Savoir Faire Capital Management L.P. Takes $5.77 Million Position in Advance Auto Parts, Inc. (NYSE:AAP)

Savoir Faire Capital Management L.P. bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 122,000 shares of the company's stock, valued at approximately $5,769,000. Advance Auto Parts comprises 2.7% of Savoir Faire Capital Management L.P.'s holdings, making the stock its 14th largest holding. Savoir Faire Capital Management L.P. owned approximately 0.20% of Advance Auto Parts as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its stake 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 acquiring an additional 365 shares during the last quarter. Allworth Financial LP boosted its position in shares of Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock worth $40,000 after purchasing an additional 818 shares in the last quarter. Vision Financial Markets LLC acquired a new position in shares of Advance Auto Parts in the 4th quarter valued at $42,000. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 1,047 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Advance Auto Parts by 38.9% in the 4th quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock valued at $79,000 after buying an additional 469 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, CEO Shane M. Okelly bought 1,500 shares of the company's stock in a transaction dated 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 acquisition, the chief executive officer now 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of Advance Auto Parts stock in a transaction that occurred 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 acquisition, the director now directly owns 34,070 shares of the company's stock, valued at $1,163,490.50. This trade represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.35% of the company's stock.

Advance Auto Parts Stock Down 2.4 %

AAP stock traded down $0.72 during mid-day trading on Wednesday, reaching $29.59. The company had a trading volume of 1,420,003 shares, compared to its average volume of 2,193,179. Advance Auto Parts, Inc. has a 52 week low of $28.98 and a 52 week high of $79.85. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 1.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The stock has a 50 day simple moving average of $40.49 and a two-hundred day simple moving average of $41.54.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 3.38%. Advance Auto Parts's payout ratio is -17.86%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup decreased their target price on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Truist Financial lowered their target price on 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. Wedbush reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Advance Auto Parts in a research note on Monday, March 3rd. Wells Fargo & Company increased 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 report on Monday, January 6th. Finally, Barclays cut their price objective on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.