Connable Office Inc. Purchases Shares of 4,445 Advance Auto Parts, Inc. (NYSE:AAP)

Connable Office Inc. purchased a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,445 shares of the company’s stock, valued at approximately $210,000.

A number of other large investors have also added to or reduced their stakes in AAP. Versant Capital Management Inc increased its holdings in shares of Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after buying an additional 365 shares during the period. Allworth Financial LP boosted its position in 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 in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Advance Auto Parts by 198.3% during the fourth 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 last quarter. Blue Trust Inc. lifted its holdings in shares of Advance Auto Parts by 38.9% during 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 last quarter. Finally, KBC Group NV lifted its holdings in shares of Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after purchasing an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AAP shares. Truist Financial decreased their price objective on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a report on Thursday. 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 note on Monday, January 6th. The Goldman Sachs Group decreased their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. 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. Finally, Barclays decreased their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. One 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. According to MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and a consensus price target of $46.69.

Insiders Place Their Bets

In other news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $36.90 on Friday. 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 firm has a market capitalization of $2.20 billion, a P/E ratio of 50.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. The company’s 50-day moving average is $45.88 and its 200 day moving average is $43.74. Advance Auto Parts, Inc. has a 1-year low of $35.59 and a 1-year high of $88.56.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.71%. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

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.