Schonfeld Strategic Advisors LLC Grows Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Schonfeld Strategic Advisors LLC boosted its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 66.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,306 shares of the company's stock after purchasing an additional 55,169 shares during the quarter. Schonfeld Strategic Advisors LLC owned approximately 0.23% of Advance Auto Parts worth $6,540,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Versant Capital Management Inc increased its stake in shares of Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company's stock worth $26,000 after buying an additional 365 shares during the period. Allworth Financial LP increased its position in shares of Advance Auto Parts by 1,543.4% in the 4th 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 last quarter. Vision Financial Markets LLC acquired a new stake in shares of Advance Auto Parts in the 4th quarter valued at $42,000. Advisory Services Network LLC purchased a new stake in shares of Advance Auto Parts during the 4th quarter worth $46,000. Finally, GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 1,047 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company's stock.

Insiders Place Their Bets

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the acquisition, the chief executive officer now directly owns 183,121 shares of the company's stock, valued at approximately $6,737,021.59. The trade was a 0.83 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eugene I. Lee, Jr. bought 14,640 shares of Advance Auto Parts stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $34.15 per share, with a total value of $499,956.00. Following the acquisition, 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. 0.35% of the stock is currently owned by insiders.

Advance Auto Parts Stock Performance

Shares of NYSE:AAP traded up $0.40 during midday trading on Friday, hitting $33.37. The stock had a trading volume of 1,685,987 shares, compared to its average volume of 2,239,833. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $77.49. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $35.10 and a two-hundred day moving average price of $40.69. The company has a market capitalization of $2.00 billion, a PE ratio of 45.71, a P/E/G ratio of 1.98 and a beta of 1.07.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Friday, April 11th. Advance Auto Parts's dividend payout ratio is presently -17.86%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Evercore ISI decreased their price target on Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a report on Tuesday, March 11th. Truist Financial lowered their price target on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Royal Bank of Canada cut 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 report on Thursday, February 27th. Wedbush restated an "outperform" rating and issued a $55.00 target price on shares of Advance Auto Parts in a report on Monday, March 3rd. Finally, Citigroup cut their price target on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.