Charles Schwab Investment Management Inc. Acquires 46,226 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Charles Schwab Investment Management Inc. increased its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,577,372 shares of the company's stock after purchasing an additional 46,226 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.65% of Advance Auto Parts worth $96,267,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AAP. Raymond James & Associates grew its holdings in shares of Advance Auto Parts by 31.2% in the third quarter. Raymond James & Associates now owns 127,158 shares of the company's stock worth $7,112,000 after acquiring an additional 30,243 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Advance Auto Parts by 11.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 33,324 shares of the company's stock valued at $1,864,000 after purchasing an additional 3,553 shares during the period. Bank of New York Mellon Corp increased its position in shares of Advance Auto Parts by 6.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 677,131 shares of the company's stock valued at $37,872,000 after purchasing an additional 39,219 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of Advance Auto Parts by 22.1% in the 3rd quarter. New York State Teachers Retirement System now owns 69,721 shares of the company's stock worth $3,899,000 after purchasing an additional 12,641 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Advance Auto Parts by 285.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 17,700 shares of the company's stock worth $990,000 after buying an additional 13,103 shares during the last quarter. Institutional investors own 88.75% of the company's stock.

Advance Auto Parts Stock Up 0.4 %

NYSE:AAP traded up $0.28 during midday trading on Monday, reaching $75.31. 1,400,219 shares of the stock traded hands, compared to its average volume of 1,717,663. The stock has a market capitalization of $4.49 billion, a PE ratio of 101.77, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20. Advance Auto Parts, Inc. has a 12-month low of $47.73 and a 12-month high of $122.73. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20. The business has a 50-day moving average of $78.01 and a two-hundred day moving average of $66.40.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the company posted $2.88 earnings per share. The business's revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts forecast that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. Advance Auto Parts's dividend payout ratio (DPR) is currently 135.14%.

Insider Activity at Advance Auto Parts

In related news, Director Carla Jean Bailo bought 310 shares of the company's stock in a transaction on Monday, March 18th. The shares were bought at an average price of $81.19 per share, with a total value of $25,168.90. Following the transaction, the director now owns 5,789 shares in the company, valued at $470,008.91. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Carla Jean Bailo acquired 310 shares of the company's stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $81.19 per share, with a total value of $25,168.90. Following the completion of the acquisition, the director now directly owns 5,789 shares of the company's stock, valued at $470,008.91. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Herman L. Word, Jr. sold 1,858 shares of Advance Auto Parts stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total value of $159,936.64. Following the sale, the executive vice president now directly owns 10,448 shares of the company's stock, valued at approximately $899,363.84. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAP. Truist Financial increased their price target on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, April 2nd. Mizuho began coverage on Advance Auto Parts in a research report on Tuesday, March 19th. They set a "neutral" rating and a $78.00 target price on the stock. TheStreet raised Advance Auto Parts from a "d+" rating to a "c-" rating in a report on Monday, January 22nd. Royal Bank of Canada lifted their price objective on Advance Auto Parts from $47.00 to $68.00 and gave the company a "sector perform" rating in a research report on Thursday, February 29th. Finally, Barclays increased their target price on shares of Advance Auto Parts from $56.00 to $66.00 and gave the stock an "equal weight" rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $64.56.

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.