PNC Financial Services Group Inc. Has $302,000 Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

PNC Financial Services Group Inc. lessened its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,386 shares of the company’s stock after selling 332 shares during the period. PNC Financial Services Group Inc.’s holdings in Advance Auto Parts were worth $302,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. CIBC Asset Management Inc lifted its holdings in shares of Advance Auto Parts by 3.9% during the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock worth $277,000 after purchasing an additional 221 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Advance Auto Parts by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock worth $1,242,000 after purchasing an additional 281 shares during the period. Ingalls & Snyder LLC lifted its holdings in shares of Advance Auto Parts by 5.0% during the fourth quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company’s stock worth $316,000 after purchasing an additional 317 shares during the period. Versant Capital Management Inc lifted its holdings 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 purchasing an additional 365 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after purchasing an additional 394 shares during the period. Institutional investors and hedge funds own 88.75% of the company’s stock.

Insider Transactions at Advance Auto Parts

In other news, CEO Shane M. Okelly acquired 1,500 shares of Advance Auto Parts stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, with a total value of $55,185.00. Following the transaction, the chief executive officer now owns 183,121 shares of the company’s stock, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of Advance Auto Parts stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $34.15 per share, with a total value 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.

Advance Auto Parts Trading Down 0.6 %

NYSE:AAP opened at $37.43 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The firm has a 50-day moving average of $43.12 and a 200-day moving average of $41.92. The company has a market cap of $2.24 billion, a PE ratio of 51.27, a PEG ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a one year low of $33.08 and a one year high of $87.36.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s payout ratio is presently -17.86%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AAP shares. Truist Financial cut their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company boosted their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Citigroup dropped their target price 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, February 27th. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a report on Monday, March 3rd. Finally, Barclays dropped their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.