Illinois Municipal Retirement Fund reduced its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 20.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 28,816 shares of the company's stock after selling 7,292 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Advance Auto Parts were worth $1,363,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of AAP. Pzena Investment Management LLC raised its stake in Advance Auto Parts by 140.3% during the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company's stock valued at $113,409,000 after purchasing an additional 1,698,155 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Advance Auto Parts by 244.7% in the 4th quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company's stock worth $35,006,000 after buying an additional 525,504 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Advance Auto Parts during the 3rd quarter valued at about $14,684,000. Royce & Associates LP lifted its holdings in shares of Advance Auto Parts by 31.7% in the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company's stock valued at $41,937,000 after acquiring an additional 258,656 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. purchased a new position in Advance Auto Parts in the third quarter worth about $9,046,000. 88.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AAP has been the topic of a number of recent research reports. DA Davidson restated a "neutral" rating and set a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Royal Bank of Canada decreased their price target on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. UBS Group lifted their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. 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 research report on Thursday, January 9th. Finally, Citigroup lowered their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $46.69.
View Our Latest Report on Advance Auto Parts
Advance Auto Parts Stock Up 0.1 %
NYSE AAP traded up $0.02 on Wednesday, reaching $34.60. 3,876,393 shares of the stock traded hands, compared to its average volume of 2,222,569. Advance Auto Parts, Inc. has a 12 month low of $33.94 and a 12 month high of $88.56. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 47.40, a PEG ratio of 1.98 and a beta of 1.15. The company has a fifty day moving average price of $45.53 and a 200-day moving average price of $43.12. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.
Advance Auto Parts Dividend Announcement
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 issued a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.89%. Advance Auto Parts's payout ratio is currently -17.86%.
Insider Buying and Selling
In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares in the company, valued at $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by insiders.
Advance Auto Parts Profile
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Free Report)
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.
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