Price T Rowe Associates Inc. MD Acquires 1,706,328 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Price T Rowe Associates Inc. MD raised its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 34.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,685,541 shares of the company's stock after buying an additional 1,706,328 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 11.19% of Advance Auto Parts worth $316,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Cooper Creek Partners Management LLC purchased a new position in shares of Advance Auto Parts during the 4th quarter valued at $75,055,000. Marshall Wace LLP increased its position in Advance Auto Parts by 2,585.1% in the 4th quarter. Marshall Wace LLP now owns 1,353,912 shares of the company's stock worth $64,026,000 after purchasing an additional 1,303,488 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Advance Auto Parts by 2,662.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock valued at $61,156,000 after buying an additional 1,246,384 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Advance Auto Parts in the 4th quarter valued at approximately $34,586,000. Finally, Allianz Asset Management GmbH raised its position in Advance Auto Parts by 244.7% during 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 in the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Trading Up 0.1 %

AAP traded up $0.05 during midday trading on Thursday, reaching $32.77. 455,032 shares of the company were exchanged, compared to its average volume of 2,220,800. The stock has a market capitalization of $1.96 billion, a P/E ratio of 44.82, a PEG ratio of 1.98 and a beta of 1.07. Advance Auto Parts, Inc. has a one year low of $28.89 and a one year high of $77.49. The stock's 50-day simple moving average is $35.55 and its 200 day simple moving average is $40.75. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 3.05%. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.86%.

Analyst Upgrades and Downgrades

AAP has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Wedbush reiterated an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. Evercore ISI dropped their price objective on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Citigroup reduced their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Wells Fargo & Company boosted their price target on Advance Auto Parts from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $45.13.

Insiders Place Their Bets

In other news, CEO Shane M. Okelly acquired 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, for a total transaction 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. This represents a 0.83 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the business's stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. This represents a 75.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.35% of the company's stock.

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.