AQR Capital Management LLC Increases Stake in Advance Auto Parts, Inc. (NYSE:AAP)

AQR Capital Management LLC grew its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 469,809 shares of the company’s stock after buying an additional 47,441 shares during the quarter. AQR Capital Management LLC owned 0.79% of Advance Auto Parts worth $22,189,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAP. Versant Capital Management Inc boosted its holdings 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 acquiring an additional 365 shares during the period. Allworth Financial LP boosted its stake in shares of Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after purchasing an additional 818 shares during the period. Vision Financial Markets LLC bought a new position in shares of Advance Auto Parts in the fourth quarter worth approximately $42,000. Advisory Services Network LLC purchased a new position in shares of Advance Auto Parts in the fourth quarter worth $46,000. Finally, GAMMA Investing LLC raised its holdings in Advance Auto Parts by 198.3% during the 4th 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 last quarter. 88.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AAP shares. Royal Bank of Canada decreased their price objective on shares of 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. Citigroup lowered their price target on 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. Wells Fargo & Company lifted their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Barclays cut their price target 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. Finally, Truist Financial dropped their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. One investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.13.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly bought 1,500 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price 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 in the company, valued at $6,737,021.59. This represents a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the 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 purchase, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Advance Auto Parts Stock Up 1.2 %

Shares of NYSE:AAP opened at $33.37 on Friday. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $77.49. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 45.71, a PEG ratio of 1.98 and a beta of 1.07. The stock has a fifty day simple moving average of $35.10 and a two-hundred day simple moving average of $40.68. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Friday, April 11th. Advance Auto Parts’s payout ratio is -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.