Truist Financial Corp Has $755,000 Position in Advance Auto Parts, Inc. (NYSE:AAP)

Truist Financial Corp increased its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 30.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,961 shares of the company’s stock after purchasing an additional 3,722 shares during the quarter. Truist Financial Corp’s holdings in Advance Auto Parts were worth $755,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of 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 buying an additional 365 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after acquiring an additional 818 shares in the last quarter. KBC Group NV grew its position in Advance Auto Parts by 29.1% during the 3rd 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 last quarter. GAMMA Investing LLC increased 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 worth $74,000 after purchasing an additional 1,047 shares in the last quarter. Finally, AM Squared Ltd raised its position in Advance Auto Parts by 100.0% in the third quarter. AM Squared Ltd now owns 2,000 shares of the company’s stock valued at $78,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 88.75% of the company’s stock.

Analyst Upgrades and Downgrades

AAP has been the topic of several research reports. Wells Fargo & Company boosted their price target on Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. UBS Group boosted their target price on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Evercore ISI raised their price target on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Citigroup cut their price target on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, DA Davidson restated a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.69.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $36.90 on Monday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 50.55, a PEG ratio of 1.98 and a beta of 1.15. Advance Auto Parts, Inc. has a 52-week low of $35.59 and a 52-week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock’s 50 day moving average price is $45.88 and its two-hundred day moving average price is $43.62.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s payout ratio is -17.86%.

Insider Buying and Selling at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares in the company, valued at $1,069,159.96. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

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.