Goodman Financial Corp Increases Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Goodman Financial Corp boosted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 302,495 shares of the company's stock after acquiring an additional 67,116 shares during the period. Advance Auto Parts accounts for about 3.1% of Goodman Financial Corp's investment portfolio, making the stock its 12th largest position. Goodman Financial Corp owned about 0.51% of Advance Auto Parts worth $14,305,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AAP. Thrivent Financial for Lutherans grew its position in shares of Advance Auto Parts by 2,662.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock worth $61,156,000 after purchasing an additional 1,246,384 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Advance Auto Parts by 244.7% in the 4th quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company's stock worth $35,006,000 after purchasing an additional 525,504 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Advance Auto Parts during the 3rd quarter valued at approximately $14,684,000. Pzena Investment Management LLC raised its position in shares of Advance Auto Parts by 12.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock valued at $154,681,000 after buying an additional 362,239 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Advance Auto Parts by 30.4% in the fourth quarter. Royce & Associates LP now owns 1,403,004 shares of the company's stock worth $66,348,000 after buying an additional 327,417 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company's stock.

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Analyst Ratings Changes

A number of analysts have issued reports on AAP shares. Evercore ISI reduced their price target on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. BMO Capital Markets reduced their target price on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company increased their price target on Advance Auto Parts from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Wedbush reaffirmed an "outperform" rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research note on Monday, March 3rd. Finally, Citigroup decreased their price objective on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $45.13.

Advance Auto Parts Trading Down 2.5 %

Shares of AAP traded down $0.97 during midday trading on Tuesday, hitting $37.62. The stock had a trading volume of 1,291,406 shares, compared to its average volume of 2,109,049. The stock's 50 day moving average is $43.00 and its 200 day moving average is $41.89. The firm has a market cap of $2.25 billion, a PE ratio of 51.53, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. Advance Auto Parts, Inc. has a 1 year low of $33.08 and a 1 year high of $87.36.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's dividend payout ratio (DPR) is currently -17.86%.

Insiders Place Their Bets

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. bought 14,640 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now owns 34,070 shares in the company, valued at $1,163,490.50. This trade represents a 75.35 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shane M. Okelly purchased 1,500 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the acquisition, 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 owned by insiders.

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.