Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC reduced its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 90.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,799 shares of the company's stock after selling 66,610 shares during the period. Guggenheim Capital LLC's holdings in Advance Auto Parts were worth $322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAP. Pzena Investment Management LLC raised its holdings in shares of Advance Auto Parts by 12.5% during the 4th quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock worth $154,681,000 after acquiring an additional 362,239 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in Advance Auto Parts in the fourth quarter worth $75,055,000. Royce & Associates LP raised its stake in Advance Auto Parts by 30.4% during the fourth quarter. Royce & Associates LP now owns 1,403,004 shares of the company's stock valued at $66,348,000 after purchasing an additional 327,417 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Advance Auto Parts by 2,662.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company's stock valued at $61,156,000 after purchasing an additional 1,246,384 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Advance Auto Parts by 13.0% in the 4th quarter. Geode Capital Management LLC now owns 938,231 shares of the company's stock worth $44,384,000 after buying an additional 108,226 shares in the last quarter. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Stock Down 1.7 %

AAP stock traded down $0.57 on Wednesday, hitting $32.74. 1,398,342 shares of the company's stock were exchanged, compared to its average volume of 2,225,773. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock has a market cap of $1.96 billion, a P/E ratio of 44.85, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. The firm has a 50 day moving average price of $35.76 and a two-hundred day moving average price of $40.81. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $77.49.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 3.05%. Advance Auto Parts's dividend payout ratio (DPR) is presently -17.86%.

Insider Transactions at Advance Auto Parts

In other news, CEO Shane M. Okelly bought 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the purchase, the chief executive officer now directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 purchased at an average price of $34.15 per share, for a total transaction of $499,956.00. Following the transaction, the director now owns 34,070 shares of the company's stock, 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. Company insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their price target on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Citigroup decreased their price target on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Truist Financial dropped 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, February 27th. Wedbush reissued an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Monday, March 3rd. Finally, Evercore ISI dropped their price target 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. One 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's stock. According to data from MarketBeat, 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.