New Age Alpha Advisors LLC Acquires Shares of 99,019 Advance Auto Parts, Inc. (NYSE:AAP)

New Age Alpha Advisors LLC bought a new position in Advance Auto Parts, Inc. (NYSE:AAP) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 99,019 shares of the company’s stock, valued at approximately $4,683,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Advance Auto Parts in the 4th quarter worth about $10,867,000. WINTON GROUP Ltd purchased a new position in shares of Advance Auto Parts in the 4th quarter worth approximately $541,000. Segall Bryant & Hamill LLC bought a new position in shares of Advance Auto Parts in the fourth quarter valued at approximately $34,586,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Advance Auto Parts during the fourth quarter valued at approximately $577,000. Finally, Sei Investments Co. lifted its holdings in Advance Auto Parts by 11.2% during 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. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Trading Down 3.6 %

Shares of AAP opened at $38.92 on Friday. Advance Auto Parts, Inc. has a twelve month low of $33.08 and a twelve month high of $86.47. The stock has a market cap of $2.33 billion, a PE ratio of 53.32, a P/E/G ratio of 1.98 and a beta of 1.27. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $42.48 and its 200-day moving average price is $41.84.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio is presently -17.86%.

Insider Buying and Selling at Advance Auto Parts

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

Wall Street Analyst Weigh In

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 report on Thursday, February 27th. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a report on Monday, March 3rd. BMO Capital Markets dropped their target price on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company raised their price target 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. Finally, Truist Financial dropped their price objective on 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. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.