Gamco Investors INC. ET AL Acquires 47,575 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Gamco Investors INC. ET AL grew its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 413,425 shares of the company's stock after purchasing an additional 47,575 shares during the period. Gamco Investors INC. ET AL owned approximately 0.69% of Advance Auto Parts worth $19,551,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Keeley Teton Advisors LLC grew its position in Advance Auto Parts by 16.9% during the 4th quarter. Keeley Teton Advisors LLC now owns 16,446 shares of the company's stock worth $778,000 after acquiring an additional 2,375 shares during the last quarter. Gabelli Funds LLC increased its stake in shares of Advance Auto Parts by 33.7% in the fourth quarter. Gabelli Funds LLC now owns 22,600 shares of the company's stock valued at $1,069,000 after buying an additional 5,700 shares during the period. Mariner LLC bought a new position in Advance Auto Parts in the 4th quarter valued at approximately $263,000. Bragg Financial Advisors Inc grew its holdings in Advance Auto Parts by 121.9% during the 4th quarter. Bragg Financial Advisors Inc now owns 435,179 shares of the company's stock worth $20,580,000 after acquiring an additional 239,068 shares during the last quarter. Finally, Cooper Creek Partners Management LLC bought a new position in shares of Advance Auto Parts during the fourth quarter valued at $75,055,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $34.15 per share, with a total value of $499,956.00. Following the acquisition, the director now owns 34,070 shares in the company, valued at approximately $1,163,490.50. This represents a 75.35 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Shane M. Okelly purchased 1,500 shares of Advance Auto Parts stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the transaction, the chief executive officer now owns 183,121 shares of the company's stock, valued at $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 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. BMO Capital Markets lowered their target price on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating for the company in a research report on Thursday, February 27th. Barclays dropped their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 9th. Truist Financial lowered 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 research note on Thursday, February 27th. Wells Fargo & Company increased their price target on Advance Auto Parts from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Finally, Evercore ISI lowered their price objective on 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. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company. 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 Stock Performance

Shares of NYSE AAP traded up $0.91 during mid-day trading on Friday, reaching $31.79. 1,617,625 shares of the company's stock were exchanged, compared to its average volume of 2,220,703. The firm has a 50-day moving average price of $37.98 and a two-hundred day moving average price of $41.09. 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 firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 43.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $79.41.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.15%. Advance Auto Parts's dividend payout ratio (DPR) 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.