CenterBook Partners LP Sells 29,654 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

CenterBook Partners LP decreased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 37.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,666 shares of the company’s stock after selling 29,654 shares during the period. CenterBook Partners LP’s holdings in Advance Auto Parts were worth $2,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AAP. Blue Trust Inc. raised its holdings in shares of Advance Auto Parts by 75.9% during the fourth quarter. Blue Trust Inc. now owns 2,119 shares of the company’s stock valued at $100,000 after acquiring an additional 914 shares in the last quarter. Moody National Bank Trust Division purchased a new position in shares of Advance Auto Parts during the 4th quarter worth approximately $1,196,000. Raymond James Financial Inc. bought a new position in shares of Advance Auto Parts in the 4th quarter worth approximately $8,822,000. Commonwealth Equity Services LLC lifted its stake in shares of Advance Auto Parts by 97.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 305,622 shares of the company’s stock valued at $14,453,000 after purchasing an additional 150,604 shares during the period. Finally, Annandale Capital LLC grew its stake in Advance Auto Parts by 46.6% in the fourth quarter. Annandale Capital LLC now owns 109,241 shares of the company’s stock worth $5,166,000 after purchasing an additional 34,746 shares during the period. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly bought 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the transaction, the chief executive officer now owns 183,121 shares of the company’s stock, valued at $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 the SEC website. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

AAP has been the subject of several research reports. 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 research note on Thursday, February 27th. Truist Financial cut their price target on Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company raised their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Barclays dropped their target price on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Finally, Wedbush restated an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a report on Monday, March 3rd. One equities 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $45.13.

Advance Auto Parts Trading Up 10.4 %

Shares of AAP stock opened at $33.45 on Thursday. The stock has a market capitalization of $2.00 billion, a P/E ratio of 45.82, a P/E/G ratio of 1.98 and a beta of 1.07. 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 firm’s 50 day moving average is $39.86 and its 200 day moving average is $41.44. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $79.41.

Advance Auto Parts Dividend Announcement

The company also recently disclosed 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 yield of 2.99%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently -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.