Fuller & Thaler Asset Management Inc. Raises Stock Holdings in Advance Auto Parts, Inc. $AAP

Key Points

• Fuller & Thaler Asset Management Inc. increased its holdings in Advance Auto Parts by 3.0%, owning approximately 5.94% of the company, valued at $139.29 million.
• Advance Auto Parts announced a quarterly dividend of $0.25 per share, with an annualized yield of 1.8%, and the ex-dividend date set for October 10th.
• The company reported $0.69 EPS for the last quarter, surpassing expectations, despite a year-over-year revenue decline of 7.7%.

Fuller & Thaler Asset Management Inc. lifted its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,552,475 shares of the company's stock after purchasing an additional 102,921 shares during the period. Fuller & Thaler Asset Management Inc. owned about 5.94% of Advance Auto Parts worth $139,293,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in AAP. Eminence Capital LP bought a new position in shares of Advance Auto Parts in the fourth quarter worth approximately $87,214,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Advance Auto Parts by 34.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock worth $316,160,000 after purchasing an additional 1,706,328 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of Advance Auto Parts by 31.8% in the first quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company's stock worth $169,093,000 after purchasing an additional 1,041,611 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Advance Auto Parts by 302.5% in the first quarter. Federated Hermes Inc. now owns 1,358,764 shares of the company's stock worth $53,277,000 after purchasing an additional 1,021,181 shares during the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in shares of Advance Auto Parts in the fourth quarter worth approximately $17,127,000. Institutional investors own 88.75% of the company's stock.

Insider Activity

In other news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $48.52, for a total value of $45,996.96. Following the completion of the transaction, the senior vice president owned 9,876 shares of the company's stock, valued at $479,183.52. The trade was a 8.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Advance Auto Parts Stock Up 4.1%

Shares of AAP traded up $2.2650 during trading hours on Friday, hitting $57.8650. The company had a trading volume of 1,314,515 shares, compared to its average volume of 2,669,143. The firm has a fifty day moving average price of $55.50 and a 200-day moving average price of $44.90. 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 stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -9.08 and a beta of 1.05. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $70.00.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly 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. 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%.Advance Auto Parts's quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. On average, equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AAP. Truist Financial raised their target price on shares of Advance Auto Parts from $51.00 to $53.00 and gave the stock a "hold" rating in a report on Friday, August 15th. The Goldman Sachs Group cut shares of Advance Auto Parts from a "neutral" rating to a "sell" rating and cut their price target for the company from $48.00 to $46.00 in a report on Tuesday, June 24th. Wells Fargo & Company lifted their price target on shares of Advance Auto Parts from $45.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, August 15th. Cowen reiterated a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 23rd. Finally, Bank of America lifted their price target on shares of Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Advance Auto Parts currently has an average rating of "Reduce" and an average price target of $51.01.

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.