HighTower Advisors LLC Invests $262,000 in Advance Auto Parts, Inc. (NYSE:AAP)

HighTower Advisors LLC bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,545 shares of the company’s stock, valued at approximately $262,000.

A number of other large investors have also recently modified their holdings of the business. Versant Capital Management Inc raised its position in Advance Auto Parts by 207.4% in the fourth 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. Allworth Financial LP lifted its position in shares of Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after acquiring an additional 818 shares during the period. Vision Financial Markets LLC bought a new stake in Advance Auto Parts in the 4th quarter valued at about $42,000. GAMMA Investing LLC grew its position in Advance Auto Parts by 198.3% in the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock valued at $74,000 after purchasing an additional 1,047 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Advance Auto Parts by 38.9% in the 4th quarter. Blue Trust Inc. now owns 1,674 shares of the company’s stock worth $79,000 after acquiring an additional 469 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AAP shares. Wells Fargo & Company increased their price target on 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. Truist Financial dropped 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 research report on Thursday, February 27th. Citigroup reduced their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. BMO Capital Markets decreased their price objective on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. Finally, Evercore ISI cut their target price on Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and an average price target of $45.13.

Insider Transactions at Advance Auto Parts

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

Advance Auto Parts Stock Up 1.0 %

Shares of NYSE:AAP opened at $39.40 on Thursday. The firm has a fifty day moving average price of $42.05 and a two-hundred day moving average price of $41.85. Advance Auto Parts, Inc. has a one year low of $33.08 and a one year high of $85.30. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 53.97, a PEG ratio of 1.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts Announces Dividend

The business also recently disclosed 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 2.54%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is currently -17.86%.

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.