Advance Auto Parts, Inc. (NYSE:AAP) Stock Position Increased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 97.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 305,622 shares of the company’s stock after buying an additional 150,604 shares during the quarter. Commonwealth Equity Services LLC owned 0.51% of Advance Auto Parts worth $14,453,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in Advance Auto Parts by 3.9% in the 4th quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock valued at $277,000 after acquiring an additional 221 shares during the last quarter. Yousif Capital Management LLC lifted its stake in Advance Auto Parts by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock valued at $1,242,000 after purchasing an additional 281 shares during the last quarter. Ingalls & Snyder LLC boosted its holdings in Advance Auto Parts by 5.0% during the fourth quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company’s stock worth $316,000 after buying an additional 317 shares in the last quarter. Versant Capital Management Inc grew its position in Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after buying an additional 365 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Advance Auto Parts by 29.1% in the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after buying an additional 394 shares in the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAP has been the topic of a number of recent research reports. Truist Financial decreased their target price on Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Citigroup dropped their price target on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Barclays reduced their price objective on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Evercore ISI dropped their target price on shares of Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Finally, Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.13.

Advance Auto Parts Price Performance

AAP opened at $37.82 on Tuesday. The stock has a fifty day moving average price of $43.80 and a 200 day moving average price of $42.09. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 1 year low of $33.08 and a 1 year high of $88.56. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 51.80, a PEG ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. Advance Auto Parts’s dividend payout ratio is -17.86%.

Insider Buying and Selling

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. bought 14,640 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $1,163,490.50. The trade was a 75.35 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shane M. Okelly acquired 1,500 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, with a total value of $55,185.00. Following the purchase, the chief executive officer now owns 183,121 shares in the company, valued at $6,737,021.59. The trade was a 0.83 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate insiders.

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.