Alliancebernstein L.P. Sells 1,823 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Alliancebernstein L.P. decreased its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,608 shares of the company’s stock after selling 1,823 shares during the period. Alliancebernstein L.P.’s holdings in Advance Auto Parts were worth $1,116,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AAP. New Age Alpha Advisors LLC bought a new position in Advance Auto Parts in the fourth quarter valued at approximately $4,683,000. Norges Bank bought a new stake in Advance Auto Parts during the fourth quarter worth $10,867,000. WINTON GROUP Ltd acquired a new stake in Advance Auto Parts in the fourth quarter valued at $541,000. Segall Bryant & Hamill LLC bought a new position in shares of Advance Auto Parts in the 4th quarter valued at about $34,586,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Advance Auto Parts during the 4th quarter worth about $577,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on AAP shares. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Truist Financial dropped 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. BMO Capital Markets reduced their price objective 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 dropped 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 reduced their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.13.

Insider Activity at Advance Auto Parts

In related news, CEO Shane M. Okelly bought 1,500 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the chief executive officer now owns 183,121 shares of the company’s stock, valued at $6,737,021.59. The trade was a 0.83 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $34.15 per share, with a total value of $499,956.00. Following the completion of the transaction, the director now owns 34,070 shares in the company, valued at $1,163,490.50. This represents a 75.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by insiders.

Advance Auto Parts Stock Performance

NYSE:AAP opened at $31.79 on Friday. 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 fifty-two week low of $28.89 and a fifty-two week high of $79.41. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 43.55, a PEG ratio of 1.98 and a beta of 1.07. The stock has a fifty day moving average price of $37.98 and a 200-day moving average price of $41.09.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 3.15%. Advance Auto Parts’s payout ratio is -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.