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

Counterpoint Mutual Funds LLC bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,496 shares of the company’s stock, valued at approximately $307,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in Advance Auto Parts by 207.4% in 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 period. Allworth Financial LP raised its stake in 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 in the last quarter. Vision Financial Markets LLC acquired a new stake in Advance Auto Parts in the fourth quarter valued at $42,000. KBC Group NV raised its stake in Advance Auto Parts by 29.1% in the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock valued at $68,000 after buying an additional 394 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Advance Auto Parts by 198.3% in the fourth quarter. GAMMA Investing LLC now owns 1,575 shares of the company’s stock valued at $74,000 after buying an additional 1,047 shares in the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

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 stock in a transaction on Thursday, March 6th. The shares were bought at an average price 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shane M. Okelly acquired 1,500 shares of the stock in a transaction 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 acquisition, the chief executive officer now directly owns 183,121 shares in the company, valued at $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 owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore ISI cut their price target on Advance Auto Parts from $37.00 to $35.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. Citigroup cut their price target on 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. Wells Fargo & Company raised their price target on Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Truist Financial cut their target price on Advance Auto Parts from $39.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, Barclays cut their target price on Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $45.13.

Advance Auto Parts Stock Performance

NYSE AAP opened at $37.71 on Wednesday. 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 52-week low of $33.08 and a 52-week high of $88.56. The business’s 50-day moving average price is $43.63 and its 200 day moving average price is $42.04. The firm has a market cap of $2.25 billion, a P/E ratio of 51.66, a P/E/G ratio of 1.98 and a beta of 1.27.

Advance Auto Parts Announces Dividend

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

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.