Amundi Grows Stock Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Amundi raised its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 184.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,900 shares of the company's stock after acquiring an additional 19,404 shares during the period. Amundi owned approximately 0.05% of Advance Auto Parts worth $1,361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AAP. Pzena Investment Management LLC lifted its stake in shares of Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company's stock valued at $113,409,000 after purchasing an additional 1,698,155 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Advance Auto Parts by 244.7% in the 4th quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company's stock valued at $35,006,000 after purchasing an additional 525,504 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Advance Auto Parts in the 3rd quarter valued at $14,684,000. Maple Rock Capital Partners Inc. acquired a new position in shares of Advance Auto Parts in the 3rd quarter valued at $9,046,000. Finally, Empowered Funds LLC acquired a new position in shares of Advance Auto Parts in the 4th quarter valued at $8,947,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Advance Auto Parts

In related news, CEO Shane M. Okelly bought 1,500 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the acquisition, the chief executive officer now owns 183,121 shares of the company's stock, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price of $34.15 per share, with a total value of $499,956.00. Following the acquisition, the director now directly owns 34,070 shares in the company, 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 owned by insiders.

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Advance Auto Parts Trading Down 0.6 %

AAP traded down $0.22 during trading hours on Friday, reaching $37.43. The company's stock had a trading volume of 1,934,360 shares, compared to its average volume of 2,108,660. The stock has a market cap of $2.24 billion, a PE ratio of 51.27, a P/E/G ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a fifty-two week low of $33.08 and a fifty-two week high of $87.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The business's 50-day moving average is $43.12 and its 200-day moving average is $41.92.

Advance Auto Parts Announces Dividend

The firm 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's dividend payout ratio is presently -17.86%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays cut their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, January 9th. Wedbush reissued an "outperform" rating and issued a $55.00 price target on shares of Advance Auto Parts in a report on Monday, March 3rd. 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. Truist Financial cut their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Finally, 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 for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $45.13.

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.