Mackenzie Financial Corp Purchases New Position in Advance Auto Parts, Inc. (NYSE:AAP)

Mackenzie Financial Corp bought a new position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,145 shares of the company's stock, valued at approximately $953,000.

Several other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of Advance Auto Parts by 57.2% during the fourth quarter. SG Americas Securities LLC now owns 8,603 shares of the company's stock worth $407,000 after purchasing an additional 3,130 shares during the period. Blue Trust Inc. increased its position in Advance Auto Parts by 75.9% in the 4th quarter. Blue Trust Inc. now owns 2,119 shares of the company's stock worth $100,000 after purchasing an additional 914 shares during the last quarter. KBC Group NV lifted its stake in Advance Auto Parts by 51.6% in the fourth quarter. KBC Group NV now owns 2,651 shares of the company's stock valued at $125,000 after acquiring an additional 902 shares during the last quarter. OLD National Bancorp IN bought a new stake in Advance Auto Parts in the fourth quarter worth approximately $312,000. Finally, Yousif Capital Management LLC increased its stake in shares of Advance Auto Parts by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company's stock worth $1,242,000 after purchasing an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company's stock.

Advance Auto Parts Stock Up 1.2%

AAP traded up $0.61 during trading on Thursday, reaching $52.29. 2,018,586 shares of the stock were exchanged, compared to its average volume of 2,463,170. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock's 50 day moving average price is $36.80 and its two-hundred day moving average price is $41.04. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $67.03. The stock has a market cap of $3.13 billion, a P/E ratio of 71.63, a price-to-earnings-growth ratio of 1.98 and a beta of 0.93.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.81) by $0.59. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The company had revenue of $2.58 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same period in the prior year, the firm earned $0.67 EPS. Advance Auto Parts's quarterly revenue was down 24.2% compared to the same quarter last year. Equities analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, July 11th. Advance Auto Parts's dividend payout ratio is -17.04%.

Insider Buying and Selling

In related news, CEO Shane M. Okelly bought 1,500 shares of Advance Auto Parts stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $36.79 per share, with a total value of $55,185.00. Following the acquisition, the chief executive officer now owns 183,121 shares in the company, valued at $6,737,021.59. This trade represents a 0.83% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.35% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AAP shares. Bank of America upped their price objective on shares of Advance Auto Parts from $33.00 to $39.00 and gave the stock an "underperform" rating in a report on Friday, May 23rd. UBS Group reissued a "neutral" rating and issued a $50.00 price objective (up from $36.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Redburn Atlantic raised Advance Auto Parts from a "sell" rating to a "neutral" rating and upped their target price for the stock from $28.00 to $45.00 in a research report on Tuesday. Wedbush restated an "outperform" rating and set a $55.00 price target on shares of Advance Auto Parts in a report on Monday, March 3rd. Finally, Cowen reaffirmed a "hold" rating on shares of Advance Auto Parts in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, twenty have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts presently has an average rating of "Hold" and a consensus target price of $46.01.

About Advance Auto Parts

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.