Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,020 shares of the company's stock after selling 33,225 shares during the quarter. Russell Investments Group Ltd. owned about 0.25% of Advance Auto Parts worth $6,952,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Annandale Capital LLC boosted its position in Advance Auto Parts by 46.6% in the 4th quarter. Annandale Capital LLC now owns 109,241 shares of the company's stock valued at $5,166,000 after buying an additional 34,746 shares during the period. Savoir Faire Capital Management L.P. purchased a new stake in Advance Auto Parts during the 4th quarter worth about $5,769,000. Landscape Capital Management L.L.C. grew its position in shares of Advance Auto Parts by 142.1% during the fourth quarter. Landscape Capital Management L.L.C. now owns 134,700 shares of the company's stock worth $6,370,000 after buying an additional 79,070 shares in the last quarter. Geode Capital Management LLC raised its holdings in Advance Auto Parts by 13.0% in the fourth quarter. Geode Capital Management LLC now owns 938,231 shares of the company's stock valued at $44,384,000 after acquiring an additional 108,226 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in shares of Advance Auto Parts during the 4th quarter worth $960,000. Hedge funds and other institutional investors own 88.75% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on AAP. Evercore ISI cut their price target on Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 11th. Wells Fargo & Company lifted their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Barclays lowered their price target on Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, January 9th. Truist Financial decreased their price objective on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Finally, Wedbush reiterated an "outperform" rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued 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.

Advance Auto Parts Price Performance

Advance Auto Parts stock traded up $0.91 during mid-day trading on Friday, hitting $31.79. 1,617,625 shares of the company were exchanged, compared to its average volume of 2,220,315. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $79.41. The business's 50 day simple moving average is $38.25 and its two-hundred day simple moving average is $41.14. The company has a market capitalization of $1.90 billion, a P/E ratio of 43.55, a PEG ratio of 1.98 and a beta of 1.07.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.15%. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.86%.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $36.79 per share, with a total value 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 trade represents a 0.83 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $34.15 per share, with a total value of $499,956.00. Following the purchase, the director now owns 34,070 shares in the company, valued at approximately $1,163,490.50. The trade was a 75.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.67% 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.