AlphaQuest LLC Has $27,000 Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

AlphaQuest LLC reduced its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 96.2% in the 4th quarter, HoldingsChannel reports. The fund owned 571 shares of the company’s stock after selling 14,268 shares during the period. AlphaQuest LLC’s holdings in Advance Auto Parts were worth $27,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AAP. Allianz Asset Management GmbH increased its position in shares of Advance Auto Parts by 244.7% during the fourth 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 during the period. Maple Rock Capital Partners Inc. acquired a new stake in shares of Advance Auto Parts during the third quarter worth $9,046,000. Empowered Funds LLC acquired a new stake in shares of Advance Auto Parts during the fourth quarter worth $8,947,000. Raymond James Financial Inc. acquired a new stake in Advance Auto Parts in the fourth quarter worth $8,822,000. Finally, Edgestream Partners L.P. acquired a new stake in Advance Auto Parts in the fourth quarter worth $5,116,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on AAP. Truist Financial reduced their price target 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. Wells Fargo & Company raised their price target on shares of Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Citigroup reduced their price target on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Evercore ISI reduced their price target on shares of Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Finally, Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.13.

Advance Auto Parts Stock Down 0.6 %

AAP opened at $37.43 on Friday. 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 company’s 50-day moving average is $43.12 and its 200 day moving average is $41.92. Advance Auto Parts, Inc. has a fifty-two week low of $33.08 and a fifty-two week high of $87.36. The firm has a market capitalization of $2.24 billion, a P/E ratio of 51.27, a PEG ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s payout ratio is currently -17.86%.

Insider Activity at Advance Auto Parts

In related news, CEO Shane M. Okelly acquired 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $36.79 per share, for a total transaction 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 approximately $6,737,021.59. This represents a 0.83 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price 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 $1,163,490.50. The trade was a 75.35 % increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is owned by insiders.

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.