Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 54.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,998 shares of the company's stock after selling 12,889 shares during the period. Quantbot Technologies LP's holdings in Advance Auto Parts were worth $520,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in shares of Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company's stock worth $26,000 after purchasing an additional 365 shares in the last quarter. Allworth Financial LP increased its position in 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 buying an additional 818 shares during the period. Vision Financial Markets LLC purchased a new stake in Advance Auto Parts in the fourth quarter valued at approximately $42,000. GAMMA Investing LLC boosted its holdings in shares of Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company's stock valued at $74,000 after acquiring an additional 1,047 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Advance Auto Parts by 38.9% during the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock worth $79,000 after acquiring an additional 469 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company's stock.

Advance Auto Parts Price Performance

AAP traded down $0.40 on Tuesday, hitting $38.81. 2,000,151 shares of the company were exchanged, compared to its average volume of 2,160,694. Advance Auto Parts, Inc. has a fifty-two week low of $33.08 and a fifty-two week high of $85.58. 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 firm has a market capitalization of $2.32 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. The business's fifty day moving average is $42.20 and its 200 day moving average is $41.86.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts's payout ratio is currently -17.86%.

Insider Activity at Advance Auto Parts

In other news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now directly owns 34,070 shares in the company, valued at $1,163,490.50. This represents a 75.35 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, 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 acquired at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the transaction, the chief executive officer now directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. This represents a 0.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AAP. Evercore ISI decreased their price target on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. Citigroup lowered their price target on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada dropped their price target on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets decreased their price objective on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating for the company in a research report on Thursday, February 27th. Finally, Truist Financial dropped their target price on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Advance Auto Parts currently has an average rating of "Hold" and a consensus target price of $45.13.

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.