Capital World Investors Lowers Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Capital World Investors lowered its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,944,740 shares of the company's stock after selling 249,991 shares during the period. Capital World Investors owned 3.26% of Advance Auto Parts worth $91,967,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AAP. Versant Capital Management Inc raised its holdings in shares of Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company's stock worth $26,000 after purchasing an additional 365 shares during the last quarter. Allworth Financial LP raised its holdings 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 during the last quarter. Vision Financial Markets LLC purchased a new position in shares of Advance Auto Parts during the fourth quarter worth $42,000. Advisory Services Network LLC purchased a new position in shares of Advance Auto Parts during the fourth quarter worth $46,000. Finally, GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 1,047 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. BMO Capital Markets reduced their target price on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating for the company in a report 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 company an "equal weight" rating in a research report on Monday, January 6th. Truist Financial dropped their price target 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. Citigroup dropped their price target on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, Wedbush restated an "outperform" rating and set a $55.00 price target on shares of Advance Auto Parts in a research report on Monday, March 3rd. 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $45.13.

Advance Auto Parts Price Performance

Shares of NYSE AAP traded down $0.10 during trading on Friday, hitting $32.84. The company had a trading volume of 1,288,154 shares, compared to its average volume of 2,232,170. The stock has a fifty day simple moving average of $36.22 and a two-hundred day simple moving average of $40.89. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $77.49. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 44.98, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, April 11th. Advance Auto Parts's dividend payout ratio is currently -17.86%.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were purchased at an average cost 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 in the company, valued at approximately $1,163,490.50. This represents a 75.35 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Shane M. Okelly purchased 1,500 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the purchase, the chief executive officer now 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 disclosure for this purchase can be found here. Insiders own 0.35% of the company's stock.

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.