Advance Auto Parts, Inc. (NYSE:AAP) Shares Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL grew its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 13.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 413,425 shares of the company's stock after purchasing an additional 47,575 shares during the period. Gamco Investors INC. ET AL owned approximately 0.69% of Advance Auto Parts worth $19,551,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AAP. Blue Trust Inc. lifted its holdings in Advance Auto Parts by 75.9% in the 4th quarter. Blue Trust Inc. now owns 2,119 shares of the company's stock worth $100,000 after buying an additional 914 shares in the last quarter. Annandale Capital LLC lifted its stake in shares of Advance Auto Parts by 46.6% in the fourth quarter. Annandale Capital LLC now owns 109,241 shares of the company's stock worth $5,166,000 after acquiring an additional 34,746 shares in the last quarter. Moody National Bank Trust Division purchased a new position in Advance Auto Parts in the fourth quarter valued at about $1,196,000. Raymond James Financial Inc. acquired a new stake in Advance Auto Parts during the 4th quarter valued at approximately $8,822,000. Finally, Commonwealth Equity Services LLC increased its holdings in Advance Auto Parts by 97.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 305,622 shares of the company's stock worth $14,453,000 after purchasing an additional 150,604 shares during the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AAP has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their price target on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Barclays dropped their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, January 9th. Truist Financial reduced 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. Evercore ISI lowered their price objective on Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a report on Tuesday, March 11th. Finally, BMO Capital Markets reduced their target price 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. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $45.13.

Insider Activity at Advance Auto Parts

In related news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the purchase, the director now directly owns 34,070 shares of the company's stock, valued at $1,163,490.50. The trade was a 75.35 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 purchased 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 owns 183,121 shares of the company's stock, 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. 0.35% of the stock is currently owned by insiders.

Advance Auto Parts Stock Performance

AAP stock traded down $0.14 on Monday, reaching $31.73. The company's stock had a trading volume of 407,672 shares, compared to its average volume of 2,215,548. The firm has a fifty day moving average of $37.68 and a two-hundred day moving average of $41.09. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The company has a market capitalization of $1.90 billion, a P/E ratio of 43.47, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $79.41.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's payout ratio is currently -17.86%.

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.