Counterpoint Mutual Funds LLC Invests $307,000 in Advance Auto Parts, Inc. (NYSE:AAP)

Counterpoint Mutual Funds LLC purchased a new position in Advance Auto Parts, Inc. (NYSE:AAP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,496 shares of the company’s stock, valued at approximately $307,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. 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 worth $277,000 after buying an additional 221 shares during the period. Yousif Capital Management LLC increased its holdings in Advance Auto Parts by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company’s stock worth $1,242,000 after purchasing an additional 281 shares during the period. Ingalls & Snyder LLC increased its holdings in Advance Auto Parts by 5.0% during the 4th quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company’s stock worth $316,000 after purchasing an additional 317 shares during the period. Versant Capital Management Inc increased its holdings in Advance Auto Parts by 207.4% during the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $26,000 after purchasing an additional 365 shares during the period. Finally, KBC Group NV increased its holdings in Advance Auto Parts by 29.1% during the 3rd quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after purchasing an additional 394 shares during the period. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Advance Auto Parts

In related news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $34.15 per share, with a total value of $499,956.00. Following the completion of the acquisition, the director now owns 34,070 shares in the company, valued at $1,163,490.50. This trade represents a 75.35 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Shane M. Okelly purchased 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $36.79 per share, with a total value of $55,185.00. Following the acquisition, the chief executive officer now 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 disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Advance Auto Parts Stock Performance

NYSE AAP opened at $37.71 on Wednesday. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 51.66, a PEG ratio of 1.98 and a beta of 1.27. Advance Auto Parts, Inc. has a twelve month low of $33.08 and a twelve month high of $88.56. 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 of $43.63 and a 200 day moving average of $42.04.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. Advance Auto Parts’s payout ratio is currently -17.86%.

Analyst Upgrades and Downgrades

AAP has been the topic of several research reports. Evercore ISI reduced their price objective on Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating on the stock in a report on Tuesday, March 11th. Truist Financial reduced their price target 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. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research report on Monday, March 3rd. Barclays reduced their price target on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Finally, Citigroup reduced their price target on 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. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and an average price target of $45.13.

Advance Auto Parts Company 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.