Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by AlphaQuest LLC

AlphaQuest LLC decreased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 96.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 571 shares of the company's stock after selling 14,268 shares during the quarter. AlphaQuest LLC's holdings in Advance Auto Parts were worth $27,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in Advance Auto Parts by 3.9% during the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company's stock worth $277,000 after purchasing an additional 221 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Advance Auto Parts by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company's stock worth $1,242,000 after buying an additional 281 shares during the last quarter. Ingalls & Snyder LLC raised its position in shares of Advance Auto Parts by 5.0% in the 4th quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company's stock worth $316,000 after buying an additional 317 shares during the period. Versant Capital Management Inc boosted its holdings in Advance Auto Parts by 207.4% in the fourth 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 last quarter. Finally, KBC Group NV grew its position in Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company's stock valued at $68,000 after acquiring an additional 394 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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Advance Auto Parts Stock Down 2.5 %

Shares of AAP stock traded down $0.97 during mid-day trading on Tuesday, reaching $37.62. 1,291,405 shares of the company were exchanged, compared to its average volume of 2,109,049. The company has a market capitalization of $2.25 billion, a P/E ratio of 51.53, a P/E/G ratio of 1.98 and a beta of 1.27. The business's 50 day simple moving average is $43.00 and its 200 day simple moving average is $41.89. 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 fifty-two week low of $33.08 and a fifty-two week high of $87.36.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts's payout ratio is currently -17.86%.

Insider Activity

In other news, Director Eugene I. Lee, Jr. acquired 14,640 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $34.15 per share, with a total value of $499,956.00. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Shane M. Okelly bought 1,500 shares of Advance Auto Parts stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the acquisition, the chief executive officer now owns 183,121 shares in the company, valued at $6,737,021.59. The trade was a 0.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company's stock.

Analyst Ratings Changes

AAP has been the topic of a number of research reports. BMO Capital Markets cut their price objective on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. Truist Financial cut their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company boosted their price objective on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Wedbush reissued an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. Finally, Barclays lowered their price target 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. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.