ExodusPoint Capital Management LP Sells 101,851 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

ExodusPoint Capital Management LP trimmed its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 83.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,472 shares of the company's stock after selling 101,851 shares during the period. ExodusPoint Capital Management LP's holdings in Advance Auto Parts were worth $968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its position in Advance Auto Parts by 75.9% during the fourth quarter. Blue Trust Inc. now owns 2,119 shares of the company's stock worth $100,000 after buying an additional 914 shares during the period. Moody National Bank Trust Division purchased a new position in Advance Auto Parts during the fourth quarter worth approximately $1,196,000. Raymond James Financial Inc. acquired a new position in shares of Advance Auto Parts in the 4th quarter valued at $8,822,000. Commonwealth Equity Services LLC grew its stake in shares of Advance Auto Parts by 97.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 305,622 shares of the company's stock valued at $14,453,000 after buying an additional 150,604 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Advance Auto Parts in the 4th quarter worth $34,586,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AAP has been the subject of several research analyst reports. Truist Financial dropped their price target on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Barclays dropped their price objective on shares of 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. Wedbush reaffirmed an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a research report on Monday, March 3rd. Wells Fargo & Company lifted their target price on Advance Auto Parts from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Finally, Evercore ISI cut their target price on Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating on the stock in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Advance Auto Parts presently has a consensus rating of "Hold" and an average price target of $45.13.

Insider Activity

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the acquisition, the chief executive officer now owns 183,121 shares of the company's stock, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the business's stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the acquisition, the director now 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. 0.67% of the stock is currently owned by corporate insiders.

Advance Auto Parts Stock Down 2.2 %

NYSE:AAP traded down $0.71 during trading hours on Wednesday, hitting $31.68. 206,268 shares of the company's stock traded hands, compared to its average volume of 2,212,538. The stock's fifty day moving average price is $38.55 and its two-hundred day moving average price is $41.21. The firm has a market cap of $1.90 billion, a P/E ratio of 43.30, a P/E/G ratio of 1.98 and a beta of 1.07. 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 twelve month low of $28.89 and a twelve month high of $79.41.

Advance Auto Parts Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 3.16%. Advance Auto Parts's dividend 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.