Easterly Investment Partners LLC Sells 29,151 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Easterly Investment Partners LLC lessened its position in Advance Auto Parts, Inc. (NYSE:AAP) by 66.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,800 shares of the company’s stock after selling 29,151 shares during the period. Easterly Investment Partners LLC’s holdings in Advance Auto Parts were worth $700,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAP. Quantbot Technologies LP increased its holdings in shares of Advance Auto Parts by 564.6% in the third quarter. Quantbot Technologies LP now owns 23,887 shares of the company’s stock valued at $931,000 after purchasing an additional 20,293 shares during the last quarter. Blueshift Asset Management LLC raised its holdings in Advance Auto Parts by 20.1% in the 3rd quarter. Blueshift Asset Management LLC now owns 7,094 shares of the company’s stock valued at $277,000 after acquiring an additional 1,188 shares during the period. FORA Capital LLC acquired a new stake in Advance Auto Parts during the third quarter worth approximately $2,144,000. Clearline Capital LP boosted its holdings 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 worth $17,360,000 after acquiring an additional 39,699 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of Advance Auto Parts by 72.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 159,050 shares of the company’s stock valued at $6,201,000 after purchasing an additional 66,690 shares during the last quarter. Institutional investors own 88.75% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Shane M. Okelly purchased 1,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $36.79 per share, with a total value of $55,185.00. Following the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the business’s stock in a transaction dated 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 directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. This 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.

Analysts Set New Price Targets

AAP has been the topic of several recent research reports. Wells Fargo & Company increased their price objective on Advance Auto Parts from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Barclays decreased their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Truist Financial cut their price target on 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. Citigroup lowered their price objective on 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. Finally, Royal Bank of Canada cut their target price on Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. One investment 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. According to data from MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and an average target price of $45.13.

Advance Auto Parts Stock Performance

Shares of AAP opened at $40.36 on Friday. The stock’s fifty day moving average price is $42.62 and its two-hundred day moving average price is $41.84. Advance Auto Parts, Inc. has a 1 year low of $33.08 and a 1 year high of $86.47. The firm has a market cap of $2.41 billion, a PE ratio of 55.29, a PEG ratio of 1.98 and a beta of 1.27. 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 company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.48%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -17.86%.

Advance Auto Parts Company 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.