Allianz Asset Management GmbH Buys 525,504 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Allianz Asset Management GmbH increased its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 244.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 740,234 shares of the company’s stock after buying an additional 525,504 shares during the period. Allianz Asset Management GmbH owned 1.24% of Advance Auto Parts worth $35,006,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pzena Investment Management LLC boosted its holdings in shares of Advance Auto Parts by 140.3% during the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after acquiring an additional 1,698,155 shares during the period. International Assets Investment Management LLC bought a new stake in Advance Auto Parts in the 3rd quarter valued at $17,477,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Advance Auto Parts in the 3rd quarter valued at $14,684,000. Royce & Associates LP increased its position in Advance Auto Parts by 31.7% during the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock worth $41,937,000 after buying an additional 258,656 shares during the period. Finally, Maple Rock Capital Partners Inc. bought a new position in Advance Auto Parts during the 3rd quarter worth $9,046,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Stock Down 2.0 %

AAP stock opened at $43.46 on Monday. The firm has a 50-day moving average price of $46.21 and a 200-day moving average price of $44.20. The stock has a market capitalization of $2.60 billion, a P/E ratio of 59.53, a price-to-earnings-growth ratio of 2.02 and a beta of 1.15. Advance Auto Parts, Inc. has a 12 month low of $35.59 and a 12 month high of $88.56. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

Insider Activity

In related news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the sale, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAP has been the topic of several research reports. Barclays decreased their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Citigroup increased their target price on shares of Advance Auto Parts from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday. Evercore ISI lifted their price target on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. UBS Group boosted their price target on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets initiated coverage on Advance Auto Parts in a research note on Friday, December 13th. They set a “market perform” rating and a $45.00 price objective on the stock. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $47.88.

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.