Dimensional Fund Advisors LP Has $107.50 Million Stake in Advance Auto Parts, Inc. $AAP

Key Points

• Dimensional Fund Advisors LP increased its stake in Advance Auto Parts by 0.5%, holding over 2.7 million shares valued at approximately $107.5 million as of its latest SEC filing.
• Several institutional investors have significantly increased their positions in Advance Auto Parts, with 88.75% of the stock currently owned by such entities.
• The company recently reported quarterly earnings of $0.69 per share, surpassing analysts' expectations, alongside declaring a quarterly dividend of $0.25 per share.

Dimensional Fund Advisors LP boosted its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,741,701 shares of the company's stock after buying an additional 13,412 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.58% of Advance Auto Parts worth $107,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division lifted its position in Advance Auto Parts by 10.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock worth $129,000 after buying an additional 300 shares in the last quarter. Sovran Advisors LLC lifted its position in Advance Auto Parts by 4.3% in the 1st quarter. Sovran Advisors LLC now owns 7,822 shares of the company's stock worth $307,000 after buying an additional 322 shares in the last quarter. Studio Investment Management LLC lifted its position in Advance Auto Parts by 6.7% in the 4th quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock worth $263,000 after buying an additional 350 shares in the last quarter. Investors Research Corp lifted its position in Advance Auto Parts by 7.1% in the 1st quarter. Investors Research Corp now owns 5,625 shares of the company's stock worth $221,000 after buying an additional 375 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in Advance Auto Parts by 189.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock worth $28,000 after buying an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AAP shares. Mizuho increased their target price on shares of Advance Auto Parts from $38.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Redburn Partners upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price target on the stock in a report on Tuesday, June 3rd. The Goldman Sachs Group downgraded 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. Bank of America raised 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. Finally, Roth Capital set a $50.00 price target on shares of Advance Auto Parts and gave the company a "neutral" rating in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $50.80.

Insider Buying and Selling

In related news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction on Friday, June 20th. The shares were sold at an average price of $48.52, for a total value of $45,996.96. Following the transaction, the senior vice president owned 9,876 shares in the company, valued at $479,183.52. This trade represents a 8.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.67% of the stock is owned by company insiders.

Advance Auto Parts Stock Performance

AAP traded up $0.97 during trading on Wednesday, hitting $61.16. The stock had a trading volume of 412,673 shares, compared to its average volume of 2,641,873. The firm has a market cap of $3.67 billion, a PE ratio of -9.59 and a beta of 1.05. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The company has a 50 day simple moving average of $56.15 and a 200-day simple moving average of $45.10.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The business's quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

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

Advance Auto Parts Company 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.