FIL Ltd Sells 23,547 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

FIL Ltd lessened its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 335,078 shares of the company's stock after selling 23,547 shares during the quarter. FIL Ltd owned approximately 0.56% of Advance Auto Parts worth $15,846,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company's stock valued at $26,000 after purchasing an additional 365 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company's stock worth $40,000 after acquiring an additional 818 shares during the period. Vision Financial Markets LLC acquired a new position in shares of Advance Auto Parts during the fourth quarter valued at approximately $42,000. GAMMA Investing LLC lifted its position in Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company's stock worth $74,000 after purchasing an additional 1,047 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Advance Auto Parts by 38.9% during the 4th quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock valued at $79,000 after purchasing an additional 469 shares during the period. 88.75% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Shane M. Okelly acquired 1,500 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the purchase, the chief executive officer now owns 183,121 shares in the company, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now directly 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 disclosure for this purchase can be found here. 0.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank of Canada cut their target price on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Barclays dropped their price target on Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 9th. Citigroup dropped their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Truist Financial lowered their price objective on shares of 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, BMO Capital Markets lowered their target price on 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. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Advance Auto Parts currently has an average rating of "Hold" and an average price target of $45.13.

Advance Auto Parts Stock Performance

Advance Auto Parts stock traded up $1.10 during mid-day trading on Thursday, reaching $31.98. The company had a trading volume of 510,577 shares, compared to its average volume of 2,214,452. The company has a 50 day moving average of $38.25 and a 200-day moving average of $41.14. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 43.66, a PEG ratio of 1.98 and a beta of 1.07. 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 52 week low of $28.89 and a 52 week high of $79.41.

Advance Auto Parts Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts's payout ratio is presently -17.86%.

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.