Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Easterly Investment Partners LLC

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

Several other large investors have also recently added to or reduced their stakes in AAP. Versant Capital Management Inc lifted its holdings in Advance Auto Parts by 207.4% in the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after acquiring an additional 365 shares during the period. Allworth Financial LP lifted 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 during the period. Vision Financial Markets LLC purchased a new stake in Advance Auto Parts during the fourth quarter worth about $42,000. GAMMA Investing LLC grew its position in Advance Auto Parts by 198.3% during the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock worth $74,000 after buying an additional 1,047 shares during the period. Finally, Blue Trust Inc. increased its holdings in Advance Auto Parts by 38.9% in the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company’s stock valued at $79,000 after buying an additional 469 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Trading Up 6.7 %

Shares of AAP opened at $40.36 on Friday. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 55.29, a P/E/G ratio of 1.98 and a beta of 1.27. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a 12-month low of $33.08 and a 12-month high of $86.47. The stock’s 50-day moving average price is $42.62 and its 200 day moving average price is $41.84.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, April 11th. Advance Auto Parts’s dividend payout ratio is presently -17.86%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAP. Wells Fargo & Company boosted 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. Barclays dropped their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. BMO Capital Markets dropped 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. Royal Bank of Canada decreased 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 note on Thursday, February 27th. Finally, Evercore ISI dropped their price target on 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. One equities research 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.13.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of Advance Auto Parts stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $36.79 per share, with a total value of $55,185.00. Following the completion of the purchase, the chief executive officer now owns 183,121 shares in the company, valued at $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 this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was 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 ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate insiders.

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.