Bastion Asset Management Inc. Invests $3.56 Million in Advance Auto Parts, Inc. (NYSE:AAP)

Bastion Asset Management Inc. 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 81,177 shares of the company’s stock, valued at approximately $3,559,000. Advance Auto Parts accounts for 2.3% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 16th largest holding. Bastion Asset Management Inc. owned about 0.14% of Advance Auto Parts at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc boosted its stake in shares of Advance Auto Parts by 207.4% in the 4th quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $26,000 after buying an additional 365 shares during the period. Allworth Financial LP lifted its holdings in Advance Auto Parts by 1,543.4% during the 4th quarter. Allworth Financial LP now owns 871 shares of the company’s stock worth $40,000 after buying an additional 818 shares during the last quarter. Vision Financial Markets LLC acquired a new position in Advance Auto Parts in the fourth quarter valued at approximately $42,000. Advisory Services Network LLC purchased a new position in shares of Advance Auto Parts in the 4th quarter valued at $46,000. Finally, GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 1,047 shares during the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research report on Monday, March 3rd. Wells Fargo & Company increased 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. BMO Capital Markets reduced their price objective 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. Barclays cut their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Finally, Royal Bank of Canada lowered 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 report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.13.

Insider Buying and Selling

In other news, Director Eugene I. Lee, Jr. bought 14,640 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost 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 $1,163,490.50. This represents a 75.35 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, 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 cost of $36.79 per share, with a total value of $55,185.00. Following the transaction, the chief executive officer now owns 183,121 shares of the company’s stock, valued at $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.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $33.37 on Friday. The stock has a fifty day moving average price of $35.10 and a 200 day moving average price of $40.68. 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 52 week low of $28.89 and a 52 week high of $77.49. The firm has a market capitalization of $2.00 billion, a P/E ratio of 45.71, a PEG ratio of 1.98 and a beta of 1.07.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.00 annualized dividend and a dividend yield of 3.00%. Advance Auto Parts’s 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.