Arrowstreet Capital Limited Partnership Acquires Shares of 173,023 Advance Auto Parts, Inc. $AAP

Arrowstreet Capital Limited Partnership bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the second quarter, Holdings Channel reports. The institutional investor bought 173,023 shares of the company’s stock, valued at approximately $8,044,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pzena Investment Management LLC increased its stake in Advance Auto Parts by 1.9% in the 2nd quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company’s stock valued at $204,322,000 after purchasing an additional 82,456 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Advance Auto Parts by 3.0% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,552,475 shares of the company’s stock valued at $139,293,000 after purchasing an additional 102,921 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Advance Auto Parts by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company’s stock valued at $107,500,000 after buying an additional 13,412 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Advance Auto Parts by 48.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,416,636 shares of the company’s stock worth $65,867,000 after buying an additional 461,761 shares during the last quarter. Finally, Estuary Capital Management LP raised its stake in shares of Advance Auto Parts by 31.7% during the 1st quarter. Estuary Capital Management LP now owns 1,258,270 shares of the company’s stock worth $49,337,000 after buying an additional 303,153 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAP. Wolfe Research initiated coverage on shares of Advance Auto Parts in a report on Thursday, September 18th. They set a “peer perform” rating for the company. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research report on Friday, October 31st. Mizuho lifted their price objective on Advance Auto Parts from $44.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Argus reaffirmed a “hold” rating and issued a $60.52 target price on shares of Advance Auto Parts in a research note on Friday, August 29th. Finally, Wall Street Zen raised Advance Auto Parts from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Reduce” and a consensus target price of $51.78.

Insider Transactions at Advance Auto Parts

In related news, EVP Kristen L. Soler sold 7,662 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $51.00, for a total transaction of $390,762.00. Following the completion of the transaction, the executive vice president owned 23,165 shares of the company’s stock, valued at approximately $1,181,415. This represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $49.14 on Thursday. The company has a market cap of $2.95 billion, a P/E ratio of -7.81 and a beta of 1.13. The business has a fifty day simple moving average of $52.16 and a 200-day simple moving average of $54.94. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $70.00. The company has a quick ratio of 0.88, a current ratio of 1.73 and a debt-to-equity ratio of 1.55.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.18. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. Advance Auto Parts had a positive return on equity of 0.64% and a negative net margin of 4.37%.The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 9th. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -15.90%.

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.