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

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

Several other hedge funds have also made changes to their positions in AAP. Versant Capital Management Inc raised its holdings in Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after acquiring an additional 365 shares in the last quarter. Allworth Financial LP raised its stake 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 valued at $40,000 after purchasing an additional 818 shares in the last quarter. Vision Financial Markets LLC bought a new position in Advance Auto Parts in the fourth quarter worth $42,000. KBC Group NV boosted its stake in Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after buying an additional 394 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Advance Auto Parts by 198.3% in the 4th quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock valued at $74,000 after buying an additional 1,047 shares during the period. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Performance

AAP stock opened at $37.43 on Friday. The company has a 50 day moving average price of $43.12 and a 200 day moving average price 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. The stock has a market capitalization of $2.24 billion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27.

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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently -17.86%.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly bought 1,500 shares of Advance Auto Parts stock in a transaction dated Tuesday, March 11th. The shares were bought 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 of the company’s stock, valued at $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $34.15 per share, with a total value of $499,956.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AAP shares. Royal Bank of Canada reduced their price objective on shares of Advance Auto Parts from $50.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. BMO Capital Markets decreased their price objective on Advance Auto Parts from $45.00 to $40.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. Citigroup dropped their target price on Advance Auto Parts from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Barclays decreased their price target on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Finally, Truist Financial dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.13.

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.