Eminence Capital LP Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Eminence Capital LP purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,844,229 shares of the company’s stock, valued at approximately $87,214,000.

A number of other institutional investors also recently modified their holdings of AAP. Blue Trust Inc. boosted its position in Advance Auto Parts by 75.9% during the 4th quarter. Blue Trust Inc. now owns 2,119 shares of the company’s stock worth $100,000 after acquiring an additional 914 shares during the last quarter. Annandale Capital LLC increased its stake in Advance Auto Parts by 46.6% in the 4th quarter. Annandale Capital LLC now owns 109,241 shares of the company’s stock valued at $5,166,000 after buying an additional 34,746 shares during the last quarter. Moody National Bank Trust Division bought a new stake in Advance Auto Parts during the 4th quarter worth about $1,196,000. Raymond James Financial Inc. acquired a new position in shares of Advance Auto Parts during the 4th quarter worth about $8,822,000. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Advance Auto Parts by 97.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 305,622 shares of the company’s stock valued at $14,453,000 after acquiring an additional 150,604 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors.

Advance Auto Parts Stock Performance

AAP opened at $31.47 on Wednesday. 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 business has a fifty day simple moving average of $34.88 and a 200 day simple moving average of $40.57. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $77.49. The company has a market capitalization of $1.88 billion, a PE ratio of 43.11, a price-to-earnings-growth ratio of 1.98 and a beta of 0.93.

Advance Auto Parts Announces Dividend

The firm 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. The ex-dividend date was Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 3.18%. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Insider Activity at Advance Auto Parts

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

Analyst Ratings Changes

Several analysts recently issued reports on AAP shares. Truist Financial dropped their target price on Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Citigroup decreased their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Barclays dropped 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 research report on Thursday, January 9th. Finally, 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 report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.13.

Advance Auto Parts 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.