Investors Research Corp Decreases Position in Advance Auto Parts, Inc. (NYSE:AAP)

Investors Research Corp lowered its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,250 shares of the company’s stock after selling 925 shares during the period. Investors Research Corp’s holdings in Advance Auto Parts were worth $248,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Pzena Investment Management LLC increased its stake in shares of Advance Auto Parts by 140.3% during the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after purchasing an additional 1,698,155 shares during the last quarter. Royce & Associates LP increased its stake in shares of Advance Auto Parts by 31.7% during the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock worth $41,937,000 after purchasing an additional 258,656 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Advance Auto Parts by 244.7% during the 4th quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company’s stock worth $35,006,000 after purchasing an additional 525,504 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Advance Auto Parts by 18.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,919 shares of the company’s stock worth $30,735,000 after buying an additional 100,445 shares during the period. Finally, Clearline Capital LP boosted its holdings in Advance Auto Parts by 9.8% in the 3rd quarter. Clearline Capital LP now owns 445,244 shares of the company’s stock worth $17,360,000 after buying an additional 39,699 shares during the period. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Trading Up 3.7 %

NYSE:AAP opened at $36.67 on Tuesday. The company’s 50 day moving average price is $44.97 and its 200-day moving average price is $42.56. Advance Auto Parts, Inc. has a 52 week low of $33.08 and a 52 week high of $88.56. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 50.24, a PEG ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s payout ratio is -17.86%.

Insider Buying and Selling

In related news, Director Eugene I. Lee, Jr. bought 14,640 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, with a total value of $499,956.00. Following the transaction, the director now owns 34,070 shares in the company, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AAP. Evercore ISI raised their price objective on shares of Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a report on Monday, March 3rd. Royal Bank of Canada cut their price target 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. Citigroup cut their price target 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. Finally, DA Davidson reissued a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. One 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’s stock. According to MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and a consensus price target of $46.69.

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.