KLP Kapitalforvaltning AS Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

KLP Kapitalforvaltning AS acquired a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 12,200 shares of the company’s stock, valued at approximately $577,000.

Several other hedge funds have also modified their holdings of the stock. Versant Capital Management Inc raised its stake in shares of Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after purchasing an additional 365 shares in the last quarter. Allworth Financial LP lifted its position in shares of Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after buying an additional 818 shares during the period. Vision Financial Markets LLC acquired a new position in Advance Auto Parts in the fourth quarter valued at about $42,000. GAMMA Investing LLC boosted its stake in Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Blue Trust Inc. lifted its position 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 worth $79,000 after purchasing an additional 469 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Performance

NYSE:AAP opened at $39.40 on Thursday. The company has a market capitalization of $2.36 billion, a PE ratio of 53.97, a P/E/G ratio of 1.98 and a beta of 1.27. 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 fifty-two week low of $33.08 and a fifty-two week high of $85.30. The company has a 50 day simple moving average of $42.05 and a two-hundred day simple moving average of $41.85.

Advance Auto Parts Announces Dividend

The firm 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Insiders Place Their Bets

In other news, CEO Shane M. Okelly acquired 1,500 shares of Advance Auto Parts stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, with a total value of $55,185.00. Following the completion of the acquisition, the chief executive officer now owns 183,121 shares in the company, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of Advance Auto Parts stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, with a total value of $499,956.00. Following the purchase, 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.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AAP shares. 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 for the company in a research note on Thursday, February 27th. Evercore ISI reduced their price target on Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Wells Fargo & Company boosted their target price on Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of Advance Auto Parts in a report on Monday, March 3rd. Finally, Truist Financial decreased 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. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.13.

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.