Segall Bryant & Hamill LLC Purchases Shares of 731,354 Advance Auto Parts, Inc. (NYSE:AAP)

Segall Bryant & Hamill LLC acquired a new position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 731,354 shares of the company's stock, valued at approximately $34,586,000. Segall Bryant & Hamill LLC owned 1.22% of Advance Auto Parts as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of AAP. Versant Capital Management Inc grew its holdings in Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company's stock valued at $26,000 after purchasing an additional 365 shares during the period. Allworth Financial LP grew its stake in Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company's stock valued at $40,000 after acquiring an additional 818 shares during the period. Vision Financial Markets LLC purchased a new stake in Advance Auto Parts in the 4th quarter worth $42,000. GAMMA Investing LLC raised its position in Advance Auto Parts by 198.3% during the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company's stock worth $74,000 after acquiring an additional 1,047 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Advance Auto Parts by 38.9% during the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock valued at $79,000 after purchasing an additional 469 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Trading Down 3.6 %

Shares of NYSE AAP traded down $1.45 during trading on Friday, reaching $38.92. The stock had a trading volume of 2,756,231 shares, compared to its average volume of 2,156,543. 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 company has a market cap of $2.33 billion, a P/E ratio of 53.32, a PEG ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a fifty-two week low of $33.08 and a fifty-two week high of $86.47. The business's 50-day moving average price is $42.48 and its 200-day moving average price is $41.86.

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 given 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 currently -17.86%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AAP. Wells Fargo & Company boosted their target price 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. Wedbush restated an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a research report on Monday, March 3rd. Citigroup reduced their price objective 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 decreased their price objective on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Finally, Evercore ISI reduced their target price on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $45.13.

Insiders Place Their Bets

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 purchased at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the acquisition, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shane M. Okelly bought 1,500 shares of Advance Auto Parts stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the acquisition, the chief executive officer now owns 183,121 shares in the company, valued at $6,737,021.59. This represents 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.

Advance Auto Parts Company 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.