Illinois Municipal Retirement Fund Cuts Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Illinois Municipal Retirement Fund lessened its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 20.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 28,816 shares of the company’s stock after selling 7,292 shares during the period. Illinois Municipal Retirement Fund’s holdings in Advance Auto Parts were worth $1,363,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after purchasing an additional 365 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock valued at $40,000 after acquiring an additional 818 shares during the last quarter. KBC Group NV lifted its holdings 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 acquiring an additional 394 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 1,047 shares during the last quarter. Finally, AM Squared Ltd lifted its holdings in shares of Advance Auto Parts by 100.0% in the 3rd quarter. AM Squared Ltd now owns 2,000 shares of the company’s stock valued at $78,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AAP shares. Royal Bank of Canada lowered their price target 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. DA Davidson reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Advance Auto Parts in a report on Friday, November 15th. UBS Group increased their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Truist Financial decreased their price objective 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. Finally, The Goldman Sachs Group decreased their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.69.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $36.90 on Friday. The company has a market capitalization of $2.20 billion, a PE ratio of 50.55, a P/E/G ratio of 1.98 and a beta of 1.15. The company has a 50 day moving average price of $45.88 and a 200-day moving average price of $43.74. 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 $35.59 and a fifty-two week high of $88.56.

Advance Auto Parts Dividend Announcement

The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.71%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s payout ratio is 136.99%.

Insider Activity at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now directly owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

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.