AXQ Capital LP Sells 84,756 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

AXQ Capital LP lessened its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 89.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,069 shares of the company's stock after selling 84,756 shares during the quarter. AXQ Capital LP's holdings in Advance Auto Parts were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of AAP. Versant Capital Management Inc boosted its stake 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 purchasing an additional 365 shares during the last quarter. Allworth Financial LP boosted 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 acquiring an additional 818 shares during the last quarter. Vision Financial Markets LLC bought a new position in Advance Auto Parts in the fourth quarter valued at approximately $42,000. GAMMA Investing LLC lifted its stake in shares of Advance Auto Parts by 198.3% in the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company's stock valued at $74,000 after purchasing an additional 1,047 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Advance Auto Parts by 38.9% in the 4th quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock worth $79,000 after purchasing an additional 469 shares during the last quarter. 88.75% of the stock is owned by institutional investors.

Remove Ads

Advance Auto Parts Stock Performance

Shares of AAP stock traded up $0.30 during trading hours on Wednesday, hitting $37.84. 1,514,066 shares of the company were exchanged, compared to its average volume of 2,104,355. Advance Auto Parts, Inc. has a 52-week low of $33.08 and a 52-week high of $86.47. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $42.73 and a 200 day simple moving average of $41.85. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 51.84, a P/E/G ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, April 11th. 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 business's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $36.79 per share, with a total value 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 $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the business's stock in a transaction on Thursday, March 6th. The stock was 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. This represents a 75.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AAP shares. Barclays reduced their target price 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. BMO Capital Markets reduced their price objective on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada cut their target price on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Truist Financial reduced 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 research report on Thursday, February 27th. Finally, Wedbush restated 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 research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average 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.