Charles Schwab Investment Management Inc. Decreases Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Charles Schwab Investment Management Inc. decreased its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 22.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 549,474 shares of the company's stock after selling 157,160 shares during the period. Charles Schwab Investment Management Inc. owned 0.92% of Advance Auto Parts worth $21,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AAP. Pzena Investment Management LLC boosted its stake in shares of Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company's stock valued at $113,409,000 after purchasing an additional 1,698,155 shares during the last quarter. Dorsal Capital Management LP lifted its holdings in Advance Auto Parts by 159.7% in the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company's stock valued at $79,162,000 after buying an additional 768,664 shares during the period. Dimensional Fund Advisors LP boosted its position in Advance Auto Parts by 76.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company's stock valued at $80,197,000 after acquiring an additional 547,696 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Advance Auto Parts during the 3rd quarter worth about $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Advance Auto Parts in the 3rd quarter worth about $14,684,000. 88.75% of the stock is currently owned by institutional investors.

Insider Transactions at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares in the company, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AAP shares. JPMorgan Chase & Co. cut their target price on Advance Auto Parts from $68.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, August 16th. Roth Mkm restated a "neutral" rating and set a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. DA Davidson reiterated a "neutral" rating and issued a $45.00 price objective on shares of Advance Auto Parts in a research note on Friday, November 15th. UBS Group increased their target price on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada decreased their price target on shares of Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Advance Auto Parts currently has a consensus rating of "Hold" and an average target price of $48.64.

Advance Auto Parts Stock Up 3.1 %

AAP traded up $1.36 during mid-day trading on Friday, reaching $44.97. 2,222,209 shares of the stock were exchanged, compared to its average volume of 2,875,838. Advance Auto Parts, Inc. has a 1 year low of $35.59 and a 1 year high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock has a market capitalization of $2.69 billion, a PE ratio of 61.60 and a beta of 1.21. The company has a 50 day moving average price of $39.51 and a two-hundred day moving average price of $50.85.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The company's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.82) EPS. As a group, research analysts anticipate that Advance Auto Parts, Inc. will post -0.51 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts's dividend payout ratio is presently 136.99%.

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.