Zuckerman Investment Group LLC Trims Stake in Advance Auto Parts, Inc. (NYSE:AAP)

Zuckerman Investment Group LLC lessened its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 32.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,441 shares of the company's stock after selling 88,807 shares during the quarter. Zuckerman Investment Group LLC owned approximately 0.31% of Advance Auto Parts worth $9,035,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company's stock valued at $26,000 after acquiring an additional 365 shares during the period. Allworth Financial LP raised its stake in Advance Auto Parts by 1,543.4% in the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock valued at $40,000 after buying an additional 818 shares during the period. Vision Financial Markets LLC acquired a new position in shares of Advance Auto Parts during the 4th quarter worth approximately $42,000. Advisory Services Network LLC acquired a new stake in Advance Auto Parts during the 4th quarter valued at $46,000. Finally, GAMMA Investing LLC boosted its position in Advance Auto Parts by 198.3% during the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company's stock worth $74,000 after purchasing an additional 1,047 shares during the period. 88.75% of the stock is owned by institutional investors.

Insider Activity at Advance Auto Parts

In related news, CEO Shane M. Okelly acquired 1,500 shares of the stock in a transaction on Tuesday, March 11th. The stock was purchased 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 owns 183,121 shares of the company's stock, valued at $6,737,021.59. This trade represents a 0.83 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of Advance Auto Parts stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the purchase, the director now directly owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AAP. Citigroup reduced their price target on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Evercore ISI cut their price objective on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a report on Tuesday, March 11th. Barclays dropped their price objective on Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, January 9th. Wells Fargo & Company boosted their price target on Advance Auto Parts from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Finally, BMO Capital Markets reduced their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $45.13.

Advance Auto Parts Stock Performance

AAP traded down $0.40 during trading on Tuesday, hitting $32.48. 632,958 shares of the company traded hands, compared to its average volume of 2,375,122. The stock's fifty day moving average is $38.88 and its 200 day moving average is $41.27. Advance Auto Parts, Inc. has a one year low of $28.89 and a one year high of $79.41. The firm has a market cap of $1.94 billion, a P/E ratio of 44.49, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Advance Auto Parts Announces Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.08%. Advance Auto Parts's payout ratio is -17.86%.

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.