Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lowered its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 83.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,472 shares of the company’s stock after selling 101,851 shares during the period. ExodusPoint Capital Management LP’s holdings in Advance Auto Parts were worth $968,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AAP. Versant Capital Management Inc increased its position in shares of Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after acquiring an additional 365 shares in the last quarter. Allworth Financial LP increased its position in shares of Advance Auto Parts by 1,543.4% in the fourth quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after acquiring an additional 818 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in shares of Advance Auto Parts in the fourth quarter worth $42,000. GAMMA Investing LLC increased its position in shares of Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Advance Auto Parts by 38.9% in the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company’s stock worth $79,000 after acquiring an additional 469 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analyst Ratings Changes

AAP has been the subject of several analyst reports. Truist Financial decreased their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Evercore ISI decreased their target price on shares of Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. Wells Fargo & Company upped their target price on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Royal Bank of Canada decreased their target price on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Finally, Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.13.

Advance Auto Parts Stock Down 3.8 %

Shares of NYSE:AAP opened at $32.21 on Friday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 44.13, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $79.41. The company’s fifty day moving average is $39.54 and its two-hundred day moving average is $41.38. 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 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 issued a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.10%. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Insider Buying and Selling

In related news, CEO Shane M. Okelly bought 1,500 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $36.79 per share, with a total value of $55,185.00. Following the purchase, the chief executive officer now owns 183,121 shares in the company, valued at approximately $6,737,021.59. This represents a 0.83 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $34.15 per share, for a total transaction of $499,956.00. Following the purchase, the director now owns 34,070 shares in the company, valued at $1,163,490.50. This trade represents 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.

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.