Advance Auto Parts, Inc. (NYSE:AAP) Stake Increased by AMG National Trust Bank

AMG National Trust Bank raised its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,575 shares of the company’s stock after acquiring an additional 1,049 shares during the quarter. AMG National Trust Bank owned approximately 0.05% of Advance Auto Parts worth $1,454,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its stake in shares of 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 purchasing an additional 365 shares in the last quarter. Allworth Financial LP raised its stake in 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 buying an additional 818 shares in the last quarter. Vision Financial Markets LLC bought a new position in Advance Auto Parts during the 4th quarter worth approximately $42,000. GAMMA Investing LLC grew its position in shares of Advance Auto Parts by 198.3% in the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Advance Auto Parts by 38.9% in the 4th quarter. Blue Trust Inc. now owns 1,674 shares of the company’s stock valued at $79,000 after acquiring an additional 469 shares during the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Trading Up 5.4 %

Shares of NYSE:AAP opened at $35.45 on Friday. The company has a 50 day moving average of $45.14 and a 200-day moving average of $42.99. 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 firm has a market cap of $2.12 billion, a P/E ratio of 48.56, a P/E/G ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a twelve month low of $33.08 and a twelve month high of $88.56.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s payout ratio is currently -17.86%.

Analysts Set New Price Targets

Several analysts have weighed in on AAP shares. Wedbush reiterated an “outperform” rating and set a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. DA Davidson reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. Truist Financial cut their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company upped their target price on Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group dropped their price target on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. 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 data from MarketBeat.com, Advance Auto Parts presently has an average rating of “Hold” and a consensus price target of $46.69.

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.