Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 376,613 shares of the company's stock, valued at approximately $14,684,000. Connor Clark & Lunn Investment Management Ltd. owned 0.63% of Advance Auto Parts as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Diversified Trust Co grew its position in Advance Auto Parts by 3.5% in the 2nd quarter. Diversified Trust Co now owns 6,787 shares of the company's stock worth $430,000 after purchasing an additional 232 shares during the last quarter. OLD National Bancorp IN grew its position in Advance Auto Parts by 6.8% in the 2nd quarter. OLD National Bancorp IN now owns 3,697 shares of the company's stock worth $234,000 after purchasing an additional 237 shares during the last quarter. Sei Investments Co. grew its position in Advance Auto Parts by 0.5% in the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company's stock worth $3,779,000 after purchasing an additional 277 shares during the last quarter. Qsemble Capital Management LP grew its position in Advance Auto Parts by 7.6% in the 2nd quarter. Qsemble Capital Management LP now owns 4,036 shares of the company's stock worth $256,000 after purchasing an additional 285 shares during the last quarter. Finally, Everence Capital Management Inc. grew its position in Advance Auto Parts by 3.7% in the 3rd quarter. Everence Capital Management Inc. now owns 8,330 shares of the company's stock worth $325,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company's stock.

Advance Auto Parts Trading Up 0.3 %

Shares of NYSE:AAP traded up $0.11 during mid-day trading on Thursday, hitting $38.74. The stock had a trading volume of 245,629 shares, compared to its average volume of 2,055,162. 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 company has a market cap of $2.31 billion, a PE ratio of 52.92 and a beta of 1.17. Advance Auto Parts, Inc. has a 12-month low of $35.59 and a 12-month high of $88.56. The company's 50 day moving average is $39.05 and its 200-day moving average is $53.49.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm's revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.82) EPS. On average, sell-side analysts predict that Advance Auto Parts, Inc. will post -0.52 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.58%. Advance Auto Parts's dividend payout ratio (DPR) is presently 136.99%.

Wall Street Analyst Weigh In

Several research firms have commented on AAP. UBS Group upped their target price on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Friday, November 15th. The Goldman Sachs Group decreased their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating for the company in a report on Friday, November 15th. Mizuho reiterated a "neutral" rating and issued a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Evercore ISI increased their price objective on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a "hold" rating in a report on Wednesday. Finally, Wedbush reiterated an "outperform" rating and issued a $55.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Advance Auto Parts presently has an average rating of "Hold" and an average price target of $48.64.

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.