Advance Auto Parts, Inc. (NYSE:AAP) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in shares of Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 367.4% during the third quarter, HoldingsChannel reports. The firm owned 190,905 shares of the company’s stock after buying an additional 150,058 shares during the period. Victory Capital Management Inc.’s holdings in Advance Auto Parts were worth $29,846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kestra Advisory Services LLC lifted its stake in shares of Advance Auto Parts by 90.8% during the third quarter. Kestra Advisory Services LLC now owns 4,922 shares of the company’s stock worth $769,000 after purchasing an additional 2,343 shares in the last quarter. Horan Capital Advisors LLC. increased its position in shares of Advance Auto Parts by 2.7% during the third quarter. Horan Capital Advisors LLC. now owns 18,416 shares of the company’s stock worth $2,879,000 after acquiring an additional 476 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Advance Auto Parts during the third quarter worth about $8,439,000. Harbor Investment Advisory LLC increased its position in shares of Advance Auto Parts by 9.1% during the third quarter. Harbor Investment Advisory LLC now owns 944 shares of the company’s stock worth $148,000 after acquiring an additional 79 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Advance Auto Parts by 11.3% during the third quarter. Park Avenue Securities LLC now owns 2,150 shares of the company’s stock worth $336,000 after acquiring an additional 218 shares during the last quarter. Institutional investors and hedge funds own 96.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Royal Bank of Canada dropped their target price on Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 17th. Raymond James dropped their target price on Advance Auto Parts from $210.00 to $200.00 and set a “strong-buy” rating on the stock in a research report on Thursday, November 17th. Morgan Stanley dropped their target price on Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 17th. StockNews.com lowered Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st. Finally, Citigroup lowered Advance Auto Parts from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $216.00 to $161.00 in a research report on Thursday, November 17th. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $190.00.

Advance Auto Parts Stock Performance

Shares of NYSE AAP opened at $147.49 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.23 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $149.30 and a 200-day simple moving average of $169.57. The company has a market cap of $8.87 billion, a PE ratio of 18.96, a P/E/G ratio of 0.89 and a beta of 1.15. Advance Auto Parts, Inc. has a 12-month low of $138.52 and a 12-month high of $237.39.

Advance Auto Parts (NYSE:AAPGet Rating) last released its earnings results on Tuesday, November 15th. The company reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.48). The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.66 billion. Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%. On average, equities research analysts forecast that Advance Auto Parts, Inc. will post 12.59 EPS for the current year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were issued a $1.50 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $6.00 annualized dividend and a dividend yield of 4.07%. Advance Auto Parts’s dividend payout ratio is currently 77.12%.

About Advance Auto Parts

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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.

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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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