93,996 Shares in Advance Auto Parts, Inc. (NYSE:AAP) Bought by Ninety One UK Ltd

Ninety One UK Ltd bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 93,996 shares of the company's stock, valued at approximately $5,737,000. Ninety One UK Ltd owned 0.16% of Advance Auto Parts at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC raised its stake in Advance Auto Parts by 4.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,717 shares of the company's stock worth $252,000 after purchasing an additional 77 shares during the period. Covestor Ltd raised its stake in shares of Advance Auto Parts by 113.7% in the 1st quarter. Covestor Ltd now owns 156 shares of the company's stock valued at $32,000 after acquiring an additional 83 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Advance Auto Parts by 4.1% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,173 shares of the company's stock valued at $340,000 after acquiring an additional 86 shares during the period. Wetherby Asset Management Inc. raised its stake in shares of Advance Auto Parts by 6.5% in the 1st quarter. Wetherby Asset Management Inc. now owns 1,418 shares of the company's stock valued at $293,000 after acquiring an additional 87 shares during the period. Finally, Baird Financial Group Inc. raised its stake in shares of Advance Auto Parts by 0.6% in the 4th quarter. Baird Financial Group Inc. now owns 15,845 shares of the company's stock valued at $2,329,000 after acquiring an additional 89 shares during the period. 88.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AAP has been the topic of a number of research analyst reports. TheStreet raised shares of Advance Auto Parts from a "d+" rating to a "c-" rating in a research note on Monday, January 22nd. Royal Bank of Canada upped their target price on shares of Advance Auto Parts from $47.00 to $68.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 29th. Truist Financial upped their target price on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a "hold" rating in a research note on Tuesday, April 2nd. Evercore ISI cut their target price on shares of Advance Auto Parts from $82.00 to $78.00 and set an "in-line" rating on the stock in a research note on Tuesday. Finally, Barclays boosted their price target on shares of Advance Auto Parts from $56.00 to $66.00 and gave the stock an "equal weight" rating in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $70.18.

Advance Auto Parts Stock Performance

AAP stock traded up $1.49 on Friday, hitting $78.69. The company's stock had a trading volume of 1,721,378 shares, compared to its average volume of 1,849,411. The firm has a 50 day moving average of $74.57 and a two-hundred day moving average of $63.57. Advance Auto Parts, Inc. has a 1 year low of $47.73 and a 1 year high of $129.90. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 106.34, a price-to-earnings-growth ratio of 1.34 and a beta of 1.17. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $2.47 billion. During the same quarter last year, the company earned $2.88 EPS. The firm's revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts predict that Advance Auto Parts, Inc. will post 3.94 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. Advance Auto Parts's payout ratio is currently 135.14%.

Insiders Place Their Bets

In other news, Director Carla Jean Bailo acquired 310 shares of the business's stock in a transaction on Monday, March 18th. The stock was bought at an average price of $81.19 per share, for a total transaction of $25,168.90. Following the transaction, the director now owns 5,789 shares in the company, valued at $470,008.91. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Advance Auto Parts news, EVP Herman L. Word, Jr. sold 1,858 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the transaction, the executive vice president now owns 10,448 shares in the company, valued at approximately $899,363.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carla Jean Bailo acquired 310 shares of the business's stock in a transaction on Monday, March 18th. The shares were purchased at an average price of $81.19 per share, with a total value of $25,168.90. Following the transaction, the director now owns 5,789 shares in the company, valued at approximately $470,008.91. The disclosure for this purchase can be found here. 0.63% of the stock is owned by insiders.

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.