Blueshift Asset Management LLC Increases Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Blueshift Asset Management LLC boosted its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 107.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,717 shares of the company’s stock after purchasing an additional 7,623 shares during the quarter. Blueshift Asset Management LLC’s holdings in Advance Auto Parts were worth $696,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AAP. Boston Partners bought a new stake in shares of Advance Auto Parts in the 4th quarter worth about $1,087,000. Thrivent Financial for Lutherans increased its holdings in shares of Advance Auto Parts by 2,662.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,293,205 shares of the company’s stock worth $61,156,000 after buying an additional 1,246,384 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Advance Auto Parts in the 4th quarter worth about $212,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Advance Auto Parts in the 4th quarter worth about $307,000. Finally, Corient Private Wealth LLC bought a new stake in shares of Advance Auto Parts in the 4th quarter worth about $347,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the 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 trade represents a 75.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shane M. Okelly purchased 1,500 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $36.79 per share, with a total value of $55,185.00. Following the transaction, the chief executive officer now directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AAP shares. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a report on Monday, March 3rd. Citigroup reduced 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. Wells Fargo & Company upped their price target on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Barclays cut their price target on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Finally, BMO Capital Markets cut their price target 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. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Advance Auto Parts presently has an average rating of “Hold” and an average target price of $45.13.

Advance Auto Parts Price Performance

Shares of AAP stock opened at $36.95 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The company has a market capitalization of $2.21 billion, a P/E ratio of 50.62, a P/E/G ratio of 1.98 and a beta of 1.27. The company’s 50-day simple moving average is $43.46 and its two-hundred day simple moving average is $42.00. Advance Auto Parts, Inc. has a one year low of $33.08 and a one year high of $88.56.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.71%. Advance Auto Parts’s dividend payout ratio is currently -17.86%.

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.