Jacobs Levy Equity Management Inc. Increases Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Jacobs Levy Equity Management Inc. lifted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 49.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,486 shares of the company's stock after acquiring an additional 12,700 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.06% of Advance Auto Parts worth $1,820,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AAP. Eminence Capital LP purchased a new stake in shares of Advance Auto Parts during the 4th quarter worth approximately $87,214,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Advance Auto Parts by 34.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock worth $316,160,000 after acquiring an additional 1,706,328 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new stake in shares of Advance Auto Parts during the 4th quarter worth approximately $75,055,000. Marshall Wace LLP boosted its stake in shares of Advance Auto Parts by 2,585.1% during the 4th quarter. Marshall Wace LLP now owns 1,353,912 shares of the company's stock worth $64,026,000 after acquiring an additional 1,303,488 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Advance Auto Parts by 2,662.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock worth $61,156,000 after acquiring an additional 1,246,384 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company's stock.

Advance Auto Parts Trading Up 5.2%

Shares of AAP opened at $34.42 on Friday. The company has a market capitalization of $2.06 billion, a PE ratio of 47.15, a price-to-earnings-growth ratio of 1.98 and a beta of 0.93. 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 stock has a fifty day moving average of $34.47 and a two-hundred day moving average of $40.28. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $75.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AAP shares. Evercore ISI reduced their target price on Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada reduced their target price on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Citigroup reduced their target price on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Wedbush reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. Finally, 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 research note on Thursday, February 27th. 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. According to data from MarketBeat.com, Advance Auto Parts has a consensus rating of "Hold" and an average price target of $45.13.

Insider Buying and Selling

In other news, CEO Shane M. Okelly bought 1,500 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $36.79 per share, with a total value of $55,185.00. Following the transaction, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. This trade represents a 75.35% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.35% of the company's stock.

Advance Auto Parts 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.

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