Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 97.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,786 shares of the company’s stock after selling 939,760 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Advance Auto Parts were worth $1,005,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Advance Auto Parts during the second quarter worth $41,000. Blue Trust Inc. boosted its holdings in Advance Auto Parts by 56.7% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock valued at $47,000 after acquiring an additional 436 shares during the last quarter. AM Squared Ltd acquired a new stake in Advance Auto Parts during the second quarter worth about $63,000. KBC Group NV lifted its stake in shares of Advance Auto Parts by 29.1% in the 3rd quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after purchasing an additional 394 shares in the last quarter. Finally, City State Bank acquired a new position in shares of Advance Auto Parts in the 3rd quarter valued at about $78,000. 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 dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.35% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AAP has been the topic of several research reports. 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. Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research report on Friday, November 15th. Truist Financial lowered their price target on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a report on Friday, November 15th. Roth Mkm restated a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Finally, UBS Group raised their target price on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and an average target price of $48.64.

Advance Auto Parts Price Performance

AAP opened at $44.97 on Monday. The company has a market capitalization of $2.69 billion, a P/E ratio of 61.60 and a beta of 1.21. The company has a 50-day moving average of $39.51 and a 200-day moving average of $50.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. Advance Auto Parts, Inc. has a 1-year low of $35.59 and a 1-year high of $88.56.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the firm earned ($0.82) earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts expect that Advance Auto Parts, Inc. will post -0.51 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

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.