Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) CEO Shane M. Okelly bought 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, with a total value of $55,185.00. Following the acquisition, the chief executive officer now owns 183,121 shares in the company, valued at approximately $6,737,021.59. This represents a 0.83 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Advance Auto Parts Stock Up 3.1 %
AAP stock opened at $37.67 on Thursday. The business's 50 day simple moving average is $44.56 and its 200 day simple moving average is $42.36. Advance Auto Parts, Inc. has a 1-year low of $33.08 and a 1-year high of $88.56. The firm has a market capitalization of $2.25 billion, a PE ratio of 51.60, a PEG ratio of 1.98 and a beta of 1.27. 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 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts's payout ratio is presently -17.86%.
Analyst Upgrades and Downgrades
AAP has been the subject of a number of research reports. BMO Capital Markets decreased their price objective on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating for the company in a report on Thursday, February 27th. Citigroup decreased their price target 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. Wedbush reissued an "outperform" rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research report on Monday, March 3rd. DA Davidson restated a "neutral" rating and set a $45.00 target price on shares of Advance Auto Parts in a report on Friday, November 15th. Finally, Truist Financial lowered 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 note 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $45.13.
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Institutional Trading of Advance Auto Parts
Several hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc lifted its position in Advance Auto Parts by 3.9% during the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company's stock worth $277,000 after acquiring an additional 221 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of Advance Auto Parts by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 26,258 shares of the company's stock worth $1,242,000 after purchasing an additional 281 shares during the period. Ingalls & Snyder LLC lifted its holdings in Advance Auto Parts by 5.0% during the 4th quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company's stock worth $316,000 after purchasing an additional 317 shares during the last quarter. Studio Investment Management LLC boosted its stake in Advance Auto Parts by 6.7% in the 4th quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock valued at $263,000 after purchasing an additional 350 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company's stock valued at $26,000 after buying an additional 365 shares in the last quarter. Institutional investors own 88.75% of the company's stock.
Advance Auto Parts Company Profile
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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.
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