Raymond James Financial Inc. Buys 24,342 Shares of Advance Auto Parts, Inc. $AAP

Key Points

• Raymond James Financial Inc. has increased its stake in Advance Auto Parts by 13.0%, owning 210,886 shares valued at approximately $8.27 million as of their latest SEC filing.
• Advance Auto Parts recently announced a quarterly dividend of $0.25 per share, with an ex-dividend date set for October 10th, offering a 1.6% yield.
• The company reported earnings of $0.69 per share for the last quarter, exceeding analyst estimates, although its quarterly revenue decreased by 7.7% compared to the previous year.

Raymond James Financial Inc. grew its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 210,886 shares of the company's stock after buying an additional 24,342 shares during the quarter. Raymond James Financial Inc. owned approximately 0.35% of Advance Auto Parts worth $8,269,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC lifted its holdings 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 during the period. Financial Management Professionals Inc. purchased a new stake in Advance Auto Parts in the 1st quarter worth approximately $49,000. Exchange Traded Concepts LLC lifted its holdings in Advance Auto Parts by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock worth $91,000 after buying an additional 2,140 shares during the period. Blue Trust Inc. lifted its holdings in Advance Auto Parts by 69.8% in the 1st quarter. Blue Trust Inc. now owns 2,842 shares of the company's stock worth $111,000 after buying an additional 1,168 shares during the period. Finally, Central Pacific Bank Trust Division lifted its stake in shares of 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 valued at $129,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

Insider Buying and Selling at Advance Auto Parts

In other news, SVP Jason Hand sold 948 shares of the business's stock in a transaction on 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 in the company, valued at $479,183.52. The trade was a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on AAP shares. Wall Street Zen upgraded Advance Auto Parts from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. DA Davidson set a $65.00 price target on shares of Advance Auto Parts in a research report on Thursday, August 14th. Roth Capital set a $50.00 price target on shares of Advance Auto Parts and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Morgan Stanley lifted their price target on shares of Advance Auto Parts from $48.00 to $55.00 and gave the company an "equal weight" rating in a research report on Friday, August 15th. Finally, Argus reissued a "hold" rating and set a $60.52 price target on shares of Advance Auto Parts in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Advance Auto Parts has a consensus rating of "Reduce" and an average price target of $51.78.

Advance Auto Parts Stock Up 0.3%

NYSE:AAP traded up $0.19 during trading hours on Friday, reaching $60.25. 485,347 shares of the company traded hands, compared to its average volume of 2,590,278. The business's 50-day moving average price is $57.79 and its two-hundred day moving average price is $45.73. The stock has a market capitalization of $3.61 billion, a P/E ratio of -9.46 and a beta of 1.06. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year 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.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm'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. Analysts predict that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

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