Advance Auto Parts, Inc. (NYSE:AAP) Shares Bought by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC raised its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 72.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 159,050 shares of the company's stock after purchasing an additional 66,690 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.27% of Advance Auto Parts worth $6,201,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Clearline Capital LP boosted its position in Advance Auto Parts by 9.8% in the third quarter. Clearline Capital LP now owns 445,244 shares of the company's stock worth $17,360,000 after purchasing an additional 39,699 shares during the last quarter. FORA Capital LLC purchased a new position in Advance Auto Parts during the third quarter valued at $2,144,000. Blueshift Asset Management LLC boosted its holdings in Advance Auto Parts by 20.1% during the 3rd quarter. Blueshift Asset Management LLC now owns 7,094 shares of the company's stock valued at $277,000 after acquiring an additional 1,188 shares during the period. Goodman Financial Corp boosted its position in Advance Auto Parts by 34.0% during the third quarter. Goodman Financial Corp now owns 235,379 shares of the company's stock valued at $9,178,000 after purchasing an additional 59,676 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Advance Auto Parts by 564.6% during the third quarter. Quantbot Technologies LP now owns 23,887 shares of the company's stock worth $931,000 after purchasing an additional 20,293 shares during the period. 88.75% of the stock is currently owned by institutional investors.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the transaction, the executive vice president now owns 24,266 shares of the company's stock, valued at $1,069,159.96. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on AAP. Mizuho reaffirmed a "neutral" rating and set a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. Royal Bank of Canada cut their price target on shares of Advance Auto Parts from $52.00 to $46.00 and set a "sector perform" rating on the stock in a report on Monday, November 11th. Truist Financial lowered their price objective on Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating for the company in a research note on Friday, November 15th. Evercore ISI upped their price target on shares of Advance Auto Parts from $45.00 to $60.00 and gave the stock a "hold" rating in a research report on Wednesday, November 20th. Finally, Roth Capital raised shares of Advance Auto Parts to a "hold" rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $48.64.

Advance Auto Parts Trading Up 3.1 %

NYSE:AAP traded up $1.37 on Friday, hitting $44.98. 2,222,182 shares of the stock were exchanged, compared to its average volume of 2,079,651. The stock has a market cap of $2.69 billion, a PE ratio of 61.62 and a beta of 1.21. The stock has a fifty day moving average of $39.44 and a 200-day moving average of $51.18. 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 fifty-two week low of $35.59 and a fifty-two week high of $88.56.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its earnings results on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the business earned ($0.82) EPS. The business's revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts expect that Advance Auto Parts, Inc. will post -0.51 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. Advance Auto Parts's payout ratio is presently 136.99%.

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.