Corient Private Wealth LLC Purchases New Shares in Advance Auto Parts, Inc. (NYSE:AAP)

Corient Private Wealth LLC acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,343 shares of the company's stock, valued at approximately $347,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allianz Asset Management GmbH grew its position in Advance Auto Parts by 244.7% during the fourth 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 grew its holdings in shares of Advance Auto Parts by 12.5% during the 4th quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock worth $154,681,000 after purchasing an additional 362,239 shares in the last quarter. Royce & Associates LP increased its position 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 worth $66,348,000 after purchasing an additional 327,417 shares during the period. Maple Rock Capital Partners Inc. acquired a new position in Advance Auto Parts in the third quarter valued at about $9,046,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Advance Auto Parts by 58.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,058 shares of the company's stock valued at $28,282,000 after purchasing an additional 221,445 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company's stock.

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Insider Activity

In related news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the business's stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the purchase, the director now owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Shane M. Okelly acquired 1,500 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $36.79 per share, with a total value of $55,185.00. Following the completion of the acquisition, the chief executive officer now directly owns 183,121 shares in the company, 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. Company insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup dropped their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research 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 company an "equal weight" rating in a research report on Monday, January 6th. Wedbush reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a report on Monday, March 3rd. Barclays lowered their price target on 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. Finally, Truist Financial reduced their price objective on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $45.13.

Advance Auto Parts Trading Down 6.9 %

Shares of AAP stock traded down $2.73 during trading hours on Thursday, hitting $36.59. 3,570,878 shares of the company were exchanged, compared to its average volume of 2,172,410. The company has a 50 day simple moving average of $41.84 and a two-hundred day simple moving average of $41.81. The firm has a market cap of $2.19 billion, a P/E ratio of 50.12, a P/E/G ratio of 1.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts, Inc. has a fifty-two week low of $33.08 and a fifty-two week high of $85.30.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts's dividend payout ratio (DPR) is currently -17.86%.

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.