Russell Investments Group Ltd. Trims Position in Advance Auto Parts, Inc. (NYSE:AAP)

Russell Investments Group Ltd. decreased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 18.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,020 shares of the company’s stock after selling 33,225 shares during the quarter. Russell Investments Group Ltd.’s holdings in Advance Auto Parts were worth $6,952,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AAP. CIBC Asset Management Inc grew its holdings in Advance Auto Parts by 3.9% in the 4th quarter. CIBC Asset Management Inc now owns 5,865 shares of the company’s stock valued at $277,000 after buying an additional 221 shares during the period. Yousif Capital Management LLC boosted its position in shares of Advance Auto Parts by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock worth $1,242,000 after acquiring an additional 281 shares during the last quarter. Ingalls & Snyder LLC grew its holdings in Advance Auto Parts by 5.0% in the fourth quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company’s stock valued at $316,000 after purchasing an additional 317 shares during the period. Versant Capital Management Inc increased its position in Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after purchasing an additional 365 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Advance Auto Parts by 38.9% during the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company’s stock worth $79,000 after purchasing an additional 469 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on AAP. Evercore ISI lowered their price objective on shares of Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. Barclays dropped their price target on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Wells Fargo & Company lifted their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. BMO Capital Markets dropped their target price on shares of Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reduced their price target on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.13.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. bought 14,640 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the purchase, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Shane M. Okelly bought 1,500 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the acquisition, the chief executive officer now directly owns 183,121 shares of the company’s stock, valued at $6,737,021.59. This trade represents a 0.83 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $32.32 on Monday. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $79.41. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The stock has a market cap of $1.93 billion, a P/E ratio of 44.27, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. The stock has a 50 day moving average of $39.20 and a 200-day moving average of $41.33.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio is currently -17.86%.

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.