Neo Ivy Capital Management Sells 39,256 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Neo Ivy Capital Management reduced its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 66.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 19,832 shares of the company's stock after selling 39,256 shares during the period. Neo Ivy Capital Management's holdings in Advance Auto Parts were worth $774,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Advance Auto Parts during the 2nd quarter worth approximately $41,000. Blue Trust Inc. increased its holdings in shares of Advance Auto Parts by 56.7% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the company's stock valued at $47,000 after purchasing an additional 436 shares during the last quarter. AM Squared Ltd bought a new position in shares of Advance Auto Parts in the second quarter valued at about $63,000. KBC Group NV lifted its stake in shares of Advance Auto Parts by 29.1% during the 3rd quarter. KBC Group NV now owns 1,749 shares of the company's stock worth $68,000 after buying an additional 394 shares during the last quarter. Finally, City State Bank acquired a new position in Advance Auto Parts in the 3rd quarter valued at about $78,000. Institutional investors and hedge funds own 88.75% of the company's stock.

Analyst Upgrades and Downgrades

AAP has been the topic of a number of research reports. Wells Fargo & Company decreased their price objective on Advance Auto Parts from $50.00 to $40.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. TD Cowen lowered their price objective on Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating on the stock in a research note on Friday, August 23rd. Truist Financial cut their target price on Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating for the company in a research report on Friday, November 15th. Mizuho reaffirmed a "neutral" rating and issued a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Finally, Wedbush reiterated an "outperform" rating and set a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Advance Auto Parts has an average rating of "Hold" and an average target price of $48.64.

Insider Transactions at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the sale, the executive vice president now directly owns 24,266 shares in the company, valued at $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Advance Auto Parts Price Performance

AAP stock traded down $1.53 during midday trading on Thursday, reaching $44.01. 1,974,378 shares of the stock were exchanged, compared to its average volume of 2,084,635. Advance Auto Parts, Inc. has a 52 week low of $35.59 and a 52 week high of $88.56. The company has a fifty day moving average price of $40.14 and a 200 day moving average price of $50.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The stock has a market capitalization of $2.63 billion, a PE ratio of 60.29 and a beta of 1.21.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.82) earnings per share. As a group, analysts expect that Advance Auto Parts, Inc. will post -0.51 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts's payout ratio is currently 136.99%.

About Advance Auto Parts

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.