Advance Auto Parts, Inc. (NYSE:AAP) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 13.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 938,231 shares of the company's stock after purchasing an additional 108,226 shares during the period. Geode Capital Management LLC owned approximately 1.57% of Advance Auto Parts worth $44,384,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. acquired a new stake in Advance Auto Parts during the 4th quarter worth approximately $960,000. New Age Alpha Advisors LLC purchased a new position in Advance Auto Parts in the fourth quarter valued at $4,683,000. Norges Bank acquired a new position in Advance Auto Parts during the 4th quarter worth $10,867,000. WINTON GROUP Ltd purchased a new stake in Advance Auto Parts during the 4th quarter worth about $541,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in Advance Auto Parts in the 4th quarter valued at about $34,586,000. Institutional investors and hedge funds own 88.75% of the company's stock.

Insiders Place Their Bets

In other news, CEO Shane M. Okelly purchased 1,500 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the acquisition, the chief executive officer now directly owns 183,121 shares in the company, valued at $6,737,021.59. This represents a 0.83 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $34.15 per share, with a total value of $499,956.00. Following the transaction, the director now owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by company insiders.

Advance Auto Parts Price Performance

Shares of NYSE AAP traded up $0.91 on Friday, hitting $31.79. The company's stock had a trading volume of 1,617,625 shares, compared to its average volume of 2,222,664. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The stock has a 50 day moving average of $37.68 and a 200-day moving average of $41.08. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $79.41. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 43.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.86%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AAP. Barclays cut their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 9th. Citigroup reduced their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Evercore ISI lowered their target price on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. BMO Capital Markets decreased their price target on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating for the company in a report on Thursday, February 27th. Finally, Wells Fargo & Company boosted their target price on Advance Auto Parts from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $45.13.

Advance Auto Parts Company 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.