Capital World Investors Sells 249,991 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Capital World Investors decreased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 11.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,944,740 shares of the company’s stock after selling 249,991 shares during the quarter. Capital World Investors’ holdings in Advance Auto Parts were worth $91,967,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AAP. Virtu Financial LLC bought a new position in Advance Auto Parts in the third quarter worth about $1,117,000. Versant Capital Management Inc lifted 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 valued at $26,000 after purchasing an additional 365 shares during the period. GAMMA Investing LLC boosted its position in shares of Advance Auto Parts by 198.3% during the fourth 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 in the last quarter. First Hawaiian Bank raised its holdings in Advance Auto Parts by 14.4% in the fourth quarter. First Hawaiian Bank now owns 19,692 shares of the company’s stock worth $931,000 after purchasing an additional 2,474 shares in the last quarter. Finally, Moody National Bank Trust Division purchased a new position in Advance Auto Parts during the fourth quarter valued at $1,196,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Insider Buying and Selling

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the acquisition, the chief executive officer now owns 183,121 shares in the company, valued at $6,737,021.59. This represents a 0.83 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of Advance Auto Parts stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $34.15 per share, with a total value of $499,956.00. Following the completion of the acquisition, the director now owns 34,070 shares of the company’s stock, valued at $1,163,490.50. The trade was a 75.35 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. BMO Capital Markets lowered their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. Citigroup cut 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. Truist Financial dropped 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. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research report on Monday, March 3rd. Finally, Wells Fargo & Company raised their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.13.

Advance Auto Parts Trading Up 2.6 %

Shares of AAP stock opened at $32.70 on Tuesday. 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 12-month low of $28.89 and a 12-month high of $79.41. The stock has a market capitalization of $1.96 billion, a P/E ratio of 44.80, a P/E/G ratio of 1.98 and a beta of 1.07. The firm’s 50 day moving average is $37.38 and its 200 day moving average is $41.05.

Advance Auto Parts Announces Dividend

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 paid a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.06%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -17.86%.

Advance Auto Parts Company 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.