Bastion Asset Management Inc. Takes Position in Advance Auto Parts, Inc. (NYSE:AAP)

Bastion Asset Management Inc. purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 81,177 shares of the company's stock, valued at approximately $3,559,000. Advance Auto Parts makes up approximately 2.3% of Bastion Asset Management Inc.'s portfolio, making the stock its 16th largest holding. Bastion Asset Management Inc. owned approximately 0.14% of Advance Auto Parts as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AAP. Versant Capital Management Inc increased its holdings 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 purchasing an additional 365 shares during the period. GAMMA Investing LLC grew its position in 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 buying an additional 1,047 shares in the last quarter. First Hawaiian Bank increased its stake in Advance Auto Parts by 14.4% during the 4th quarter. First Hawaiian Bank now owns 19,692 shares of the company's stock worth $931,000 after acquiring an additional 2,474 shares during the period. Moody National Bank Trust Division acquired a new position in Advance Auto Parts in the 4th quarter valued at $1,196,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Advance Auto Parts during the 4th quarter valued at $218,000. 88.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AAP has been the subject of a number of analyst reports. Barclays dropped 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 note on Thursday, January 9th. Wedbush reaffirmed an "outperform" rating and set a $55.00 price target on shares of Advance Auto Parts in a report on Monday, March 3rd. Royal Bank of Canada lowered their price objective on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Truist Financial reduced their target price on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Finally, BMO Capital Markets lowered their price target on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating for the company in a 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 stock. According to MarketBeat, Advance Auto Parts has an average rating of "Hold" and an average target price of $45.13.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, CEO Shane M. Okelly acquired 1,500 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $36.79 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the acquisition, the director now owns 34,070 shares of the company's stock, valued at $1,163,490.50. This 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 corporate insiders.

Advance Auto Parts Trading Down 1.0 %

Shares of AAP stock traded down $0.31 on Friday, hitting $31.08. The company had a trading volume of 911,970 shares, compared to its average volume of 2,244,672. The stock's 50-day moving average is $34.69 and its two-hundred day moving average is $40.44. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $77.49. The firm has a market cap of $1.86 billion, a P/E ratio of 42.58, a P/E/G ratio of 1.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, April 11th. Advance Auto Parts's dividend payout ratio is currently -17.86%.

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.