Corient Private Wealth LLC Invests $347,000 in Advance Auto Parts, Inc. (NYSE:AAP)

Corient Private Wealth LLC bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 7,343 shares of the company’s stock, valued at approximately $347,000.

Other hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in shares of Advance Auto Parts by 3.9% in the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock worth $277,000 after buying an additional 221 shares during the last quarter. Yousif Capital Management LLC raised its stake in Advance Auto Parts by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock worth $1,242,000 after acquiring an additional 281 shares during the last quarter. Ingalls & Snyder LLC lifted its position in Advance Auto Parts by 5.0% during the 4th quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company’s stock worth $316,000 after acquiring an additional 317 shares during the period. Versant Capital Management Inc grew its stake in Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after purchasing an additional 365 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Advance Auto Parts by 38.9% in the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company’s stock valued at $79,000 after purchasing an additional 469 shares during the period. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Stock Down 3.6 %

Shares of AAP opened at $38.92 on Monday. The firm has a market cap of $2.33 billion, a P/E ratio of 53.32, a PEG ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a 12 month low of $33.08 and a 12 month high of $86.47. The stock’s 50 day moving average is $42.48 and its two-hundred day moving average is $41.88. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

Advance Auto Parts Announces Dividend

The business also recently declared 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. This represents a $1.00 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s payout ratio is presently -17.86%.

Wall Street Analysts Forecast Growth

AAP has been the topic of a number of recent research reports. Citigroup dropped their target price on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Truist Financial dropped their price objective 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. BMO Capital Markets reduced their target price on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company 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 research report on Monday, January 6th. Finally, Royal Bank of Canada cut 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. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.13.

Insider Buying and Selling

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

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.