Financiere des Professionnels Fonds d investissement inc. Invests $229,000 in Advance Auto Parts, Inc. $AAP

Key Points

• Financiere des Professionnels Fonds d'investissement inc. acquired 4,932 shares of Advance Auto Parts, valued at approximately $229,000, indicating institutional interest in the stock.
• Advance Auto Parts reported a quarterly earnings per share of $0.69, surpassing analysts' expectations, but experienced a 7.7% decline in revenue year-over-year.
• The company has declared a quarterly dividend of $0.25, reflecting a 1.7% yield with an ex-dividend date of October 10th.

Financiere des Professionnels Fonds d investissement inc. bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,932 shares of the company's stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AMG National Trust Bank increased its position in shares of Advance Auto Parts by 38.1% during the first quarter. AMG National Trust Bank now owns 43,615 shares of the company's stock valued at $1,710,000 after acquiring an additional 12,040 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Advance Auto Parts by 13.0% in the first quarter. Raymond James Financial Inc. now owns 210,886 shares of the company's stock worth $8,269,000 after acquiring an additional 24,342 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 worth $107,500,000 after acquiring an additional 13,412 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Advance Auto Parts by 455.0% during the first quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company's stock worth $2,305,000 after purchasing an additional 48,198 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Advance Auto Parts by 2.4% during the first quarter. Principal Financial Group Inc. now owns 294,537 shares of the company's stock worth $11,549,000 after purchasing an additional 6,805 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAP has been the topic of several recent research reports. Cowen reissued a "hold" rating on shares of Advance Auto Parts in a research note on Friday, May 23rd. Argus reaffirmed a "hold" rating and set a $60.52 price objective on shares of Advance Auto Parts in a research note on Friday, August 29th. Mizuho upped their price target on Advance Auto Parts from $44.00 to $54.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Redburn Atlantic upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and increased their target price for the company from $28.00 to $45.00 in a research note on Tuesday, June 3rd. Finally, Roth Capital set a $50.00 price objective on Advance Auto Parts and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a Buy rating, nineteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $52.03.

Advance Auto Parts Trading Down 2.6%

Shares of NYSE:AAP traded down $1.54 during midday trading on Friday, reaching $58.58. The company had a trading volume of 2,549,057 shares, compared to its average volume of 1,386,789. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $70.00. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -9.20 and a beta of 1.06. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The company has a fifty day simple moving average of $59.55 and a two-hundred day simple moving average of $47.38.

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 for the quarter, topping the consensus estimate of $0.59 by $0.10. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.97 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.The company's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Research analysts predict that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, October 10th. Advance Auto Parts's dividend payout ratio (DPR) is currently -15.70%.

Advance Auto Parts 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.