New Age Alpha Advisors LLC Invests $4.68 Million in Advance Auto Parts, Inc. (NYSE:AAP)

New Age Alpha Advisors LLC acquired a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 99,019 shares of the company's stock, valued at approximately $4,683,000. New Age Alpha Advisors LLC owned about 0.17% of Advance Auto Parts as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pzena Investment Management LLC grew its holdings in shares of Advance Auto Parts by 12.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock valued at $154,681,000 after purchasing an additional 362,239 shares during the last quarter. Royce & Associates LP grew its stake in Advance Auto Parts by 30.4% during the 4th quarter. Royce & Associates LP now owns 1,403,004 shares of the company's stock worth $66,348,000 after buying an additional 327,417 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Advance Auto Parts by 2,662.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock worth $61,156,000 after buying an additional 1,246,384 shares during the period. Allianz Asset Management GmbH lifted its stake in Advance Auto Parts by 244.7% in the fourth quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company's stock valued at $35,006,000 after buying an additional 525,504 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Advance Auto Parts during the fourth quarter valued at $34,586,000. Institutional investors and hedge funds own 88.75% of the company's stock.

Insider Buying and Selling

In other news, CEO Shane M. Okelly bought 1,500 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost 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 in the company, valued at $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were acquired at an average price of $34.15 per share, with a total value of $499,956.00. Following the completion of the transaction, the director now directly owns 34,070 shares in the company, 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. 0.35% of the stock is currently owned by company insiders.

Advance Auto Parts Price Performance

Shares of NYSE AAP traded up $0.34 during trading on Wednesday, hitting $39.36. The company had a trading volume of 834,282 shares, compared to its average volume of 2,263,521. The company has a market cap of $2.35 billion, a P/E ratio of 53.92, a PEG ratio of 1.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The business's 50-day moving average is $42.20 and its 200 day moving average is $41.86. Advance Auto Parts, Inc. has a 52 week low of $33.08 and a 52 week high of $85.30.

Advance Auto Parts Announces Dividend

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 dividend yield of 2.54%. Advance Auto Parts's dividend payout ratio (DPR) is -17.86%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AAP. Truist Financial cut 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 research report on Thursday, February 27th. Royal Bank of Canada reduced their price objective on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. BMO Capital Markets lowered their target price 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. Citigroup reduced their price target 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, Evercore ISI lowered 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. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $45.13.

About Advance Auto Parts

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.