LPL Financial LLC Sells 7,830 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

LPL Financial LLC reduced its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,531 shares of the company's stock after selling 7,830 shares during the quarter. LPL Financial LLC owned 0.09% of Advance Auto Parts worth $2,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of AAP. KLP Kapitalforvaltning AS purchased a new stake in shares of Advance Auto Parts during the 4th quarter valued at about $577,000. Sei Investments Co. raised its position in Advance Auto Parts by 11.2% in the fourth quarter. Sei Investments Co. now owns 13,240 shares of the company's stock worth $626,000 after acquiring an additional 1,335 shares during the period. Goodman Financial Corp boosted its stake in shares of Advance Auto Parts by 28.5% during the 4th quarter. Goodman Financial Corp now owns 302,495 shares of the company's stock worth $14,305,000 after acquiring an additional 67,116 shares during the last quarter. Blueshift Asset Management LLC increased its stake in shares of Advance Auto Parts by 107.5% in the 4th quarter. Blueshift Asset Management LLC now owns 14,717 shares of the company's stock worth $696,000 after purchasing an additional 7,623 shares in the last quarter. Finally, Boston Partners bought a new position in Advance Auto Parts in the 4th quarter worth $1,087,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Advance Auto Parts

In other news, Director Eugene I. Lee, Jr. bought 14,640 shares of the stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the acquisition, the director now owns 34,070 shares of the company's stock, valued at $1,163,490.50. This represents a 75.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shane M. Okelly purchased 1,500 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the transaction, the chief executive officer now directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. This represents a 0.83 % increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is owned by corporate insiders.

Advance Auto Parts Trading Up 3.0 %

AAP stock traded up $0.91 during midday trading on Friday, reaching $31.79. The company's stock had a trading volume of 1,617,625 shares, compared to its average volume of 2,220,703. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $79.41. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 43.55, a PEG ratio of 1.98 and a beta of 1.07. The stock has a fifty day simple moving average of $37.98 and a two-hundred day simple moving average of $41.09. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.

Advance Auto Parts Dividend Announcement

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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's dividend payout ratio is presently -17.86%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AAP. Truist Financial decreased their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Evercore ISI reduced their price objective on 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. 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 report on Thursday, February 27th. Wedbush reaffirmed an "outperform" rating and set a $55.00 price target on shares of Advance Auto Parts in a research note on Monday, March 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of 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. 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 company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $45.13.

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.