River Road Asset Management LLC Has $13.61 Million Position in Advance Auto Parts, Inc. (NYSE:AAP)

River Road Asset Management LLC cut its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 57.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 287,843 shares of the company’s stock after selling 380,958 shares during the period. River Road Asset Management LLC owned 0.48% of Advance Auto Parts worth $13,612,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AAP. Versant Capital Management Inc increased its position in Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after buying an additional 365 shares during the period. Allworth Financial LP increased its position in Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after acquiring an additional 818 shares during the period. Vision Financial Markets LLC acquired a new position in Advance Auto Parts during the 4th quarter valued at $42,000. KBC Group NV boosted its holdings in Advance Auto Parts by 29.1% in the 3rd quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after purchasing an additional 394 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Advance Auto Parts by 198.3% in the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock valued at $74,000 after purchasing an additional 1,047 shares during the period. Institutional investors and hedge funds own 88.75% of the company’s stock.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. bought 14,640 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the purchase, the director now owns 34,070 shares in the company, valued at $1,163,490.50. This represents a 75.35 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock opened at $36.53 on Wednesday. Advance Auto Parts, Inc. has a 1-year low of $33.08 and a 1-year high of $88.56. The firm’s 50-day moving average price is $44.78 and its two-hundred day moving average price is $42.45. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 50.04, a P/E/G ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.74%. Advance Auto Parts’s dividend payout ratio is -17.86%.

Analyst Ratings Changes

AAP has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Barclays cut their price target on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. Evercore ISI decreased their price objective on Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating on the stock in a report on Tuesday. Truist Financial cut their target price on 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, Wells Fargo & Company raised their target price on Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. One equities 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.13.

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.