Legion Partners Asset Management LLC Has $38,000 Position in Advance Auto Parts, Inc. (NYSE:AAP)

Legion Partners Asset Management LLC trimmed its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 800,750 shares of the company's stock after selling 22,000 shares during the quarter. Advance Auto Parts comprises about 0.0% of Legion Partners Asset Management LLC's investment portfolio, making the stock its 7th largest holding. Legion Partners Asset Management LLC owned approximately 1.34% of Advance Auto Parts worth $38,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC increased its holdings in Advance Auto Parts by 198.3% in the 4th 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 during the period. Moody National Bank Trust Division bought a new position in Advance Auto Parts in the 4th quarter valued at about $1,196,000. Pallas Capital Advisors LLC bought a new position in Advance Auto Parts in the 4th quarter valued at about $218,000. Arkadios Wealth Advisors increased its holdings in Advance Auto Parts by 45.6% in the 4th quarter. Arkadios Wealth Advisors now owns 25,136 shares of the company's stock valued at $1,189,000 after buying an additional 7,867 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Advance Auto Parts by 58.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 19,689 shares of the company's stock valued at $931,000 after buying an additional 7,285 shares during the period. 88.75% of the stock is owned by institutional investors.

Advance Auto Parts Trading Up 1.7%

NYSE:AAP traded up $0.57 during mid-day trading on Friday, hitting $34.99. 2,399,325 shares of the company's stock were exchanged, compared to its average volume of 2,280,687. The company has a 50 day simple moving average of $34.44 and a 200-day simple moving average of $40.30. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $74.59. The firm has a market capitalization of $2.09 billion, a P/E ratio of 47.93, a PEG ratio of 1.98 and a beta of 0.93.

Insider Buying and Selling

In other news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $34.15 per share, for a total transaction of $499,956.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shane M. Okelly purchased 1,500 shares of the stock in a transaction 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 acquisition, the chief executive officer now owns 183,121 shares in the company, 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. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on AAP. Evercore ISI decreased their target price on shares of 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. Citigroup decreased their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Truist Financial reduced their price target on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Wedbush restated an "outperform" rating and issued a $55.00 price target on shares of Advance Auto Parts in a research note on Monday, March 3rd. Finally, Royal Bank of Canada reduced their price target on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Advance Auto Parts presently has a consensus rating of "Hold" and a consensus target price 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.