10,890 Shares in Advance Auto Parts, Inc. $AAP Acquired by TriaGen Wealth Management LLC

Key Points

• TriaGen Wealth Management LLC purchased 10,890 shares of Advance Auto Parts, valued at approximately $506,000, in the second quarter, indicating renewed interest in the company from institutional investors.
• Advance Auto Parts recently reported $0.69 EPS for the quarter, exceeding estimates, but revenue declined by 7.7% year-over-year to $2.01 billion.
• The company declared a quarterly dividend of $0.25 per share, representing a 1.7% yield, with the payout scheduled for October 24th.

TriaGen Wealth Management LLC bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,890 shares of the company's stock, valued at approximately $506,000.

Other large investors also recently bought and sold shares of the company. Pzena Investment Management LLC boosted its holdings in shares of Advance Auto Parts by 31.8% in the 1st quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company's stock valued at $169,093,000 after purchasing an additional 1,041,611 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Advance Auto Parts by 3.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,552,475 shares of the company's stock worth $139,293,000 after buying an additional 102,921 shares during the period. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 13,412 shares during the last quarter. Federated Hermes Inc. grew its position in Advance Auto Parts by 302.5% during the first quarter. Federated Hermes Inc. now owns 1,358,764 shares of the company's stock valued at $53,277,000 after acquiring an additional 1,021,181 shares during the period. Finally, Estuary Capital Management LP grew its position in Advance Auto Parts by 31.7% during the first quarter. Estuary Capital Management LP now owns 1,258,270 shares of the company's stock valued at $49,337,000 after acquiring an additional 303,153 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on AAP. DA Davidson set a $65.00 price objective on Advance Auto Parts in a report on Thursday, August 14th. Weiss Ratings reissued a "sell (d)" rating on shares of Advance Auto Parts in a research report on Saturday, September 27th. Evercore ISI raised their price target on shares of Advance Auto Parts from $56.00 to $58.00 and gave the company an "in-line" rating in a report on Tuesday, August 12th. Mizuho boosted their price objective on shares of Advance Auto Parts from $44.00 to $54.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Finally, Argus reissued a "hold" rating and issued a $60.52 price objective on shares of Advance Auto Parts in a research report on Friday, August 29th. One investment analyst has rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Advance Auto Parts presently has an average rating of "Reduce" and a consensus target price of $52.03.

Advance Auto Parts Stock Down 4.9%

Shares of NYSE:AAP opened at $58.35 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $70.00. The company has a 50 day moving average of $59.37 and a two-hundred day moving average of $49.30. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of -9.16 and a beta of 1.08.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. The business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.97 billion. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. As a group, analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. Advance Auto Parts's dividend payout ratio is presently -15.70%.

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.

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