Mercer Global Advisors Inc. ADV Acquires New Shares in Advance Auto Parts, Inc. (NYSE:AAP)

Mercer Global Advisors Inc. ADV bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,814 shares of the company's stock, valued at approximately $417,000.

A number of other institutional investors have also added to or reduced their stakes in AAP. Price T Rowe Associates Inc. MD boosted its stake in shares of Advance Auto Parts by 34.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock valued at $316,160,000 after purchasing an additional 1,706,328 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Advance Auto Parts by 11.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,449,554 shares of the company's stock worth $163,129,000 after buying an additional 347,587 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in Advance Auto Parts by 12.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock worth $154,681,000 after buying an additional 362,239 shares during the period. Dimensional Fund Advisors LP boosted its position in Advance Auto Parts by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company's stock valued at $129,016,000 after acquiring an additional 297,741 shares in the last quarter. Finally, Cooper Creek Partners Management LLC purchased a new position in shares of Advance Auto Parts in the 4th quarter valued at $75,055,000. Hedge funds and other institutional investors own 88.75% of the company's stock.

Advance Auto Parts Stock Performance

AAP opened at $33.22 on Wednesday. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $77.13. The firm has a market capitalization of $1.99 billion, a PE ratio of 45.51, a PEG 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's 50-day moving average price is $34.58 and its 200 day moving average price is $40.35.

Analyst Upgrades and Downgrades

AAP has been the subject of a number of analyst reports. BMO Capital Markets decreased their price objective on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating for the company in a research note on Thursday, February 27th. 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. Wedbush restated an "outperform" rating and issued a $55.00 price target on shares of Advance Auto Parts in a report on Monday, March 3rd. Truist Financial reduced their price objective on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Finally, Citigroup lowered their target price on shares of 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 investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $45.13.

Insiders Place Their Bets

In related news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the stock in a transaction on Thursday, March 6th. The shares were bought at an average price 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 of the company's stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shane M. Okelly bought 1,500 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $36.79 per share, with a total value of $55,185.00. Following the completion of the purchase, the chief executive officer now directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. The trade was a 0.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.

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