RBF Capital LLC Buys New Stake in Advance Auto Parts, Inc. (NYSE:AAP)

RBF Capital LLC acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 85,000 shares of the company's stock, valued at approximately $4,020,000. RBF Capital LLC owned 0.14% of Advance Auto Parts as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Advance Auto Parts by 34.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock worth $316,160,000 after purchasing an additional 1,706,328 shares in the last quarter. Dark Forest Capital Management LP boosted its position in shares of Advance Auto Parts by 12.3% during the 4th quarter. Dark Forest Capital Management LP now owns 9,355 shares of the company's stock worth $442,000 after acquiring an additional 1,025 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Advance Auto Parts in the 4th quarter valued at about $407,000. Stifel Financial Corp raised its position in shares of Advance Auto Parts by 27.3% during the 4th quarter. Stifel Financial Corp now owns 13,760 shares of the company's stock worth $651,000 after acquiring an additional 2,955 shares in the last quarter. Finally, Capital International Inc. CA purchased a new stake in Advance Auto Parts during the fourth quarter worth approximately $405,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Performance

NYSE:AAP traded down $0.55 during midday trading on Monday, reaching $32.33. The stock had a trading volume of 362,625 shares, compared to its average volume of 2,301,528. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a market cap of $1.93 billion, a P/E ratio of 44.27, a P/E/G ratio of 1.98 and a beta of 1.07. The firm has a fifty day simple moving average of $36.22 and a two-hundred day simple moving average of $40.89. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $77.49.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, April 11th. Advance Auto Parts's payout ratio is -17.86%.

Insider Transactions at Advance Auto Parts

In other news, CEO Shane M. Okelly purchased 1,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price 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 approximately $6,737,021.59. The trade was a 0.83 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of the company's stock in a transaction dated 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 transaction, the director now owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This represents a 75.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AAP shares. BMO Capital Markets cut their price objective on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. Truist Financial cut 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. Evercore ISI decreased their price objective on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. Citigroup cut their target price on Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company upped their target price on Advance Auto Parts from $40.00 to $45.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. One 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's stock. According to MarketBeat.com, the stock currently 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.