Phocas Financial Corp. Cuts Position in Advance Auto Parts, Inc. (NYSE:AAP)

Phocas Financial Corp. cut its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 85.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,536 shares of the company’s stock after selling 82,317 shares during the period. Phocas Financial Corp.’s holdings in Advance Auto Parts were worth $687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its position in Advance Auto Parts by 140.3% in the third quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock worth $113,409,000 after buying an additional 1,698,155 shares during the last quarter. Royce & Associates LP grew its holdings in Advance Auto Parts by 31.7% during the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock valued at $41,937,000 after purchasing an additional 258,656 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Advance Auto Parts by 244.7% in the fourth quarter. Allianz Asset Management GmbH now owns 740,234 shares of the company’s stock worth $35,006,000 after purchasing an additional 525,504 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Advance Auto Parts during the third quarter valued at approximately $17,477,000. Finally, Clearline Capital LP grew its stake in shares of Advance Auto Parts by 9.8% during the third quarter. Clearline Capital LP now owns 445,244 shares of the company’s stock valued at $17,360,000 after buying an additional 39,699 shares during the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. The trade was a 5.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

AAP has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Wedbush reiterated an “outperform” rating and set a $55.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. The Goldman Sachs Group cut their price target on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. BMO Capital Markets started coverage on shares of Advance Auto Parts in a report on Friday, December 13th. They set a “market perform” rating and a $45.00 price objective for the company. Finally, Truist Financial dropped their target price on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $47.88.

Advance Auto Parts Price Performance

Shares of AAP stock opened at $45.93 on Wednesday. The stock’s 50-day moving average is $46.22 and its 200 day moving average is $43.98. Advance Auto Parts, Inc. has a 1-year low of $35.59 and a 1-year high of $88.56. 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 has a market cap of $2.74 billion, a P/E ratio of 62.92, a PEG ratio of 1.98 and a beta of 1.15.

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.