AXQ Capital LP Has $476,000 Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

AXQ Capital LP lowered its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 89.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,069 shares of the company’s stock after selling 84,756 shares during the quarter. AXQ Capital LP’s holdings in Advance Auto Parts were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of Advance Auto Parts by 24.9% in the third quarter. Victory Capital Management Inc. now owns 56,016 shares of the company’s stock worth $2,184,000 after acquiring an additional 11,183 shares in the last quarter. KBC Group NV boosted its stake in Advance Auto Parts by 29.1% in the 3rd quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after purchasing an additional 394 shares during the period. Quest Partners LLC purchased a new position in Advance Auto Parts during the 3rd quarter worth approximately $579,000. Commerce Bank raised its stake in Advance Auto Parts by 304.1% during the 3rd quarter. Commerce Bank now owns 14,648 shares of the company’s stock valued at $571,000 after purchasing an additional 11,023 shares during the period. Finally, Studio Investment Management LLC lifted its holdings in shares of Advance Auto Parts by 41.4% in the third quarter. Studio Investment Management LLC now owns 5,207 shares of the company’s stock valued at $203,000 after purchasing an additional 1,524 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Insider Buying and Selling at Advance Auto Parts

In other news, CEO Shane M. Okelly bought 1,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $36.79 per share, with a total value of $55,185.00. Following the transaction, the chief executive officer now directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. The trade was a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the completion of the transaction, the director now 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. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AAP. Wells Fargo & Company lifted 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 lowered their target price 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. BMO Capital Markets reduced 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 report on Thursday, February 27th. Evercore ISI lowered their price objective on shares of Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Finally, Citigroup dropped their price objective 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. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.13.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $37.43 on Friday. The stock has a market capitalization of $2.24 billion, a P/E ratio of 51.27, a P/E/G ratio of 1.98 and a beta of 1.27. The business has a 50-day moving average of $43.12 and a two-hundred day moving average of $41.91. Advance Auto Parts, Inc. has a fifty-two week low of $33.08 and a fifty-two week high of $87.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.67%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -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.