Connor Clark & Lunn Investment Management Ltd. Has $28.28 Million Position in Advance Auto Parts, Inc. (NYSE:AAP)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 58.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 598,058 shares of the company’s stock after purchasing an additional 221,445 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.00% of Advance Auto Parts worth $28,282,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AAP. CIBC Asset Management Inc raised its position in shares of Advance Auto Parts by 3.9% in the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock valued at $277,000 after purchasing an additional 221 shares during the period. Yousif Capital Management LLC grew its stake in Advance Auto Parts by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock valued at $1,242,000 after buying an additional 281 shares during the last quarter. Ingalls & Snyder LLC raised its holdings in Advance Auto Parts by 5.0% in the 4th quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company’s stock valued at $316,000 after acquiring an additional 317 shares during the period. Versant Capital Management Inc lifted its position in Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after acquiring an additional 365 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after acquiring an additional 394 shares during the period. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $37.67 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts, Inc. has a 52-week low of $33.08 and a 52-week high of $88.56. The stock’s 50 day moving average price is $44.56 and its two-hundred day moving average price is $42.36. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 51.60, a PEG ratio of 1.98 and a beta of 1.27.

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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. Advance Auto Parts’s dividend payout ratio is currently -17.86%.

Insider Transactions at Advance Auto Parts

In other news, CEO Shane M. Okelly bought 1,500 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $36.79 per share, with a total value of $55,185.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the acquisition, the director now owns 34,070 shares in the company, valued at $1,163,490.50. This represents a 75.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AAP. Wells Fargo & Company increased their target price on 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. The Goldman Sachs Group lowered their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Truist Financial reduced their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research report on Monday, March 3rd. Finally, Citigroup cut their price objective 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. 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.