United Advisor Group LLC Acquires Shares of 7,535 Advance Auto Parts, Inc. (NYSE:AAP)

United Advisor Group LLC purchased a new position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,535 shares of the company's stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AAP. Allworth Financial LP grew its position in shares of Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company's stock worth $40,000 after buying an additional 818 shares during the period. Vision Financial Markets LLC bought a new position in Advance Auto Parts during the 4th quarter worth approximately $42,000. Advisory Services Network LLC acquired a new position in Advance Auto Parts during the fourth quarter valued at approximately $46,000. Blue Trust Inc. increased its stake in 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 in the last quarter. Finally, KBC Group NV raised its holdings in Advance Auto Parts by 51.6% in the fourth quarter. KBC Group NV now owns 2,651 shares of the company's stock worth $125,000 after purchasing an additional 902 shares during the period. Institutional investors own 88.75% of the company's stock.

Advance Auto Parts Stock Down 8.2%

Shares of NYSE:AAP traded down $4.34 during trading on Thursday, hitting $48.37. 5,027,134 shares of the company were exchanged, compared to its average volume of 2,480,640. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $71.09. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 66.26, a P/E/G ratio of 1.98 and a beta of 0.93. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average price of $35.41 and a two-hundred day moving average price of $40.62.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.81) by $0.59. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.51 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm's revenue for the quarter was down 24.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. As a group, research analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts's payout ratio is currently -17.04%.

Analyst Upgrades and Downgrades

AAP has been the subject of several research analyst reports. Evercore ISI boosted their price target on shares of Advance Auto Parts from $35.00 to $45.00 and gave the company an "in-line" rating in a report on Friday, May 23rd. Truist Financial reduced their target price 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. Roth Capital set a $50.00 price target on Advance Auto Parts and gave the stock a "neutral" rating in a report on Wednesday. Raymond James lifted their price objective on Advance Auto Parts to $49.17 and gave the company a "hold" rating in a report on Monday. Finally, Citigroup lowered 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. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $46.11.

Insiders Place Their Bets

In other news, CEO Shane M. Okelly bought 1,500 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the transaction, the chief executive officer now 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 filing with the SEC, which is accessible through the SEC website. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the company's stock in a transaction that occurred on 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 acquisition, the director now owns 34,070 shares in the company, valued at $1,163,490.50. The trade was a 75.35% increase in their position. The disclosure for this purchase can be found here. Company 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.