CenterBook Partners LP Has $2.35 Million Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

CenterBook Partners LP reduced its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 37.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,666 shares of the company's stock after selling 29,654 shares during the period. CenterBook Partners LP owned about 0.08% of Advance Auto Parts worth $2,349,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Pzena Investment Management LLC raised its holdings in Advance Auto Parts by 12.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock worth $154,681,000 after purchasing an additional 362,239 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Advance Auto Parts by 30.4% during the fourth quarter. Royce & Associates LP now owns 1,403,004 shares of the company's stock worth $66,348,000 after purchasing an additional 327,417 shares during the period. Thrivent Financial for Lutherans grew its position in Advance Auto Parts by 2,662.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock valued at $61,156,000 after buying an additional 1,246,384 shares during the last quarter. Geode Capital Management LLC raised its position in Advance Auto Parts by 13.0% during the 4th quarter. Geode Capital Management LLC now owns 938,231 shares of the company's stock worth $44,384,000 after buying an additional 108,226 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Advance Auto Parts by 244.7% during the 4th quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company's stock worth $35,006,000 after buying an additional 525,504 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Advance Auto Parts

In related news, Director Eugene I. Lee, Jr. bought 14,640 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the purchase, the director now directly owns 34,070 shares in the company, valued at $1,163,490.50. This trade represents a 75.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shane M. Okelly purchased 1,500 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was bought 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. The trade was 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 owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Wedbush reissued an "outperform" rating and set a $55.00 price target on shares of Advance Auto Parts in a research note on Monday, March 3rd. Truist Financial dropped their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Royal Bank of Canada cut their price target on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Finally, Citigroup decreased their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Advance Auto Parts has an average rating of "Hold" and a consensus price target of $45.13.

Advance Auto Parts Stock Up 0.6 %

Advance Auto Parts stock traded up $0.20 during mid-day trading on Tuesday, hitting $33.08. 497,226 shares of the company's stock were exchanged, compared to its average volume of 2,213,777. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $79.41. The stock has a 50 day moving average of $38.88 and a two-hundred day moving average of $41.27. The stock has a market cap of $1.98 billion, a P/E ratio of 45.32, a P/E/G ratio of 1.98 and a beta of 1.07. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Friday, April 11th. Advance Auto Parts's dividend 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.