Johnson Investment Counsel Inc. Acquires Shares of 10,245 Advance Auto Parts, Inc. (NYSE:AAP)

Johnson Investment Counsel Inc. purchased a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,245 shares of the company's stock, valued at approximately $484,000.

Several other hedge funds have also added to or reduced their stakes in AAP. Versant Capital Management Inc lifted its holdings in Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company's stock worth $26,000 after purchasing an additional 365 shares during the last quarter. Allworth Financial LP lifted 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 worth $40,000 after purchasing an additional 818 shares during the last quarter. Vision Financial Markets LLC acquired a new position in Advance Auto Parts in the 4th quarter valued at $42,000. KBC Group NV raised its holdings in Advance Auto Parts by 29.1% in the 3rd quarter. KBC Group NV now owns 1,749 shares of the company's stock valued at $68,000 after acquiring an additional 394 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Advance Auto Parts by 198.3% in the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company's stock valued at $74,000 after acquiring an additional 1,047 shares in the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

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Analyst Ratings Changes

Several equities analysts have weighed in on AAP shares. Royal Bank of Canada dropped their price objective 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. Evercore ISI dropped their price objective on Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a report on Tuesday, March 11th. Truist Financial lowered their price target on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a report on Thursday, February 27th. 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, BMO Capital Markets reduced their price objective on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $45.13.

Advance Auto Parts Stock Performance

Shares of AAP stock traded up $0.23 during trading on Monday, hitting $37.82. The company's stock had a trading volume of 1,807,771 shares, compared to its average volume of 2,118,350. The company has a market cap of $2.26 billion, a PE ratio of 51.80, a P/E/G ratio of 1.98 and a beta of 1.27. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $44.00 and a 200-day moving average of $42.15. Advance Auto Parts, Inc. has a 52 week low of $33.08 and a 52 week high of $88.56.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's dividend payout ratio is presently -17.86%.

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.