International Assets Investment Management LLC Makes New $3.36 Million Investment in Advance Auto Parts, Inc. (NYSE:AAP)

International Assets Investment Management LLC acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 55,110 shares of the company’s stock, valued at approximately $3,363,000.

Other hedge funds have also modified their holdings of the company. Oak Thistle LLC raised its position in Advance Auto Parts by 185.1% in the 4th quarter. Oak Thistle LLC now owns 23,657 shares of the company’s stock valued at $1,444,000 after purchasing an additional 15,360 shares in the last quarter. Fifth Third Bancorp lifted its stake in Advance Auto Parts by 166.6% in the fourth quarter. Fifth Third Bancorp now owns 5,105 shares of the company’s stock worth $312,000 after acquiring an additional 3,190 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Advance Auto Parts during the 4th quarter worth approximately $5,906,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Advance Auto Parts by 12.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 37,481 shares of the company’s stock valued at $2,287,000 after purchasing an additional 4,157 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its holdings in shares of Advance Auto Parts by 1,433.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 4,600 shares of the company’s stock valued at $281,000 after purchasing an additional 4,300 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Truist Financial boosted their target price on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. increased their price objective on Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Evercore ISI cut their target price on Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating on the stock in a research report on Tuesday. TheStreet raised Advance Auto Parts from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Finally, Royal Bank of Canada raised their price objective on shares of Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Advance Auto Parts presently has a consensus rating of “Hold” and an average price target of $70.18.

Insider Buying and Selling

In other Advance Auto Parts news, Director Brent Windom bought 4,700 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were bought at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $853,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Advance Auto Parts news, Director Brent Windom purchased 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were purchased at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $853,400. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carla Jean Bailo acquired 310 shares of the business’s stock in a transaction on Monday, March 18th. The stock was acquired at an average price of $81.19 per share, with a total value of $25,168.90. Following the transaction, the director now directly owns 5,789 shares of the company’s stock, valued at approximately $470,008.91. The disclosure for this purchase can be found here. 0.63% of the stock is currently owned by corporate insiders.

Advance Auto Parts Stock Up 3.4 %

Advance Auto Parts stock opened at $74.05 on Thursday. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 100.07, a PEG ratio of 1.27 and a beta of 1.17. 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 50 day moving average of $74.00 and a two-hundred day moving average of $63.30. Advance Auto Parts, Inc. has a twelve month low of $47.73 and a twelve month high of $129.90.

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). The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $2.88 earnings per share. 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 company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.00 annualized dividend and a yield of 1.35%. Advance Auto Parts’s dividend payout ratio is currently 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.