Pzena Investment Management LLC Acquires 362,239 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Pzena Investment Management LLC grew its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 12.5% during the 4th quarter, Holdings Channel reports. The firm owned 3,270,897 shares of the company’s stock after purchasing an additional 362,239 shares during the period. Pzena Investment Management LLC owned approximately 0.05% of Advance Auto Parts worth $154,681,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Johnson Investment Counsel Inc. acquired a new stake in shares of Advance Auto Parts in the 4th quarter valued at approximately $484,000. Amundi raised its position in shares of Advance Auto Parts by 184.9% in the 4th quarter. Amundi now owns 29,900 shares of the company’s stock valued at $1,361,000 after acquiring an additional 19,404 shares during the period. AMG National Trust Bank raised its position in shares of Advance Auto Parts by 3.4% in the 4th quarter. AMG National Trust Bank now owns 31,575 shares of the company’s stock valued at $1,454,000 after acquiring an additional 1,049 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Advance Auto Parts in the 4th quarter valued at approximately $5,116,000. Finally, Inceptionr LLC acquired a new stake in shares of Advance Auto Parts in the 4th quarter valued at approximately $309,000. Institutional investors own 88.75% of the company’s stock.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $34.15 per share, with a total value of $499,956.00. Following the purchase, the director now directly owns 34,070 shares of the company’s stock, valued at $1,163,490.50. The trade was a 75.35 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.35% of the company’s stock.

Advance Auto Parts Price Performance

Shares of AAP opened at $36.67 on Tuesday. The stock has a market capitalization of $2.19 billion, a P/E ratio of 50.24, a P/E/G ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a twelve month low of $33.08 and a twelve month high of $88.56. The company has a 50 day moving average of $44.97 and a 200-day moving average of $42.56. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.73%. Advance Auto Parts’s dividend payout ratio is currently -17.86%.

Analysts Set New Price Targets

AAP has been the topic of a number of analyst reports. DA Davidson reiterated a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a research report on Friday, November 15th. UBS Group increased their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. The Goldman Sachs Group cut their price target on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada dropped their target price on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Finally, Barclays dropped their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.