Ninety One UK Ltd Acquires New Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Ninety One UK Ltd acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP) during the 4th quarter, Holdings Channel.com reports. The firm acquired 93,996 shares of the company’s stock, valued at approximately $5,737,000.

Other large investors also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in Advance Auto Parts by 190.0% during the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares during the period. Clear Street Markets LLC increased its holdings in Advance Auto Parts by 245.9% during the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the period. UniSuper Management Pty Ltd purchased a new stake in Advance Auto Parts during the 2nd quarter worth about $28,000. UMB Bank n.a. increased its holdings in Advance Auto Parts by 508.3% during 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 during the period. Finally, Covestor Ltd increased its holdings in Advance Auto Parts by 113.7% during the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, Director Carla Jean Bailo bought 310 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was acquired at an average cost of $81.19 per share, with a total value of $25,168.90. Following the purchase, the director now owns 5,789 shares in the company, valued at approximately $470,008.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Advance Auto Parts news, Director Carla Jean Bailo bought 310 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was acquired at an average cost of $81.19 per share, with a total value of $25,168.90. Following the purchase, the director now owns 5,789 shares in the company, valued at approximately $470,008.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the 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 of the company’s stock, valued at $899,363.84. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AAP. TheStreet upgraded Advance Auto Parts from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Evercore ISI lowered 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 report on Tuesday. Truist Financial upped their price objective on Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Mizuho started coverage on Advance Auto Parts in a research report on Tuesday, March 19th. They set a “neutral” rating and a $78.00 price objective for the company. Finally, Royal Bank of Canada upped their price objective 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. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $70.18.

Advance Auto Parts Stock Up 4.3 %

Advance Auto Parts stock opened at $77.20 on Friday. Advance Auto Parts, Inc. has a twelve month low of $47.73 and a twelve month high of $129.90. The stock has a 50 day moving average of $74.26 and a two-hundred day moving average of $63.40. The company has a current ratio of 1.20, a quick ratio of 0.29 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 104.32, a PEG ratio of 1.34 and a beta of 1.17.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the business posted $2.88 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. As a group, research analysts expect that Advance Auto Parts, Inc. will post 3.94 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Thursday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is 135.14%.

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.