Advance Auto Parts, Inc. (NYSE:AAP) Stock Holdings Lifted by Estuary Capital Management LP

Estuary Capital Management LP increased its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 955,117 shares of the company's stock after buying an additional 168,149 shares during the period. Advance Auto Parts comprises 13.2% of Estuary Capital Management LP's portfolio, making the stock its 3rd largest holding. Estuary Capital Management LP owned approximately 1.60% of Advance Auto Parts worth $45,167,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of Advance Auto Parts by 1,543.4% in the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock worth $40,000 after acquiring an additional 818 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in shares of Advance Auto Parts in the fourth quarter worth $42,000. Advisory Services Network LLC acquired a new stake in shares of Advance Auto Parts in the fourth quarter worth $46,000. GAMMA Investing LLC increased its position in shares of Advance Auto Parts by 198.3% in 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 in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Advance Auto Parts by 38.9% in 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 during the period. Institutional investors and hedge funds own 88.75% of the company's stock.

Advance Auto Parts Price Performance

Shares of AAP stock traded down $0.49 during midday trading on Friday, reaching $30.90. 2,267,416 shares of the company were exchanged, compared to its average volume of 2,262,497. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $77.49. The company has a market cap of $1.85 billion, a P/E ratio of 42.33, a PEG ratio of 1.98 and a beta of 0.93. The company's 50 day moving average price is $34.61 and its two-hundred day moving average price is $40.42. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.

Advance Auto Parts Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Friday, April 11th. Advance Auto Parts's dividend payout ratio is presently -17.86%.

Insider Transactions at Advance Auto Parts

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

Analyst Ratings Changes

Several research analysts have recently weighed in on AAP shares. Evercore ISI decreased 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 note on Tuesday, March 11th. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. 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 report on Thursday, February 27th. BMO Capital Markets dropped their price objective on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. Finally, Citigroup dropped their price objective on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $45.13.

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.