Advance Auto Parts, Inc. (NYSE:AAP) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 18.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 649,919 shares of the company's stock after buying an additional 100,445 shares during the period. Charles Schwab Investment Management Inc. owned about 1.09% of Advance Auto Parts worth $30,735,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its stake in shares of Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company's stock valued at $26,000 after acquiring an additional 365 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company's stock valued at $40,000 after buying an additional 818 shares during the period. KBC Group NV grew its position in shares of Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company's stock worth $68,000 after buying an additional 394 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Advance Auto Parts by 198.3% during the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company's stock worth $74,000 after buying an additional 1,047 shares during the period. Finally, AM Squared Ltd raised its holdings in Advance Auto Parts by 100.0% in the third quarter. AM Squared Ltd now owns 2,000 shares of the company's stock valued at $78,000 after acquiring an additional 1,000 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research firms recently commented on AAP. BMO Capital Markets dropped their target price on 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. Wedbush restated an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. Citigroup dropped 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 research note on Thursday, February 27th. Barclays cut their price objective 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. Finally, Wells Fargo & Company increased their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Advance Auto Parts has a consensus rating of "Hold" and a consensus target price of $45.13.

Insider Buying and Selling at Advance Auto Parts

In related news, CEO Shane M. Okelly purchased 1,500 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $36.79 per share, for a total transaction 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 trade represents a 0.83 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the acquisition, the director now owns 34,070 shares of the company's stock, valued at $1,163,490.50. This represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is owned by corporate insiders.

Advance Auto Parts Stock Performance

Advance Auto Parts stock traded up $0.68 during trading hours on Thursday, reaching $37.60. 1,105,401 shares of the stock were exchanged, compared to its average volume of 2,108,310. Advance Auto Parts, Inc. has a 52-week low of $33.08 and a 52-week high of $88.56. The stock has a market cap of $2.25 billion, a P/E ratio of 51.55, a P/E/G ratio of 1.98 and a beta of 1.27. 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 firm's 50 day moving average is $43.46 and its 200 day moving average is $42.00.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.66%. Advance Auto Parts's payout ratio is currently -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.