7,983 Shares in Advance Auto Parts, Inc. $AAP Acquired by McElhenny Sheffield Capital Management LLC

Key Points

• McElhenny Sheffield Capital Management LLC acquired 7,983 shares of Advance Auto Parts, Inc., valued at approximately $371,000, during the 2nd quarter.
• A number of analysts have revised their price targets for Advance Auto Parts, with Morgan Stanley raising it from $55 to $60 while others set targets between $46 and $65.
• Advance Auto Parts recently announced a quarterly dividend of $0.25, equating to an annualized yield of 2.0%, set to be paid on October 24th.

McElhenny Sheffield Capital Management LLC acquired a new position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,983 shares of the company's stock, valued at approximately $371,000.

Several other institutional investors also recently modified their holdings of the stock. Gainplan LLC bought a new position in shares of Advance Auto Parts in the second quarter worth approximately $700,000. REAP Financial Group LLC bought a new position in Advance Auto Parts during the second quarter valued at approximately $26,000. Friedenthal Financial bought a new position in Advance Auto Parts during the second quarter valued at approximately $869,000. TriaGen Wealth Management LLC bought a new position in Advance Auto Parts during the second quarter valued at approximately $506,000. Finally, KLP Kapitalforvaltning AS grew its position in Advance Auto Parts by 2.5% during the second quarter. KLP Kapitalforvaltning AS now owns 12,500 shares of the company's stock valued at $581,000 after acquiring an additional 300 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley increased their price target on shares of Advance Auto Parts from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Friday, September 12th. DA Davidson set a $65.00 price target on shares of Advance Auto Parts in a research report on Thursday, August 14th. Wall Street Zen upgraded shares of Advance Auto Parts from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. The Goldman Sachs Group cut shares of Advance Auto Parts from a "neutral" rating to a "sell" rating and reduced their price target for the company from $48.00 to $46.00 in a research report on Tuesday, June 24th. Finally, Evercore ISI increased 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 research report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $52.03.

Advance Auto Parts Stock Down 4.4%

Shares of Advance Auto Parts stock opened at $50.25 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $70.00. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -7.89 and a beta of 1.08. The company's 50 day moving average price is $59.25 and its 200-day moving average price is $49.45.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter last year, the business earned $0.75 earnings per share. The business's revenue was down 7.7% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors 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 dividend on an annualized basis and a yield of 2.0%. Advance Auto Parts's dividend payout ratio (DPR) is presently -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.

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