Edgestream Partners L.P. Takes Position in Advance Auto Parts, Inc. (NYSE:AAP)

Edgestream Partners L.P. bought a new position in Advance Auto Parts, Inc. (NYSE:AAP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 108,187 shares of the company’s stock, valued at approximately $5,116,000. Edgestream Partners L.P. owned about 0.18% of Advance Auto Parts at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Advance Auto Parts in the third quarter worth about $14,684,000. Wolverine Asset Management LLC raised its position in Advance Auto Parts by 212.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock worth $1,223,000 after buying an additional 21,320 shares during the last quarter. Blue Trust Inc. lifted its stake in Advance Auto Parts by 75.9% during the 4th quarter. Blue Trust Inc. now owns 2,119 shares of the company’s stock valued at $100,000 after acquiring an additional 914 shares during the period. Quest Partners LLC purchased a new stake in shares of Advance Auto Parts in the 3rd quarter valued at $579,000. Finally, Moody National Bank Trust Division acquired a new stake in shares of Advance Auto Parts in the fourth quarter worth $1,196,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AAP shares. Truist Financial lowered their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. DA Davidson restated a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. Citigroup reduced their price target on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada lowered their price objective on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, 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 for the company in a report on Thursday, February 27th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.69.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock opened at $35.45 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The business has a 50 day simple moving average of $45.14 and a two-hundred day simple moving average of $42.99. The stock has a market capitalization of $2.12 billion, a P/E ratio of 48.56, a PEG ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a 12 month low of $33.08 and a 12 month high of $88.56.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.82%. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

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.