KLP Kapitalforvaltning AS Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

KLP Kapitalforvaltning AS bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,200 shares of the company's stock, valued at approximately $577,000.

A number of other institutional investors also recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its stake in shares of 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 during the period. Yousif Capital Management LLC increased its position in shares of Advance Auto Parts by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 26,258 shares of the company's stock worth $1,242,000 after acquiring an additional 281 shares during the period. Ingalls & Snyder LLC increased its stake in shares of Advance Auto Parts by 5.0% during the fourth quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company's stock valued at $316,000 after buying an additional 317 shares during the period. Versant Capital Management Inc increased its holdings in 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 buying an additional 365 shares during the period. Finally, Blue Trust Inc. grew its stake in 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 last quarter. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Trading Up 1.0 %

Shares of Advance Auto Parts stock opened at $39.40 on Thursday. The company has a 50-day moving average of $42.05 and a two-hundred day moving average of $41.85. The stock has a market cap of $2.36 billion, a PE ratio of 53.97, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a 12-month low of $33.08 and a 12-month high of $85.30. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

Advance Auto Parts Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's dividend payout ratio is presently -17.86%.

Insiders Place Their Bets

In other news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the business's stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the acquisition, the director now directly owns 34,070 shares of the company's stock, valued at $1,163,490.50. This represents a 75.35 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shane M. Okelly bought 1,500 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the transaction, the chief executive officer now owns 183,121 shares in the company, valued at $6,737,021.59. This represents a 0.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays lowered their price objective on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, January 9th. Evercore ISI decreased their price objective on Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Wells Fargo & Company raised their target price on Advance Auto Parts from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Citigroup cut their price objective on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Royal Bank of Canada lowered 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. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts currently has an average rating of "Hold" and an average target price of $45.13.

Remove Ads

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.