By otakuyassine3@gmail.com 
State of New Jersey Common Pension Fund D lifted its holdings in Advance Auto Parts, Inc. (NYSE:AAP – Free Report) by 35.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,524 shares of the company’s stock after buying an additional 14,134 shares during the period. State of New Jersey Common Pension Fund D owned about 0.09% of Advance Auto Parts worth $2,578,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc boosted its position in shares of Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after buying an additional 365 shares during the period. Allworth Financial LP raised its holdings in shares of Advance Auto Parts by 1,543.4% during the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after acquiring an additional 818 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after acquiring an additional 436 shares in the last quarter. KBC Group NV raised its holdings in shares of Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after acquiring an additional 394 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Advance Auto Parts by 198.3% during the fourth 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. Institutional investors and hedge funds own 88.75% of the company’s stock.
Insider Transactions at Advance Auto Parts
In related news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the sale, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on AAP shares. Evercore ISI increased their price objective on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. Wells Fargo & Company increased their price objective 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. The Goldman Sachs Group cut their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Truist Financial cut their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a report on Friday, November 15th. Finally, BMO Capital Markets assumed coverage on Advance Auto Parts in a report on Friday, December 13th. They set a “market perform” rating and a $45.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.93.
Check Out Our Latest Stock Report on AAP
Advance Auto Parts Trading Up 0.2 %
Advance Auto Parts stock opened at $44.42 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The business’s 50-day simple moving average is $46.22 and its 200-day simple moving average is $44.51. The firm has a market capitalization of $2.65 billion, a PE ratio of 60.85, a PEG ratio of 2.03 and a beta of 1.15. Advance Auto Parts, Inc. has a 52 week low of $35.59 and a 52 week high of $88.56.
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.
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