OLD National Bancorp IN Purchases New Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

OLD National Bancorp IN purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,641 shares of the company’s stock, valued at approximately $222,000.

Several other institutional investors have also made changes to their positions in the stock. CWA Asset Management Group LLC boosted its stake in shares of Advance Auto Parts by 4.1% in the third quarter. CWA Asset Management Group LLC now owns 4,911 shares of the company’s stock valued at $275,000 after buying an additional 195 shares during the period. Diversified Trust Co lifted its stake in Advance Auto Parts by 2.9% during the fourth quarter. Diversified Trust Co now owns 7,462 shares of the company’s stock worth $455,000 after purchasing an additional 213 shares during the last quarter. Allworth Financial LP lifted its stake in Advance Auto Parts by 190.0% during the fourth quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after purchasing an additional 266 shares during the last quarter. Signaturefd LLC lifted its stake in Advance Auto Parts by 20.0% during the third quarter. Signaturefd LLC now owns 1,677 shares of the company’s stock worth $94,000 after purchasing an additional 279 shares during the last quarter. Finally, CWM LLC lifted its stake in Advance Auto Parts by 24.2% during the third quarter. CWM LLC now owns 1,620 shares of the company’s stock worth $91,000 after purchasing an additional 316 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AAP shares. Mizuho started coverage on Advance Auto Parts in a research note on Tuesday, March 19th. They set a “neutral” rating and a $78.00 target price for the company. Evercore ISI cut their target price on Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. TheStreet upgraded Advance Auto Parts from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Finally, Truist Financial upped their price target on shares of Advance Auto Parts from $60.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and a consensus target price of $64.56.

Advance Auto Parts Stock Performance

NYSE AAP opened at $75.14 on Friday. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 101.54, a PEG ratio of 1.39 and a beta of 1.17. Advance Auto Parts, Inc. has a twelve month low of $47.73 and a twelve month high of $127.31. The stock has a fifty day simple moving average of $75.51 and a 200 day simple moving average of $64.23. The company has a quick ratio of 0.29, a current ratio of 1.20 and a debt-to-equity ratio of 0.71.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.47 billion. Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.88 earnings per share. Sell-side analysts expect that Advance Auto Parts, Inc. will post 3.94 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 135.14%.

Insider Buying and Selling at Advance Auto Parts

In other news, Director Brent Windom purchased 4,700 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were acquired at an average price of $85.34 per share, with a total value of $401,098.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $853,400. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Brent Windom acquired 4,700 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were bought at an average price of $85.34 per share, with a total value of $401,098.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $853,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the transaction, the executive vice president now directly owns 10,448 shares in the company, valued at approximately $899,363.84. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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.