Capital World Investors Cuts Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Capital World Investors reduced its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,944,740 shares of the company's stock after selling 249,991 shares during the quarter. Capital World Investors owned approximately 3.26% of Advance Auto Parts worth $91,967,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cooper Creek Partners Management LLC bought a new position in Advance Auto Parts during the fourth quarter valued at $75,055,000. Marshall Wace LLP grew its stake in Advance Auto Parts by 2,585.1% during the fourth quarter. Marshall Wace LLP now owns 1,353,912 shares of the company's stock valued at $64,026,000 after acquiring an additional 1,303,488 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Advance Auto Parts by 2,662.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock worth $61,156,000 after purchasing an additional 1,246,384 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Advance Auto Parts in the fourth quarter worth $34,586,000. Finally, Allianz Asset Management GmbH boosted its stake in Advance Auto Parts by 244.7% during the fourth quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company's stock valued at $35,006,000 after buying an additional 525,504 shares during the period. Hedge funds and other institutional investors own 88.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AAP. Barclays decreased their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, January 9th. Wedbush restated an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a report on Monday, March 3rd. Evercore ISI cut their price objective on shares of 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. BMO Capital Markets dropped 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 report on Thursday, February 27th. Finally, Royal Bank of Canada reduced their target price on shares of 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. One 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. Based on data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of "Hold" and an average target price of $45.13.

Insider Buying and Selling

In other news, CEO Shane M. Okelly purchased 1,500 shares of the business's stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 183,121 shares of the company's stock, valued at approximately $6,737,021.59. This trade 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 this link. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of Advance Auto Parts stock in a transaction dated 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 acquisition, 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 position. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by company insiders.

Advance Auto Parts Price Performance

AAP traded down $0.10 during trading hours on Friday, hitting $32.84. The company's stock had a trading volume of 1,288,154 shares, compared to its average volume of 2,222,972. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 44.98, a P/E/G ratio of 1.98 and a beta of 1.07. The business's 50-day moving average price is $36.22 and its 200-day moving average price is $40.85. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $77.49.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's payout ratio is -17.86%.

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.