Nuveen LLC Takes Position in Advance Auto Parts, Inc. $AAP

Key Points

• Nuveen LLC purchased 186,179 shares of Advance Auto Parts, Inc., valued at approximately $7.3 million, marking their entry into the company's stock during the first quarter.
• Advance Auto Parts recently declared a quarterly dividend of $0.25 per share, with an annual yield of 1.7%, to be paid on October 24th.
• Analysts have set a consensus price target of $50.80 for Advance Auto Parts, with mixed ratings, including one Buy, 17 Holds, and two Sells.

Nuveen LLC purchased a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 186,179 shares of the company's stock, valued at approximately $7,300,000. Nuveen LLC owned 0.31% of Advance Auto Parts as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AMG National Trust Bank grew its stake in shares of Advance Auto Parts by 38.1% in the 1st quarter. AMG National Trust Bank now owns 43,615 shares of the company's stock valued at $1,710,000 after purchasing an additional 12,040 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Advance Auto Parts by 455.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company's stock valued at $2,305,000 after purchasing an additional 48,198 shares during the period. Invenomic Capital Management LP grew its stake in shares of Advance Auto Parts by 83.9% in the 4th quarter. Invenomic Capital Management LP now owns 157,644 shares of the company's stock valued at $7,455,000 after purchasing an additional 71,928 shares during the period. Principal Financial Group Inc. grew its stake in shares of Advance Auto Parts by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 294,537 shares of the company's stock valued at $11,549,000 after purchasing an additional 6,805 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Advance Auto Parts by 12,026.5% in the 1st quarter. GAMMA Investing LLC now owns 190,992 shares of the company's stock valued at $7,489,000 after purchasing an additional 189,417 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Jason Hand sold 948 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $48.52, for a total transaction of $45,996.96. Following the completion of the transaction, the senior vice president directly owned 9,876 shares in the company, valued at $479,183.52. This represents a 8.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

Advance Auto Parts Trading Up 1.1%

AAP stock traded up $0.69 during trading on Friday, hitting $61.21. The company had a trading volume of 420,268 shares, compared to its average volume of 2,623,022. 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 firm has a 50-day moving average price of $56.64 and a 200-day moving average price of $45.31. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -9.61 and a beta of 1.05.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released 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. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The business'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. As a group, analysts predict that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Advance Auto Parts's dividend payout ratio (DPR) is currently -15.70%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AAP shares. Evercore ISI upped their price objective on 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. Cowen reiterated a "hold" rating on shares of Advance Auto Parts in a research note on Friday, May 23rd. Citigroup set a $60.00 price objective on Advance Auto Parts in a research note on Thursday, August 14th. Mizuho upped their price objective on Advance Auto Parts from $44.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Raymond James Financial lifted their target price on shares of Advance Auto Parts to $49.17 and gave the company a "hold" rating in a research note on Monday, May 26th. One investment analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $51.78.

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.