Victory Capital Management Inc. Sells 1,230 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Victory Capital Management Inc. cut its position in Advance Auto Parts, Inc. (NYSE:AAP) by 2.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 54,786 shares of the company’s stock after selling 1,230 shares during the period. Victory Capital Management Inc.’s holdings in Advance Auto Parts were worth $2,591,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Advance Auto Parts by 18.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,919 shares of the company’s stock valued at $30,735,000 after purchasing an additional 100,445 shares during the last quarter. Connable Office Inc. bought a new position in shares of Advance Auto Parts during the fourth quarter worth about $210,000. US Bancorp DE raised its position in shares of Advance Auto Parts by 1,813.9% during the fourth quarter. US Bancorp DE now owns 25,340 shares of the company’s stock worth $1,198,000 after acquiring an additional 24,016 shares during the last quarter. Sims Investment Management LLC bought a new position in shares of Advance Auto Parts during the fourth quarter worth about $309,000. Finally, Allianz Asset Management GmbH raised its position in shares of Advance Auto Parts by 244.7% during the fourth quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company’s stock worth $35,006,000 after acquiring an additional 525,504 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Shane M. Okelly bought 1,500 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the acquisition, the chief executive officer now directly owns 183,121 shares of the company’s stock, valued at $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the acquisition, the director now directly owns 34,070 shares of the company’s stock, 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. Corporate insiders own 0.35% of the company’s stock.

Advance Auto Parts Trading Down 1.3 %

Shares of Advance Auto Parts stock opened at $37.63 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts, Inc. has a 52 week low of $33.08 and a 52 week high of $88.56. The stock has a 50 day moving average price of $44.00 and a two-hundred day moving average price of $42.15. The stock has a market capitalization of $2.25 billion, a PE ratio of 51.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.66%. Advance Auto Parts’s dividend payout ratio is presently -17.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Truist Financial lowered 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. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. Royal Bank of Canada decreased their target price 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. Evercore ISI decreased their target price on 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, Barclays decreased their target price on 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 given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Advance Auto Parts presently has a consensus 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.