Estuary Capital Management LP Raises Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Estuary Capital Management LP grew its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 955,117 shares of the company’s stock after purchasing an additional 168,149 shares during the quarter. Advance Auto Parts makes up 13.2% of Estuary Capital Management LP’s portfolio, making the stock its 3rd largest holding. Estuary Capital Management LP owned about 1.60% of Advance Auto Parts worth $45,167,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eminence Capital LP acquired a new stake in Advance Auto Parts in the fourth quarter worth about $87,214,000. Bridgeway Capital Management LLC acquired a new position in shares of Advance Auto Parts during the fourth quarter valued at approximately $17,127,000. Captrust Financial Advisors bought a new stake in Advance Auto Parts during the fourth quarter worth approximately $307,000. Baird Financial Group Inc. lifted its position in Advance Auto Parts by 1.8% in the fourth quarter. Baird Financial Group Inc. now owns 50,307 shares of the company’s stock worth $2,379,000 after purchasing an additional 880 shares during the period. Finally, Bastion Asset Management Inc. acquired a new position in shares of Advance Auto Parts during the 4th quarter valued at $3,559,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets dropped their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada reduced their price objective on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Truist Financial reduced their price objective on 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. Evercore ISI reduced their price objective on shares of Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. Finally, Citigroup decreased 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 report on Thursday, February 27th. One 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. According to data from MarketBeat.com, Advance Auto Parts presently has an average rating of “Hold” and a consensus price target of $45.13.

Insider Buying and Selling at Advance Auto Parts

In related news, Director Eugene I. Lee, Jr. purchased 14,640 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Shane M. Okelly acquired 1,500 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought 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 directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. This represents a 0.83 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

Advance Auto Parts Stock Down 0.0 %

NYSE AAP opened at $31.35 on Friday. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $77.49. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average is $34.69 and its two-hundred day moving average is $40.44. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 42.94, a PEG ratio of 1.98 and a beta of 0.93.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 3.19%. Advance Auto Parts’s dividend payout ratio is currently -17.86%.

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.