BlackRock Amends AAP Stake to 16.3% as of Dec 31, 2023
Ticker: AAP · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 1158449
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns a huge chunk of Advance Auto Parts, 16.3% as of year-end!**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, indicating a change in its ownership stake in Advance Auto Parts Inc. As of December 31, 2023, BlackRock reported beneficial ownership of 10,049,500 shares of Advance Auto Parts common stock, representing 16.3% of the company. This is an amendment to their previous filing, showing a slight adjustment in their holdings. This matters to investors because BlackRock is a major institutional investor, and changes in their significant stake can signal their evolving confidence in Advance Auto Parts' future performance.
Why It Matters
Large institutional ownership changes can influence stock perception and liquidity, as BlackRock's substantial stake means their investment decisions carry weight.
Risk Assessment
Risk Level: low — This filing indicates a routine update from a large institutional investor and does not suggest immediate, significant risk to the company.
Analyst Insight
Investors should note BlackRock's continued significant stake, but understand this is a routine update. Monitor future filings for substantial changes in ownership that could signal a shift in institutional sentiment towards Advance Auto Parts.
Key Numbers
- 10,049,500 — Shares Beneficially Owned (This is the total number of Advance Auto Parts shares BlackRock Inc. reported owning as of December 31, 2023.)
- 16.3% — Percentage of Class (This represents BlackRock Inc.'s significant ownership stake in Advance Auto Parts Inc., indicating a major institutional holder.)
- December 31, 2023 — Reporting Date (This is the specific date for which the ownership data is being reported, providing a clear snapshot of BlackRock's holdings.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Advance Auto Parts Inc. (company) — the subject company whose shares are being reported
- 10,049,500 (dollar_amount) — number of shares beneficially owned by BlackRock
- 16.3% (dollar_amount) — percentage of Advance Auto Parts' common stock owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
- January 23, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- BlackRock will maintain a significant, but potentially fluctuating, stake in Advance Auto Parts Inc. throughout 2024. (BlackRock Inc.) — high confidence, target: December 31, 2024
FAQ
What is the purpose of this specific SC 13G/A filing by BlackRock Inc. regarding Advance Auto Parts Inc.?
This SC 13G/A filing is an amendment (Amendment No: 15) to a previous Schedule 13G, indicating an update to BlackRock Inc.'s beneficial ownership of Advance Auto Parts Inc. common stock as of December 31, 2023.
How many shares of Advance Auto Parts Inc. common stock does BlackRock Inc. beneficially own according to this filing?
As of December 31, 2023, BlackRock Inc. beneficially owns 10,049,500 shares of Advance Auto Parts Inc. common stock.
What percentage of Advance Auto Parts Inc.'s common stock does BlackRock Inc.'s ownership represent?
BlackRock Inc.'s beneficial ownership of 10,049,500 shares represents 16.3% of Advance Auto Parts Inc.'s common stock.
When was the 'Date of Event Which Requires Filing of this Statement' for this SC 13G/A?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as stated in the filing.
Under which rule of the Securities Exchange Act of 1934 was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding ADVANCE AUTO PARTS INC (AAP).