Boston Partners Buys New Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Boston Partners acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,989 shares of the company's stock, valued at approximately $1,087,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Pzena Investment Management LLC raised its holdings in shares of Advance Auto Parts by 12.5% in the 4th quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock valued at $154,681,000 after purchasing an additional 362,239 shares in the last quarter. Royce & Associates LP raised its stake in 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. Thrivent Financial for Lutherans lifted its holdings in 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 buying an additional 1,246,384 shares during the period. Allianz Asset Management GmbH boosted its position 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 valued at $35,006,000 after acquiring an additional 525,504 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Advance Auto Parts by 18.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,919 shares of the company's stock worth $30,735,000 after acquiring an additional 100,445 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $34.15 per share, with a total value of $499,956.00. Following the completion of the acquisition, 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Shane M. Okelly purchased 1,500 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the transaction, the chief executive officer now directly owns 183,121 shares in the company, valued at $6,737,021.59. This trade represents a 0.83 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company lifted their target price 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. BMO Capital Markets cut their price objective on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. Barclays reduced their price objective on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, January 9th. Citigroup cut their price target 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. Finally, Evercore ISI reduced their price target on Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating on the stock in a research report on Tuesday, March 11th. One 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $45.13.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock traded down $0.67 on Tuesday, reaching $37.93. 204,701 shares of the stock were exchanged, compared to its average volume of 2,230,649. The business has a 50 day moving average price of $43.00 and a two-hundred day moving average price of $41.89. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 51.95, a PEG ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a twelve month low of $33.08 and a twelve month high of $86.46. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's dividend payout ratio (DPR) is currently -17.86%.

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.