Advance Auto Parts, Inc. (NYSE:AAP) Shares Bought by Royce & Associates LP

Royce & Associates LP lifted its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 30.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,403,004 shares of the company's stock after purchasing an additional 327,417 shares during the quarter. Advance Auto Parts comprises approximately 0.6% of Royce & Associates LP's investment portfolio, making the stock its 24th biggest position. Royce & Associates LP owned 2.35% of Advance Auto Parts worth $66,348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc raised its position in Advance Auto Parts by 3.9% in the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company's stock valued at $277,000 after purchasing an additional 221 shares during the period. Yousif Capital Management LLC raised its holdings in shares of Advance Auto Parts by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company's stock valued at $1,242,000 after buying an additional 281 shares during the period. Ingalls & Snyder LLC raised its holdings in shares of Advance Auto Parts by 5.0% in the 4th quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company's stock valued at $316,000 after buying an additional 317 shares during the period. Versant Capital Management Inc lifted its stake in Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company's stock worth $26,000 after acquiring an additional 365 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Advance Auto Parts by 29.1% during the 3rd quarter. KBC Group NV now owns 1,749 shares of the company's stock valued at $68,000 after acquiring an additional 394 shares during the period. 88.75% of the stock is owned by institutional investors and hedge funds.

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Advance Auto Parts Stock Up 1.8 %

Advance Auto Parts stock traded up $0.66 during mid-day trading on Thursday, hitting $37.58. The company had a trading volume of 1,688,742 shares, compared to its average volume of 2,109,789. 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, Inc. has a 1 year low of $33.08 and a 1 year high of $88.56. The business has a fifty day moving average of $43.46 and a 200 day moving average of $42.00. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 51.47, a PEG ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts's dividend payout ratio (DPR) is -17.86%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. BMO Capital Markets cut their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company upped their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Evercore ISI decreased their price target on shares of 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. Truist Financial cut their price objective on 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, Citigroup decreased their target price on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $45.13.

Insider Buying and Selling

In other news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the company's stock in a transaction on Thursday, March 6th. The shares were bought at an average price 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 in the company, valued at $1,163,490.50. This trade represents a 75.35 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shane M. Okelly bought 1,500 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the transaction, the chief executive officer now directly owns 183,121 shares of the company's stock, valued at approximately $6,737,021.59. This 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.

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.