6,539 Shares in Advance Auto Parts, Inc. (NYSE:AAP) Acquired by Inceptionr LLC

Inceptionr LLC purchased a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,539 shares of the company’s stock, valued at approximately $309,000.

A number of other hedge funds also recently made changes to their positions in the stock. Pzena Investment Management LLC raised its position in shares of Advance Auto Parts by 140.3% in the 3rd 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 during the period. Allianz Asset Management GmbH increased its stake 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 worth $35,006,000 after acquiring an additional 525,504 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Advance Auto Parts during the third quarter worth about $14,684,000. Royce & Associates LP raised its holdings in shares of Advance Auto Parts by 31.7% in the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock worth $41,937,000 after purchasing an additional 258,656 shares during the period. Finally, Maple Rock Capital Partners Inc. acquired a new position in shares of Advance Auto Parts in the 3rd quarter valued at about $9,046,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Stock Up 5.4 %

Shares of NYSE:AAP opened at $35.45 on Monday. The firm has a market cap of $2.12 billion, a PE ratio of 48.56, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. The company has a fifty day simple moving average of $44.97 and a 200 day simple moving average of $42.56. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 12-month low of $33.08 and a 12-month high of $88.56.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s payout ratio is currently -17.86%.

Analysts Set New Price Targets

A number of research firms recently issued reports on AAP. UBS Group increased their target price on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. BMO Capital Markets cut their target price on shares of 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. The Goldman Sachs Group decreased their price target on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Evercore ISI increased their price target on Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company boosted their price objective 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. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and an average target price of $46.69.

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.