Eugene I. Lee, Jr. Acquires 14,640 Shares of Advance Auto Parts, Inc. (NYSE:AAP) Stock

Advance Auto Parts, Inc. (NYSE:AAP) Director Eugene I. Lee, Jr. bought 14,640 shares of the stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $34.15 per share, with a total value of $499,956.00. Following the completion of the transaction, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. The trade was a 75.35 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Advance Auto Parts Trading Down 0.1 %

AAP stock opened at $36.53 on Wednesday. Advance Auto Parts, Inc. has a 12 month low of $33.08 and a 12 month high of $88.56. The firm’s 50-day moving average is $44.78 and its 200 day moving average is $42.45. The company has a market capitalization of $2.18 billion, a PE ratio of 50.04, a P/E/G ratio of 1.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.74%. Advance Auto Parts’s payout ratio is -17.86%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AAP shares. Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research note on Monday, March 3rd. Truist Financial decreased their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. UBS Group lifted their price target on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Wells Fargo & Company raised their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Barclays dropped their target price on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company 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 MarketBeat, Advance Auto Parts has a consensus rating of “Hold” and a consensus price target of $45.13.

Institutional Trading of Advance Auto Parts

A number of large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Advance Auto Parts by 34.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company’s stock valued at $316,160,000 after purchasing an additional 1,706,328 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Advance Auto Parts by 11.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,449,554 shares of the company’s stock valued at $163,129,000 after acquiring an additional 347,587 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Advance Auto Parts by 12.5% in the fourth quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company’s stock worth $154,681,000 after acquiring an additional 362,239 shares during the period. Dimensional Fund Advisors LP grew its holdings in Advance Auto Parts by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company’s stock worth $129,016,000 after acquiring an additional 297,741 shares in the last quarter. Finally, Eminence Capital LP bought a new position in Advance Auto Parts during the 4th quarter worth about $87,214,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

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.