Bragg Financial Advisors Inc Boosts Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Bragg Financial Advisors Inc grew its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 121.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 435,179 shares of the company's stock after purchasing an additional 239,068 shares during the period. Bragg Financial Advisors Inc owned about 0.73% of Advance Auto Parts worth $20,580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Pzena Investment Management LLC increased its position in Advance Auto Parts by 12.5% during the 4th quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock valued at $154,681,000 after buying an additional 362,239 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new position in Advance Auto Parts in the 4th quarter worth $75,055,000. Royce & Associates LP lifted its position in Advance Auto Parts by 30.4% during the 4th quarter. Royce & Associates LP now owns 1,403,004 shares of the company's stock worth $66,348,000 after acquiring an additional 327,417 shares during the period. Thrivent Financial for Lutherans grew 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. Finally, Geode Capital Management LLC raised its stake in shares of Advance Auto Parts by 13.0% in the fourth quarter. Geode Capital Management LLC now owns 938,231 shares of the company's stock worth $44,384,000 after purchasing an additional 108,226 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.

Advance Auto Parts Stock Up 3.0 %

NYSE AAP traded up $0.91 during trading hours on Friday, hitting $31.79. 1,617,625 shares of the company were exchanged, compared to its average volume of 2,220,315. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $79.41. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 43.55, a PEG ratio of 1.98 and a beta of 1.07. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average of $37.98 and a two-hundred day moving average of $41.09.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.25 dividend. 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 is presently -17.86%.

Insider Buying and Selling

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. bought 14,640 shares of Advance Auto Parts 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 completion of the acquisition, the director now owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This represents a 75.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Shane M. Okelly purchased 1,500 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $36.79 per share, for a total transaction of $55,185.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AAP. Wedbush restated an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a research report on Monday, March 3rd. Royal Bank of Canada decreased their price target on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. BMO Capital Markets lowered their target price on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a research note on Thursday, February 27th. Barclays reduced their target price on 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. Finally, Wells Fargo & Company boosted 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. One equities 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. Based on data from MarketBeat.com, Advance Auto Parts has an average rating of "Hold" and an average target price of $45.13.

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.