Norges Bank Takes Position in Advance Auto Parts, Inc. (NYSE:AAP)

Norges Bank bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 229,792 shares of the company’s stock, valued at approximately $10,867,000. Norges Bank owned approximately 0.38% of Advance Auto Parts as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc raised its stake 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 in the last quarter. Allworth Financial LP raised its position in shares of Advance Auto Parts by 1,543.4% in the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after purchasing an additional 818 shares during the period. Vision Financial Markets LLC bought a new position in shares of Advance Auto Parts in the fourth quarter worth $42,000. GAMMA Investing LLC grew its holdings in Advance Auto Parts by 198.3% during the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock valued at $74,000 after buying an additional 1,047 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Advance Auto Parts by 38.9% during the 4th quarter. Blue Trust Inc. now owns 1,674 shares of the company’s stock valued at $79,000 after purchasing an additional 469 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Down 6.3 %

NYSE:AAP opened at $30.39 on Wednesday. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 41.63, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. Advance Auto Parts, Inc. has a twelve month low of $30.17 and a twelve month high of $79.85. 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 fifty day simple moving average of $40.49 and a 200-day simple moving average of $41.54.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 3.29%. Advance Auto Parts’s dividend payout ratio (DPR) is -17.86%.

Insiders Place Their Bets

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $36.79 per share, with a total value of $55,185.00. Following the completion of the purchase, the chief executive officer now directly owns 183,121 shares in the company, valued at $6,737,021.59. The trade was a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, 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 on Thursday, March 6th. The shares were acquired at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the transaction, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

AAP has been the subject of a number of recent research reports. BMO Capital Markets dropped their target price on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. Evercore ISI dropped their price target on Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Citigroup dropped their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Barclays cut their target price on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Finally, Wells Fargo & Company increased their target price on Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus 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.