Advance Auto Parts, Inc. (NYSE:AAP) Stock Position Decreased by Quantbot Technologies LP

Quantbot Technologies LP decreased its position in Advance Auto Parts, Inc. (NYSE:AAP) by 54.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,998 shares of the company’s stock after selling 12,889 shares during the quarter. Quantbot Technologies LP’s holdings in Advance Auto Parts were worth $520,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its stake in Advance Auto Parts by 2,662.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company’s stock valued at $61,156,000 after acquiring an additional 1,246,384 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Advance Auto Parts by 244.7% in the 4th quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company’s stock valued at $35,006,000 after purchasing an additional 525,504 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Advance Auto Parts by 12.5% in 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 increased its position in 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 buying an additional 327,417 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. bought a new position in Advance Auto Parts during the third quarter valued at about $9,046,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AAP shares. Royal Bank of Canada decreased their price target on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company increased their price target on Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Truist Financial dropped 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. Citigroup lowered 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 note on Thursday, February 27th. Finally, BMO Capital Markets decreased their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.13.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the company’s 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 acquisition, the director now directly owns 34,070 shares of the company’s stock, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Shane M. Okelly bought 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the acquisition, the chief executive officer now directly owns 183,121 shares of the company’s stock, valued at approximately $6,737,021.59. The trade was a 0.83 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is owned by insiders.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock opened at $40.36 on Friday. Advance Auto Parts, Inc. has a twelve month low of $33.08 and a twelve month high of $86.47. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The firm has a market cap of $2.41 billion, a P/E ratio of 55.29, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27. The firm’s 50-day simple moving average is $42.62 and its 200-day simple moving average is $41.84.

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 issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.48%. Advance Auto Parts’s payout ratio is presently -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.