Marshall Wace LLP Boosts Position in Advance Auto Parts, Inc. (NYSE:AAP)

Marshall Wace LLP increased its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 2,585.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,353,912 shares of the company's stock after buying an additional 1,303,488 shares during the period. Marshall Wace LLP owned 2.27% of Advance Auto Parts worth $64,026,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Advance Auto Parts during the fourth quarter worth about $307,000. Gamco Investors INC. ET AL grew its position in Advance Auto Parts by 13.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 413,425 shares of the company's stock worth $19,551,000 after acquiring an additional 47,575 shares in the last quarter. Keeley Teton Advisors LLC increased its position in shares of Advance Auto Parts by 16.9% during the 4th quarter. Keeley Teton Advisors LLC now owns 16,446 shares of the company's stock valued at $778,000 after purchasing an additional 2,375 shares during the last quarter. Gabelli Funds LLC lifted its stake in Advance Auto Parts by 33.7% in the fourth quarter. Gabelli Funds LLC now owns 22,600 shares of the company's stock worth $1,069,000 after purchasing an additional 5,700 shares during the last quarter. Finally, Mariner LLC purchased a new position in shares of Advance Auto Parts in the fourth quarter valued at about $263,000. Institutional investors own 88.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Evercore ISI reduced their price target 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. BMO Capital Markets reduced their target price on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. Barclays lowered their target price on 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. Truist Financial decreased 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. Finally, Wells Fargo & Company upped their price target on Advance Auto Parts from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Advance Auto Parts currently has an average rating of "Hold" and a consensus target price of $45.13.

Advance Auto Parts Price Performance

AAP traded down $0.15 during trading hours on Wednesday, hitting $32.79. The company's stock had a trading volume of 752,771 shares, compared to its average volume of 2,214,760. The business's 50-day moving average price is $37.07 and its 200-day moving average price is $40.99. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $78.09. 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 stock has a market cap of $1.96 billion, a price-to-earnings ratio of 44.92, a P/E/G ratio of 1.98 and a beta of 1.07.

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 given 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 yield of 3.05%. Advance Auto Parts's dividend payout ratio is presently -17.86%.

Insider Transactions at Advance Auto Parts

In related news, CEO Shane M. Okelly purchased 1,500 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the purchase, the chief executive officer now directly owns 183,121 shares of the company's stock, valued at approximately $6,737,021.59. This represents a 0.83 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of Advance Auto Parts stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company's stock.

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.