Insider Buying: Advance Auto Parts, Inc. (NYSE:AAP) CEO Acquires 1,500 Shares of Stock

Advance Auto Parts, Inc. (NYSE:AAP) CEO Shane M. Okelly bought 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, with a total value of $55,185.00. Following the completion of the acquisition, the chief executive officer now owns 183,121 shares of the company’s stock, valued at $6,737,021.59. This represents a 0.83 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Advance Auto Parts Stock Down 1.3 %

NYSE:AAP opened at $37.63 on Friday. Advance Auto Parts, Inc. has a twelve month low of $33.08 and a twelve month high of $88.56. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 51.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. The stock has a fifty day simple moving average of $44.17 and a 200-day simple moving average of $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 company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.66%. Advance Auto Parts’s payout ratio is currently -17.86%.

Analyst Ratings Changes

A number of research analysts recently weighed in on AAP shares. DA Davidson reissued a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Wedbush reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research note on Monday, March 3rd. Barclays dropped their price objective on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Truist Financial dropped their price objective on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Finally, Evercore ISI dropped their price objective on shares of Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.13.

Institutional Trading of Advance Auto Parts

Several institutional investors and hedge funds have recently made changes to their positions in AAP. Eminence Capital LP bought a new stake in shares of Advance Auto Parts in the fourth quarter valued at about $87,214,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Advance Auto Parts by 34.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company’s stock valued at $316,160,000 after acquiring an additional 1,706,328 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of Advance Auto Parts by 140.3% in the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after acquiring an additional 1,698,155 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of Advance Auto Parts in the fourth quarter valued at about $75,055,000. Finally, Marshall Wace LLP raised its holdings in shares of Advance Auto Parts by 2,585.1% in the fourth quarter. Marshall Wace LLP now owns 1,353,912 shares of the company’s stock valued at $64,026,000 after acquiring an additional 1,303,488 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors.

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.