Edgestream Partners L.P. Takes $5.12 Million Position in Advance Auto Parts, Inc. (NYSE:AAP)

Edgestream Partners L.P. acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 108,187 shares of the company’s stock, valued at approximately $5,116,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its stake in shares of Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after acquiring an additional 365 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Advance Auto Parts by 1,543.4% in the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after purchasing an additional 818 shares during the period. Vision Financial Markets LLC acquired a new stake in Advance Auto Parts during the fourth quarter worth about $42,000. KBC Group NV raised its stake in Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after purchasing an additional 394 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Advance Auto Parts by 198.3% in the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock valued at $74,000 after purchasing an additional 1,047 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Performance

NYSE:AAP opened at $35.45 on Friday. Advance Auto Parts, Inc. has a 52 week low of $33.08 and a 52 week high of $88.56. The company has a fifty day simple moving average of $45.14 and a two-hundred day simple moving average of $42.99. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 48.56, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued 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 -17.86%.

Analysts Set New Price Targets

AAP has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. DA Davidson restated a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a report on Monday, March 3rd. Royal Bank of Canada cut their price objective 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. Finally, Evercore ISI upped their target price 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. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.69.

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.