Mirae Asset Global Investments Co. Ltd. Acquires Shares of 24,309 Advance Auto Parts, Inc. (NYSE:AAP)

Mirae Asset Global Investments Co. Ltd. bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,309 shares of the company's stock, valued at approximately $1,484,000.

Several other institutional investors also recently modified their holdings of AAP. Allworth Financial LP boosted its holdings in shares of Advance Auto Parts by 190.0% in the fourth quarter. Allworth Financial LP now owns 406 shares of the company's stock worth $25,000 after acquiring an additional 266 shares during the period. UMB Bank n.a. raised its position in Advance Auto Parts by 508.3% during the third quarter. UMB Bank n.a. now owns 511 shares of the company's stock valued at $29,000 after purchasing an additional 427 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Advance Auto Parts by 264.6% in the third quarter. Larson Financial Group LLC now owns 689 shares of the company's stock worth $39,000 after buying an additional 500 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Advance Auto Parts by 594.2% in the third quarter. EverSource Wealth Advisors LLC now owns 840 shares of the company's stock worth $47,000 after buying an additional 719 shares during the period. Finally, CWM LLC increased its holdings in shares of Advance Auto Parts by 24.2% in the third quarter. CWM LLC now owns 1,620 shares of the company's stock worth $91,000 after buying an additional 316 shares during the period. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Stock Performance

Shares of AAP stock traded down $1.47 during mid-day trading on Monday, reaching $77.22. 1,992,483 shares of the company's stock traded hands, compared to its average volume of 1,851,910. Advance Auto Parts, Inc. has a 12 month low of $47.73 and a 12 month high of $128.00. The firm has a 50 day moving average price of $74.57 and a two-hundred day moving average price of $63.72. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.20. The firm has a market capitalization of $4.60 billion, a PE ratio of 104.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.83). The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.47 billion. Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The company's revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 EPS. On average, research analysts forecast that Advance Auto Parts, Inc. will post 3.94 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, April 11th. Advance Auto Parts's dividend payout ratio is currently 135.14%.

Insider Buying and Selling at Advance Auto Parts

In other news, EVP Herman L. Word, Jr. sold 1,858 shares of the company's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $86.08, for a total transaction of $159,936.64. Following the sale, the executive vice president now directly owns 10,448 shares in the company, valued at approximately $899,363.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Carla Jean Bailo acquired 310 shares of Advance Auto Parts stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average cost of $81.19 per share, with a total value of $25,168.90. Following the transaction, the director now directly owns 5,789 shares of the company's stock, valued at approximately $470,008.91. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the company's stock in a transaction dated Thursday, March 21st. The stock was 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 $899,363.84. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

AAP has been the topic of several analyst reports. Evercore ISI decreased their price objective on Advance Auto Parts from $82.00 to $78.00 and set an "in-line" rating on the stock in a report on Tuesday, April 16th. TheStreet upgraded Advance Auto Parts from a "d+" rating to a "c-" rating in a report on Monday, January 22nd. Barclays raised their target price on Advance Auto Parts from $56.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. raised their target price on Advance Auto Parts from $55.00 to $68.00 and gave the stock a "neutral" rating in a research note on Thursday, February 29th. Finally, Truist Financial raised their target price on Advance Auto Parts from $60.00 to $70.00 and gave the stock a "hold" rating in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $64.56.

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.