Boston Partners Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Boston Partners bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 22,989 shares of the company’s stock, valued at approximately $1,087,000.

Several other large investors have also modified their holdings of the stock. Versant Capital Management Inc raised its stake in Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after buying an additional 365 shares in the last quarter. Allworth Financial LP raised its position in shares of Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after acquiring an additional 818 shares in the last quarter. Vision Financial Markets LLC bought a new position in Advance Auto Parts during the fourth quarter worth $42,000. GAMMA Investing LLC boosted its holdings in Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after purchasing an additional 1,047 shares during the period. Finally, Blue Trust Inc. increased its stake in Advance Auto Parts by 38.9% during the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company’s stock valued at $79,000 after purchasing an additional 469 shares during the last quarter. Institutional investors own 88.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAP. Citigroup decreased their price target on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Truist Financial lowered their target price on Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Barclays cut their price target on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research note on Monday, March 3rd. Finally, Royal Bank of Canada cut their target price on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.13.

Advance Auto Parts Trading Down 0.6 %

Advance Auto Parts stock opened at $37.43 on Friday. Advance Auto Parts, Inc. has a 12-month low of $33.08 and a 12-month high of $87.36. The stock has a market capitalization of $2.24 billion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. The firm has a 50 day simple moving average of $43.12 and a 200-day simple moving average of $41.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly bought 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 directly owns 183,121 shares of the company’s stock, valued at $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $34.15 per share, with a total value of $499,956.00. Following the completion of the acquisition, the director now directly owns 34,070 shares of the company’s stock, valued at $1,163,490.50. This represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. Company 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.