Commonwealth Equity Services LLC Raises Position in Advance Auto Parts, Inc. (NYSE:AAP)

Commonwealth Equity Services LLC raised its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 97.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 305,622 shares of the company's stock after buying an additional 150,604 shares during the period. Commonwealth Equity Services LLC owned about 0.51% of Advance Auto Parts worth $14,453,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in shares of Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company's stock valued at $26,000 after purchasing an additional 365 shares in the last quarter. Allworth Financial LP lifted its holdings in Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock worth $40,000 after buying an additional 818 shares during the period. Vision Financial Markets LLC bought a new stake in Advance Auto Parts during the 4th quarter valued at $42,000. KBC Group NV increased its holdings in shares of Advance Auto Parts by 29.1% in the 3rd quarter. KBC Group NV now owns 1,749 shares of the company's stock valued at $68,000 after acquiring an additional 394 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Advance Auto Parts by 198.3% in the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company's stock worth $74,000 after acquiring an additional 1,047 shares in the last quarter. Institutional investors own 88.75% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wedbush reiterated an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. Citigroup reduced their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research note 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. Wells Fargo & Company upped their price target on Advance Auto Parts from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada reduced their target price 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. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Advance Auto Parts presently has an average rating of "Hold" and a consensus price target of $45.13.

Advance Auto Parts Stock Performance

Advance Auto Parts stock traded down $0.22 during midday trading on Friday, hitting $37.43. 1,934,327 shares of the company were exchanged, compared to its average volume of 2,111,349. Advance Auto Parts, Inc. has a fifty-two week low of $33.08 and a fifty-two week high of $88.56. The firm has a market capitalization of $2.24 billion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. The business has a fifty day simple moving average of $43.30 and a two-hundred day simple moving average of $41.97. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's dividend payout ratio is currently -17.86%.

Insider Buying and Selling

In other news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was acquired at an average price 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 approximately $1,163,490.50. The trade was a 75.35 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Shane M. Okelly bought 1,500 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the purchase, the chief executive officer now owns 183,121 shares in the company, valued at approximately $6,737,021.59. This represents a 0.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.

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.