Covestor Ltd Grows Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Covestor Ltd boosted its position in Advance Auto Parts, Inc. (NYSE:AAP) by 36.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,763 shares of the company’s stock after buying an additional 1,007 shares during the period. Covestor Ltd’s holdings in Advance Auto Parts were worth $178,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its stake in shares of Advance Auto Parts by 2,662.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company’s stock worth $61,156,000 after acquiring an additional 1,246,384 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Advance Auto Parts during the 4th quarter worth approximately $34,586,000. Allianz Asset Management GmbH raised its stake in shares of Advance Auto Parts by 244.7% during the 4th quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company’s stock worth $35,006,000 after buying an additional 525,504 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Advance Auto Parts by 12.5% in the 4th quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company’s stock valued at $154,681,000 after buying an additional 362,239 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Advance Auto Parts by 30.4% in the fourth quarter. Royce & Associates LP now owns 1,403,004 shares of the company’s stock valued at $66,348,000 after buying an additional 327,417 shares in the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Stock Performance

NYSE:AAP opened at $32.21 on Friday. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $79.41. The firm’s 50 day moving average is $39.54 and its two-hundred day moving average is $41.38. The company has a market cap of $1.93 billion, a P/E ratio of 44.13, a P/E/G ratio of 1.98 and a beta of 1.07. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. acquired 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, for a total transaction of $499,956.00. Following the completion of the purchase, the director now directly owns 34,070 shares in the company, valued at $1,163,490.50. This represents a 75.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Shane M. Okelly bought 1,500 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the purchase, the chief executive officer now owns 183,121 shares in the company, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on AAP shares. Evercore ISI cut their price objective on Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Royal Bank of Canada cut their price target on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company boosted their price objective on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Truist Financial lowered 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. Finally, Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $45.13.

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.