Voloridge Investment Management LLC Has $7.81 Million Position in Advance Auto Parts, Inc. (NYSE:AAP)

Voloridge Investment Management LLC trimmed its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 16.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,130 shares of the company's stock after selling 32,338 shares during the quarter. Voloridge Investment Management LLC owned about 0.28% of Advance Auto Parts worth $7,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company's stock worth $40,000 after purchasing an additional 818 shares in the last quarter. Vision Financial Markets LLC bought a new position in shares of Advance Auto Parts during the fourth quarter valued at about $42,000. Advisory Services Network LLC bought a new position in shares of Advance Auto Parts during the fourth quarter valued at about $46,000. Blue Trust Inc. boosted its holdings in shares of Advance Auto Parts by 38.9% during the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock worth $79,000 after purchasing an additional 469 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Advance Auto Parts by 51.6% during the fourth quarter. KBC Group NV now owns 2,651 shares of the company's stock worth $125,000 after purchasing an additional 902 shares during the period. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Stock Down 0.6%

Advance Auto Parts stock traded down $0.30 during midday trading on Friday, reaching $48.06. The company's stock had a trading volume of 830,310 shares, compared to its average volume of 2,453,178. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $71.09. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.88 billion, a P/E ratio of 65.80, a P/E/G ratio of 1.98 and a beta of 0.93. The business has a 50-day simple moving average of $35.60 and a 200-day simple moving average of $40.67.

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, topping the consensus estimate of ($0.81) by $0.59. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business's quarterly revenue was down 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 earnings per share. On average, research analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. Advance Auto Parts's payout ratio is currently -17.04%.

Wall Street Analyst Weigh In

AAP has been the subject of a number of analyst reports. Wells Fargo & Company set a $35.00 target price on shares of Advance Auto Parts and gave the stock an "equal weight" rating in a report on Monday, May 19th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $50.00 target price (up previously from $40.00) on shares of Advance Auto Parts in a research report on Friday, May 23rd. Morgan Stanley lifted their target price on shares of Advance Auto Parts from $45.00 to $48.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. DA Davidson boosted their price target on shares of Advance Auto Parts from $45.00 to $47.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Truist Financial reduced their target price on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $46.11.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. acquired 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 completion of the purchase, the director now directly owns 34,070 shares in the company, valued at $1,163,490.50. The trade was a 75.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Shane M. Okelly purchased 1,500 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price 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 of the company's stock, valued at $6,737,021.59. This trade represents a 0.83% increase in their position. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate 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.