KBC Group NV Raises Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

KBC Group NV lifted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 51.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,651 shares of the company’s stock after buying an additional 902 shares during the quarter. KBC Group NV’s holdings in Advance Auto Parts were worth $125,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pzena Investment Management LLC grew its stake in Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after acquiring an additional 1,698,155 shares during the period. International Assets Investment Management LLC purchased a new position in Advance Auto Parts in the third quarter valued at approximately $17,477,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Advance Auto Parts during the 3rd quarter worth $14,684,000. Royce & Associates LP raised its holdings 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 valued at $41,937,000 after buying an additional 258,656 shares during the period. Finally, Maple Rock Capital Partners Inc. acquired a new position in shares of Advance Auto Parts during the third quarter worth $9,046,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Insider Transactions at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the sale, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. 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 report on Wednesday, November 20th. Truist Financial lowered their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Friday, November 15th. 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 research note on Monday, January 6th. Roth Mkm restated a “neutral” rating and issued a $40.00 price target on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group decreased their price target 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. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.93.

Advance Auto Parts Stock Performance

AAP stock opened at $45.99 on Friday. Advance Auto Parts, Inc. has a 1 year low of $35.59 and a 1 year high of $88.56. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 63.00, a PEG ratio of 2.22 and a beta of 1.15. 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 fifty day moving average is $45.82 and its two-hundred day moving average is $45.53.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm posted ($0.82) EPS. The company’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

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.