Insider Buying: Advance Auto Parts, Inc. (NYSE:AAP) CEO Acquires $55,185.00 in Stock

Advance Auto Parts, Inc. (NYSE:AAP) CEO Shane M. Okelly purchased 1,500 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were bought 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. The trade was a 0.83 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Advance Auto Parts Price Performance

NYSE AAP opened at $37.63 on Friday. Advance Auto Parts, Inc. has a 12 month low of $33.08 and a 12 month high of $88.56. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 1.98 and a beta of 1.27. The company’s 50 day moving average is $44.17 and its two-hundred day moving average is $42.30. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

Advance Auto Parts Announces Dividend

The business also recently disclosed 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 2.66%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s payout ratio is currently -17.86%.

Institutional Investors Weigh In On Advance Auto Parts

Several institutional investors and hedge funds have recently modified their holdings of the stock. United Advisor Group LLC bought a new stake in shares of Advance Auto Parts during the fourth quarter valued at approximately $356,000. Mackenzie Financial Corp bought a new stake in shares of Advance Auto Parts during the fourth quarter valued at approximately $953,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Advance Auto Parts by 6.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,961 shares of the company’s stock valued at $7,470,000 after buying an additional 9,803 shares during the last quarter. Towle & Co. raised its position in shares of Advance Auto Parts by 2.1% during the fourth quarter. Towle & Co. now owns 352,778 shares of the company’s stock valued at $16,683,000 after buying an additional 7,123 shares during the last quarter. Finally, Tairen Capital Ltd grew its holdings in shares of Advance Auto Parts by 415.8% in the fourth quarter. Tairen Capital Ltd now owns 215,851 shares of the company’s stock valued at $10,208,000 after purchasing an additional 174,000 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AAP. Barclays dropped their price target on shares of 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. Royal Bank of Canada lowered their price objective on shares of 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. Wells Fargo & Company increased their price objective on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Citigroup lowered their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, BMO Capital Markets lowered their price objective on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $45.13.

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.