Advance Auto Parts, Inc. (NYSE:AAP) Holdings Increased by Invesco Ltd.

Invesco Ltd. raised its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 517,818 shares of the company's stock after acquiring an additional 26,419 shares during the period. Invesco Ltd. owned approximately 0.87% of Advance Auto Parts worth $24,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AAP. Versant Capital Management Inc lifted its stake in Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company's stock worth $26,000 after purchasing an additional 365 shares in the last quarter. Allworth Financial LP boosted its holdings in Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company's stock valued at $40,000 after acquiring an additional 818 shares during the period. Vision Financial Markets LLC purchased a new stake in Advance Auto Parts during the fourth quarter worth about $42,000. GAMMA Investing LLC lifted its position in shares of Advance Auto Parts by 198.3% during 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 in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Advance Auto Parts by 38.9% in the fourth 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 owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired 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 directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $34.15 per share, with a total value of $499,956.00. Following the completion of the transaction, the director now owns 34,070 shares in the company, valued at $1,163,490.50. This trade represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by company insiders.

Advance Auto Parts Price Performance

Shares of AAP traded down $0.08 on Thursday, reaching $32.66. The stock had a trading volume of 589,339 shares, compared to its average volume of 2,217,507. The firm has a market capitalization of $1.95 billion, a PE ratio of 44.77, a PEG ratio of 1.98 and a beta of 1.07. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $77.60. The firm has a 50-day moving average of $36.76 and a 200 day moving average of $40.94. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 3.06%. Advance Auto Parts's dividend payout ratio is currently -17.86%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AAP shares. Wedbush reiterated an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a report on Monday, March 3rd. Royal Bank of Canada decreased their target price on 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. Wells Fargo & Company increased their price target on 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. Evercore ISI cut their target price on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 11th. Finally, Truist Financial reduced 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 report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $45.13.

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.