6,538 Shares in Advance Auto Parts, Inc. (NYSE:AAP) Acquired by Sims Investment Management LLC

Sims Investment Management LLC purchased a new position in Advance Auto Parts, Inc. (NYSE:AAP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,538 shares of the company’s stock, valued at approximately $309,000.

Several other institutional investors have also modified their holdings of AAP. Pzena Investment Management LLC lifted its position in shares of Advance Auto Parts by 140.3% during the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after buying an additional 1,698,155 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Advance Auto Parts by 244.7% during the 4th quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company’s stock worth $35,006,000 after buying an additional 525,504 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Advance Auto Parts during the 3rd quarter worth approximately $14,684,000. Royce & Associates LP lifted its position in shares of Advance Auto Parts by 31.7% during the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock worth $41,937,000 after buying an additional 258,656 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. purchased a new stake in shares of Advance Auto Parts during the 3rd quarter worth approximately $9,046,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Performance

Shares of AAP opened at $36.90 on Friday. 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 has a market capitalization of $2.20 billion, a P/E ratio of 50.55, a P/E/G ratio of 1.98 and a beta of 1.15. The company’s fifty day moving average is $46.01 and its two-hundred day moving average is $43.88. Advance Auto Parts, Inc. has a 1 year low of $35.59 and a 1 year high of $88.56.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.71%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

Insider Transactions at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AAP shares. Wells Fargo & Company boosted their price objective on shares of 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. DA Davidson restated a “neutral” rating and set a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Barclays reduced their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. BMO Capital Markets reduced their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Truist Financial reduced their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.69.

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.