Johnson Investment Counsel Inc. Acquires New Position in Advance Auto Parts, Inc. (NYSE:AAP)

Johnson Investment Counsel Inc. bought a new position in Advance Auto Parts, Inc. (NYSE:AAP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,245 shares of the company’s stock, valued at approximately $484,000.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of Advance Auto Parts by 207.4% during 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 last quarter. Allworth Financial LP increased its stake 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 last quarter. Vision Financial Markets LLC purchased a new stake in shares of Advance Auto Parts during the 4th quarter worth about $42,000. KBC Group NV increased 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 purchasing an additional 394 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Advance Auto Parts by 198.3% in the fourth 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 during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Advance Auto Parts

In related news, CEO Shane M. Okelly bought 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the transaction, the chief executive officer now directly owns 183,121 shares of the company’s stock, valued at approximately $6,737,021.59. This represents a 0.83 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now directly owns 34,070 shares in the company, valued at $1,163,490.50. This represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AAP has been the topic of several recent research reports. DA Davidson restated a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. The Goldman Sachs Group lowered their target price on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada reduced their price target on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. UBS Group increased their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, Evercore ISI dropped their price objective on shares of Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating on the stock in a research note on Tuesday. One research 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’s stock. Based on data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and a consensus price target of $45.13.

Advance Auto Parts Stock Up 1.2 %

Shares of NYSE:AAP opened at $38.04 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. Advance Auto Parts, Inc. has a 1-year low of $33.08 and a 1-year high of $88.56. The company’s fifty day moving average is $44.37 and its two-hundred day moving average is $42.33. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 52.11, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.63%. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Advance Auto Parts 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.