Edgestream Partners L.P. Acquires New Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Edgestream Partners L.P. purchased a new position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 108,187 shares of the company's stock, valued at approximately $5,116,000. Edgestream Partners L.P. owned about 0.18% of Advance Auto Parts at the end of the most recent quarter.

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

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Advance Auto Parts Price Performance

Advance Auto Parts stock traded up $0.14 during trading on Tuesday, reaching $36.72. The company had a trading volume of 557,968 shares, compared to its average volume of 2,279,073. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The firm has a market capitalization of $2.20 billion, a PE ratio of 50.44, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a 1-year low of $33.08 and a 1-year high of $88.56. The firm's 50-day simple moving average is $44.78 and its 200 day simple moving average is $42.45.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts's payout ratio is -17.86%.

Analyst Upgrades and Downgrades

AAP has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Evercore ISI raised 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. BMO Capital Markets dropped their price objective on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. Truist Financial reduced their target price 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, DA Davidson reaffirmed a "neutral" rating and issued a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Advance Auto Parts currently has an average rating of "Hold" and a consensus target price of $46.69.

Insider Transactions at Advance Auto Parts

In related news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the 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 purchase, the director now owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This represents a 75.35 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company's stock.

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.