Advance Auto Parts, Inc. (NYSE:AAP) Shares Bought by Royce & Associates LP

Royce & Associates LP lifted its position in Advance Auto Parts, Inc. (NYSE:AAP) by 30.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,403,004 shares of the company’s stock after acquiring an additional 327,417 shares during the quarter. Advance Auto Parts accounts for approximately 0.6% of Royce & Associates LP’s holdings, making the stock its 24th largest position. Royce & Associates LP’s holdings in Advance Auto Parts were worth $66,348,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. one8zero8 LLC acquired a new position in shares of Advance Auto Parts in the 4th quarter worth approximately $2,188,000. Commonwealth Equity Services LLC lifted its holdings in shares of Advance Auto Parts by 97.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 305,622 shares of the company’s stock worth $14,453,000 after purchasing an additional 150,604 shares during the last quarter. Swiss National Bank raised its stake in Advance Auto Parts by 0.9% during the 4th quarter. Swiss National Bank now owns 117,400 shares of the company’s stock valued at $5,552,000 after acquiring an additional 1,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Advance Auto Parts by 58.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,058 shares of the company’s stock valued at $28,282,000 after purchasing an additional 221,445 shares during the period. Finally, HighTower Advisors LLC acquired a new position in shares of Advance Auto Parts during the 4th quarter valued at $262,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AAP. Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research report on Monday, March 3rd. Evercore ISI lowered their price target on Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Royal Bank of Canada lowered their price target on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets lowered their price target on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lifted their target price on Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.13.

Insider Activity

In other news, Director Eugene I. Lee, Jr. acquired 14,640 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $34.15 per share, with a total value of $499,956.00. Following the completion of the transaction, the director now owns 34,070 shares in the company, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Shane M. Okelly acquired 1,500 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $36.79 per share, with a total value of $55,185.00. Following the transaction, the chief executive officer now owns 183,121 shares of the company’s stock, valued at approximately $6,737,021.59. The trade was a 0.83 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate insiders.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $37.63 on Friday. Advance Auto Parts, Inc. has a 1-year low of $33.08 and a 1-year high of $88.56. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 51.55, a P/E/G ratio of 1.98 and a beta of 1.27. The stock’s fifty day simple moving average is $44.00 and its 200-day simple moving average is $42.18.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.66%. Advance Auto Parts’s dividend payout ratio is -17.86%.

Advance Auto Parts Profile

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.