US Bancorp DE Boosts Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

US Bancorp DE grew its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 1,813.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,340 shares of the company’s stock after purchasing an additional 24,016 shares during the period. US Bancorp DE’s holdings in Advance Auto Parts were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in AAP. Pzena Investment Management LLC lifted its holdings in Advance Auto Parts by 140.3% in the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after acquiring an additional 1,698,155 shares during the last quarter. Royce & Associates LP lifted its holdings in Advance Auto Parts by 31.7% in the third 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. Allianz Asset Management GmbH lifted its holdings in Advance Auto Parts by 244.7% in the fourth quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company’s stock valued at $35,006,000 after acquiring an additional 525,504 shares during the last quarter. Clearline Capital LP lifted its holdings in Advance Auto Parts by 9.8% in the third quarter. Clearline Capital LP now owns 445,244 shares of the company’s stock valued at $17,360,000 after acquiring an additional 39,699 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Advance Auto Parts in the third quarter valued at approximately $14,684,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Advance Auto Parts Price Performance

AAP opened at $35.45 on Friday. The company has a 50-day moving average of $44.97 and a 200-day moving average of $42.82. The company has a market capitalization of $2.12 billion, a P/E ratio of 48.56, a PEG ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a 1-year low of $33.08 and a 1-year high of $88.56. 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 firm 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s dividend payout ratio is presently -17.86%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AAP shares. Royal Bank of Canada decreased their price objective 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. Wells Fargo & Company upped their price target on 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. Barclays decreased their price target on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. BMO Capital Markets decreased their price target on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Finally, Evercore ISI upped their price target on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. 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 stock. According to MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and an average target price of $46.69.

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.