Blueshift Asset Management LLC Buys 7,623 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Blueshift Asset Management LLC raised its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 107.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,717 shares of the company's stock after purchasing an additional 7,623 shares during the quarter. Blueshift Asset Management LLC's holdings in Advance Auto Parts were worth $696,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AAP. Pzena Investment Management LLC increased its position in shares of Advance Auto Parts by 140.3% during the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company's stock worth $113,409,000 after acquiring an additional 1,698,155 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Advance Auto Parts by 2,662.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock valued at $61,156,000 after purchasing an additional 1,246,384 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Advance Auto Parts by 244.7% during 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Advance Auto Parts in the third quarter worth approximately $14,684,000. 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 valued at $66,348,000 after purchasing an additional 327,417 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company's stock.

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Analysts Set New Price Targets

AAP has been the subject of a number of analyst reports. 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 report on Monday, January 6th. Wedbush reiterated an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a report on Monday, March 3rd. Evercore ISI cut 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 decreased their price objective on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating for the company in a research note on Thursday, February 27th. Finally, Royal Bank of Canada cut 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 note on Thursday, February 27th. 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $45.13.

Insiders Place Their Bets

In related news, CEO Shane M. Okelly bought 1,500 shares of Advance Auto Parts stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $36.79 per share, with a total value of $55,185.00. Following the acquisition, the chief executive officer now directly owns 183,121 shares of the company's stock, valued at $6,737,021.59. This represents a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were bought 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 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. Company insiders own 0.35% of the company's stock.

Advance Auto Parts Stock Performance

NYSE AAP traded up $1.22 during trading on Monday, hitting $38.68. 1,705,624 shares of the company's stock traded hands, compared to its average volume of 2,109,164. The business has a 50 day moving average of $43.00 and a 200-day moving average of $41.89. Advance Auto Parts, Inc. has a 12-month low of $33.08 and a 12-month high of $87.36. 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 $2.31 billion, a price-to-earnings ratio of 52.98, a PEG ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. Advance Auto Parts's 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.