Fmr LLC Decreases Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Fmr LLC lowered its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 41.6% in the fourth quarter, Holdings Channel reports. The firm owned 2,438,545 shares of the company’s stock after selling 1,737,689 shares during the period. Fmr LLC’s holdings in Advance Auto Parts were worth $115,319,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Pzena Investment Management LLC increased its stake 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 worth $154,681,000 after buying an additional 362,239 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Advance Auto Parts by 30.4% in the fourth 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 last quarter. Thrivent Financial for Lutherans increased its position in shares of Advance Auto Parts by 2,662.0% during the fourth 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. Geode Capital Management LLC raised its stake in Advance Auto Parts by 13.0% in the 4th quarter. Geode Capital Management LLC now owns 938,231 shares of the company’s stock valued at $44,384,000 after purchasing an additional 108,226 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Advance Auto Parts by 244.7% in the 4th quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company’s stock valued at $35,006,000 after purchasing an additional 525,504 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AAP shares. Barclays dropped their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. Royal Bank of Canada cut their price objective 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. Wells Fargo & Company raised their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Citigroup dropped their price target on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, BMO Capital Markets reduced their price objective on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.13.

Advance Auto Parts Trading Up 1.9 %

Shares of AAP stock opened at $32.86 on Tuesday. The company has a 50-day moving average of $38.88 and a two-hundred day moving average of $41.27. The firm has a market cap of $1.96 billion, a PE ratio of 45.01, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $79.41. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts Announces Dividend

The business also recently announced 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 yield of 3.04%. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Insiders Place Their Bets

In other Advance Auto Parts news, CEO Shane M. Okelly purchased 1,500 shares of the business’s stock in a transaction 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 completion of the purchase, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the 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 purchase, 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 owned by insiders.

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.