Renaissance Technologies LLC Sells 71,100 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Renaissance Technologies LLC trimmed its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 73.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,050 shares of the company's stock after selling 71,100 shares during the period. Renaissance Technologies LLC's holdings in Advance Auto Parts were worth $1,232,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in shares of Advance Auto Parts by 3.9% in the fourth quarter. CIBC Asset Management Inc now owns 5,865 shares of the company's stock valued at $277,000 after purchasing an additional 221 shares during the last quarter. Yousif Capital Management LLC increased its position in shares of Advance Auto Parts by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 26,258 shares of the company's stock valued at $1,242,000 after acquiring an additional 281 shares during the last quarter. Ingalls & Snyder LLC raised its holdings in Advance Auto Parts by 5.0% during the fourth quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company's stock worth $316,000 after acquiring an additional 317 shares in the last quarter. Versant Capital Management Inc boosted its position in 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 during the last quarter. Finally, Blue Trust Inc. grew its stake 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 purchasing an additional 469 shares in the last quarter. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Price Performance

Shares of AAP traded up $0.40 during midday trading on Friday, hitting $33.37. The company's stock had a trading volume of 1,685,987 shares, compared to its average volume of 2,234,035. 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 one year low of $28.89 and a one year high of $77.49. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 45.71, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. The company's fifty day simple moving average is $35.10 and its two-hundred day simple moving average is $40.66.

Advance Auto Parts Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.00%. Advance Auto Parts's dividend payout ratio (DPR) is currently -17.86%.

Insider Activity

In other news, Director Eugene I. Lee, Jr. bought 14,640 shares of the stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, with a total value of $499,956.00. Following the acquisition, the director now directly owns 34,070 shares in the company, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Shane M. Okelly purchased 1,500 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $36.79 per share, for a total transaction of $55,185.00. Following the completion of the purchase, the chief executive officer now directly owns 183,121 shares of the company's stock, valued at approximately $6,737,021.59. This 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.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AAP. Barclays lowered their price objective on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 9th. Evercore ISI cut their price objective on Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a research report on Tuesday, March 11th. BMO Capital Markets dropped their price target on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a research note on Thursday, February 27th. Citigroup reduced their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Royal Bank of Canada dropped their price objective on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $45.13.

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.