Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 327,900 shares of the company's stock after selling 17,900 shares during the period. Two Sigma Advisers LP owned about 0.55% of Advance Auto Parts worth $12,785,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AAP. Pzena Investment Management LLC boosted its holdings in shares of Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company's stock valued at $113,409,000 after acquiring an additional 1,698,155 shares during the last quarter. Dorsal Capital Management LP lifted its stake in shares of Advance Auto Parts by 159.7% in the 2nd quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company's stock valued at $79,162,000 after purchasing an additional 768,664 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Advance Auto Parts by 76.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company's stock valued at $80,197,000 after purchasing an additional 547,696 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Advance Auto Parts in the 3rd quarter valued at $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Advance Auto Parts in the 3rd quarter valued at $14,684,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Price Performance

Shares of NYSE AAP traded down $0.38 during mid-day trading on Tuesday, reaching $47.06. The company's stock had a trading volume of 1,993,300 shares, compared to its average volume of 2,087,590. The stock has a 50-day moving average of $39.68 and a two-hundred day moving average of $50.56. The stock has a market capitalization of $2.81 billion, a P/E ratio of 63.56 and a beta of 1.21. 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 1-year low of $35.59 and a 1-year high of $88.56.

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

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Friday, January 10th. Advance Auto Parts's dividend payout ratio is currently 136.99%.

Analyst Ratings Changes

AAP has been the subject of several analyst reports. Truist Financial decreased their target price on shares of Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating for the company in a research note on Friday, November 15th. Mizuho reiterated a "neutral" rating and issued a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. The Goldman Sachs Group decreased their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Roth Mkm reiterated a "neutral" rating and issued a $40.00 target price on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Finally, Evercore ISI boosted their target price on shares of Advance Auto Parts from $45.00 to $60.00 and gave the company a "hold" rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $48.64.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now owns 24,266 shares of the company's stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.35% of the stock is currently owned by insiders.

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.