of “Hold” and an average price target of $166.81.

In other news, Director Jeffrey C. Smith bought 70,000 shares of the stock in a transaction on Friday, September 2nd. The stock was purchased at an average price of $158.77 per share, for a total transaction of $11,113,900.00. Following the acquisition, the director now owns 1,271 shares in the company, valued at $201,796.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert B. Cushing bought 1,500 shares of the stock in a transaction on Tuesday, August 30th. The shares were purchased at an average price of $156.66 per share, with a total value of $234,990.00. Following the acquisition, the executive vice president now owns 6,362 shares in the company, valued at approximately $996,670.92. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. 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.

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