Man Group plc Sells 50,049 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Man Group plc trimmed its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 67.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,429 shares of the company's stock after selling 50,049 shares during the quarter. Man Group plc's holdings in Advance Auto Parts were worth $1,155,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP raised its holdings 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 buying an additional 818 shares during the last quarter. Vision Financial Markets LLC bought a new position in shares of Advance Auto Parts in the fourth quarter valued at about $42,000. Advisory Services Network LLC bought a new position in shares of Advance Auto Parts in the fourth quarter valued at about $46,000. Blue Trust Inc. raised its holdings in shares of 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 during the last quarter. Finally, KBC Group NV raised its holdings in shares of Advance Auto Parts by 51.6% in the fourth quarter. KBC Group NV now owns 2,651 shares of the company's stock valued at $125,000 after buying an additional 902 shares during the last quarter. 88.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AAP has been the subject of a number of research reports. DA Davidson lifted their price objective on Advance Auto Parts from $45.00 to $47.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Bank of America lifted their price objective on Advance Auto Parts from $33.00 to $39.00 and gave the stock an "underperform" rating in a research report on Friday, May 23rd. Raymond James lifted their price objective on Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research report on Monday. Truist Financial lowered their price objective on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Finally, UBS Group reiterated a "neutral" rating and issued a $50.00 price objective (up from $36.00) on shares of Advance Auto Parts in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $46.11.

Advance Auto Parts Trading Down 5.8%

Shares of Advance Auto Parts stock traded down $3.06 during trading on Thursday, hitting $49.66. 1,236,266 shares of the company were exchanged, compared to its average volume of 2,466,121. 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 firm's fifty day moving average price is $35.41 and its 200 day moving average price is $40.62. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $71.09. The firm has a market capitalization of $2.97 billion, a P/E ratio of 68.08, a price-to-earnings-growth ratio of 1.98 and a beta of 0.93.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.59. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the firm earned $0.67 EPS. Advance Auto Parts's quarterly revenue was down 24.2% compared to the same quarter last year. As a group, sell-side analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a $0.25 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.01%. Advance Auto Parts's dividend payout ratio is presently -17.04%.

Insider Activity at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of the business's stock in a transaction on Thursday, March 6th. The stock was purchased at an average price 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. 0.35% of the stock is owned by insiders.

Advance Auto Parts 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.