Northern Trust Corp Increases Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Northern Trust Corp increased its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 27.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 444,743 shares of the company's stock after acquiring an additional 95,754 shares during the quarter. Northern Trust Corp owned 0.74% of Advance Auto Parts worth $21,032,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position 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 purchasing an additional 1,706,328 shares in the last quarter. Cooper Creek Partners Management LLC bought a new position in Advance Auto Parts in the fourth quarter worth approximately $75,055,000. Marshall Wace LLP grew its stake in Advance Auto Parts by 2,585.1% in the fourth quarter. Marshall Wace LLP now owns 1,353,912 shares of the company's stock valued at $64,026,000 after acquiring an additional 1,303,488 shares during the period. Thrivent Financial for Lutherans grew its stake in Advance Auto Parts by 2,662.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock valued at $61,156,000 after acquiring an additional 1,246,384 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Advance Auto Parts during the fourth quarter valued at approximately $34,586,000. Institutional investors and hedge funds own 88.75% of the company's stock.

Advance Auto Parts Stock Performance

Shares of NYSE AAP traded up $0.57 during midday trading on Friday, hitting $34.99. The company's stock had a trading volume of 2,399,325 shares, compared to its average volume of 2,273,495. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 47.93, 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 stock has a fifty day moving average price of $34.47 and a 200 day moving average price of $40.28. Advance Auto Parts, Inc. has a one year low of $28.89 and a one year high of $75.89.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AAP shares. Royal Bank of Canada reduced their price objective on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Wedbush reiterated an "outperform" rating and set a $55.00 price target on shares of Advance Auto Parts in a research note on Monday, March 3rd. Evercore ISI decreased 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. Citigroup dropped their target price 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. Finally, Truist Financial cut their price objective on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $45.13.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts 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 bought at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Shane M. Okelly purchased 1,500 shares of the stock in a transaction on Tuesday, March 11th. The stock was 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 owns 183,121 shares in the company, valued at approximately $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. Insiders own 0.35% of the company's stock.

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.