Oppenheimer Asset Management Inc. Sells 1,882 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Oppenheimer Asset Management Inc. reduced its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 22.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,430 shares of the company’s stock after selling 1,882 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Advance Auto Parts were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Advance Auto Parts in the third quarter valued at about $14,684,000. Wolverine Asset Management LLC lifted its holdings in Advance Auto Parts by 212.4% in the third quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock valued at $1,223,000 after acquiring an additional 21,320 shares during the period. Blue Trust Inc. lifted its holdings in Advance Auto Parts by 75.9% in the fourth quarter. Blue Trust Inc. now owns 2,119 shares of the company’s stock valued at $100,000 after acquiring an additional 914 shares during the period. Quest Partners LLC bought a new position in Advance Auto Parts in the third quarter valued at about $579,000. Finally, Moody National Bank Trust Division bought a new position in Advance Auto Parts in the fourth quarter valued at about $1,196,000. Institutional investors own 88.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AAP. Royal Bank of Canada lowered their target price on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company increased 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. Truist Financial reduced their price target 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. Barclays reduced their price target on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Finally, UBS Group upped their price target on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and a consensus target price of $46.69.

Advance Auto Parts Stock Performance

NYSE:AAP opened at $33.81 on Friday. 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, Inc. has a 12-month low of $33.52 and a 12-month high of $88.56. The stock has a 50-day moving average price of $45.35 and a 200 day moving average price of $43.06. The stock has a market capitalization of $2.02 billion, a P/E ratio of 46.32, a P/E/G ratio of 1.98 and a beta of 1.15.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 2.96%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s payout ratio is presently -17.86%.

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.