15,049 Shares in Advance Auto Parts, Inc. $AAP Bought by Gainplan LLC

Key Points

• Gainplan LLC acquired a new position in Advance Auto Parts, purchasing 15,049 shares valued at approximately $700,000 during the 2nd quarter.
• Advance Auto Parts reported earnings of $0.69 per share for its recent quarter, exceeding analysts' expectations of $0.59, despite a 7.7% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.25 payable on October 24th, representing an annualized dividend yield of 1.8%.

Gainplan LLC acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,049 shares of the company's stock, valued at approximately $700,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. REAP Financial Group LLC acquired a new position in Advance Auto Parts during the second quarter worth $26,000. Hexagon Capital Partners LLC increased its position in Advance Auto Parts by 189.0% during the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock worth $28,000 after buying an additional 465 shares during the last quarter. Parallel Advisors LLC increased its position in Advance Auto Parts by 355.8% during the second quarter. Parallel Advisors LLC now owns 939 shares of the company's stock worth $44,000 after buying an additional 733 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Advance Auto Parts by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock worth $91,000 after buying an additional 2,140 shares during the last quarter. Finally, Quarry LP increased its position in Advance Auto Parts by 688.6% during the first quarter. Quarry LP now owns 2,421 shares of the company's stock worth $95,000 after buying an additional 2,114 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Down 2.6%

Shares of AAP opened at $56.79 on Wednesday. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The company has a 50-day moving average price of $59.37 and a two-hundred day moving average price of $49.35. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -8.92 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The company had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. Advance Auto Parts's quarterly revenue was down 7.7% compared to the same quarter last year. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Equities analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be paid a $0.25 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. Advance Auto Parts's payout ratio is -15.70%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AAP. Argus reaffirmed a "hold" rating and issued a $60.52 price target on shares of Advance Auto Parts in a research report on Friday, August 29th. Morgan Stanley increased their target price on shares of Advance Auto Parts from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Friday, September 12th. Evercore ISI increased their target price on shares of Advance Auto Parts from $56.00 to $58.00 and gave the company an "in-line" rating in a research note on Tuesday, August 12th. Wells Fargo & Company raised their price target on shares of Advance Auto Parts from $45.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Friday, August 15th. Finally, Mizuho raised their price target 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. 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's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $52.03.

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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