Charles Schwab Investment Management Inc. Acquires 100,445 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Charles Schwab Investment Management Inc. increased its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 649,919 shares of the company’s stock after buying an additional 100,445 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.09% of Advance Auto Parts worth $30,735,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Pzena Investment Management LLC grew its holdings in shares of 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 worth $113,409,000 after buying an additional 1,698,155 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Advance Auto Parts by 244.7% during the fourth 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 in the last quarter. Clearline Capital LP grew its holdings in shares of Advance Auto Parts by 9.8% during the third 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Advance Auto Parts during the third quarter worth about $14,684,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Advance Auto Parts by 2.4% during the fourth quarter. Principal Financial Group Inc. now owns 287,732 shares of the company’s stock worth $13,607,000 after buying an additional 6,867 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the company’s stock in a transaction that occurred on 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 acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Shane M. Okelly purchased 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $36.79 per share, with a total value of $55,185.00. Following the completion of the acquisition, the chief executive officer now owns 183,121 shares in the company, valued at $6,737,021.59. The trade was a 0.83 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.

Advance Auto Parts Stock Performance

AAP opened at $37.63 on Monday. Advance Auto Parts, Inc. has a 12-month low of $33.08 and a 12-month high of $88.56. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 1.98 and a beta of 1.27. The business has a 50 day moving average of $44.00 and a 200-day moving average of $42.15. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.66%. Advance Auto Parts’s payout ratio is currently -17.86%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BMO Capital Markets decreased their price objective on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Citigroup reduced 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. Wedbush reissued an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research report on Monday, March 3rd. Evercore ISI reduced their price target on Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Finally, Barclays reduced their price target on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and an average target price of $45.13.

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.