International Assets Investment Management LLC Buys New Shares in Advance Auto Parts, Inc. (NYSE:AAP)

International Assets Investment Management LLC bought a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 55,110 shares of the company's stock, valued at approximately $3,363,000. International Assets Investment Management LLC owned approximately 0.09% of Advance Auto Parts at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clear Street Markets LLC boosted its position in Advance Auto Parts by 245.9% during the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company's stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Advance Auto Parts in the 2nd quarter worth $28,000. UMB Bank n.a. boosted its position in shares of Advance Auto Parts by 508.3% in the 3rd quarter. UMB Bank n.a. now owns 511 shares of the company's stock worth $29,000 after purchasing an additional 427 shares in the last quarter. Covestor Ltd boosted its position in shares of Advance Auto Parts by 113.7% in the 1st quarter. Covestor Ltd now owns 156 shares of the company's stock worth $32,000 after purchasing an additional 83 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Advance Auto Parts by 264.6% in the 3rd quarter. Larson Financial Group LLC now owns 689 shares of the company's stock worth $39,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 88.75% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AAP. Barclays raised their price objective on Advance Auto Parts from $56.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 29th. Royal Bank of Canada lifted their price target on Advance Auto Parts from $47.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their price target on Advance Auto Parts from $55.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday, February 29th. Evercore ISI reduced their price objective on Advance Auto Parts from $82.00 to $78.00 and set an "in-line" rating for the company in a research note on Tuesday. Finally, Truist Financial lifted their price objective on Advance Auto Parts from $60.00 to $70.00 and gave the company a "hold" rating in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $70.18.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock traded up $3.15 on Thursday, hitting $77.20. 2,123,050 shares of the company were exchanged, compared to its average volume of 1,850,975. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 104.32, a price-to-earnings-growth ratio of 1.30 and a beta of 1.17. The company has a 50-day moving average price of $74.26 and a 200 day moving average price of $63.40. Advance Auto Parts, Inc. has a 1-year low of $47.73 and a 1-year high of $129.90. The company has a quick ratio of 0.29, a current ratio of 1.20 and a debt-to-equity ratio of 0.71.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. The company's revenue was down .4% on a year-over-year basis. As a group, sell-side analysts predict that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Thursday, April 11th. Advance Auto Parts's dividend payout ratio is presently 135.14%.

Insider Activity at Advance Auto Parts

In related news, EVP Herman L. Word, Jr. sold 1,858 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $86.08, for a total value of $159,936.64. Following the transaction, the executive vice president now directly owns 10,448 shares in the company, valued at $899,363.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Brent Windom bought 4,700 shares of the business's stock in a transaction on Wednesday, March 27th. The shares were bought at an average price of $85.34 per share, with a total value of $401,098.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $853,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $86.08, for a total value of $159,936.64. Following the completion of the sale, the executive vice president now directly owns 10,448 shares in the company, valued at approximately $899,363.84. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

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.