Advance Auto Parts, Inc. $AAP Shares Sold by Boston Partners

Boston Partners reduced its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 24.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,346 shares of the company's stock after selling 5,643 shares during the period. Boston Partners' holdings in Advance Auto Parts were worth $680,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division lifted its holdings in Advance Auto Parts by 10.0% during the first 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 in the last quarter. Sovran Advisors LLC raised its position in shares of Advance Auto Parts by 4.3% in the first quarter. Sovran Advisors LLC now owns 7,822 shares of the company's stock valued at $307,000 after buying an additional 322 shares during the last quarter. Studio Investment Management LLC raised its position in shares of Advance Auto Parts by 6.7% in the fourth quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock valued at $263,000 after buying an additional 350 shares during the last quarter. Investors Research Corp raised its position in shares of Advance Auto Parts by 7.1% in the first quarter. Investors Research Corp now owns 5,625 shares of the company's stock valued at $221,000 after buying an additional 375 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its position in shares of Advance Auto Parts by 189.0% in the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after buying an additional 465 shares during the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Trading Up 4.2%

AAP stock traded up $2.3150 during mid-day trading on Friday, hitting $57.9150. 801,945 shares of the company were exchanged, compared to its average volume of 2,665,730. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $3.47 billion, a P/E ratio of -9.09 and a beta of 1.05. The business has a fifty day simple moving average of $55.50 and a 200-day simple moving average of $44.90. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $70.00.

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 for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. On average, equities research analysts predict that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

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

Insider Buying and Selling

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $48.52, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AAP has been the subject of a number of recent research reports. Redburn Partners upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 target price for the company in a research report on Tuesday, June 3rd. Roth Capital set a $50.00 target price on shares of Advance Auto Parts and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Raymond James Financial increased their target price on shares of Advance Auto Parts to $49.17 and gave the company a "hold" rating in a research report on Monday, May 26th. Cowen restated a "hold" rating on shares of Advance Auto Parts in a research report on Friday, May 23rd. Finally, Citigroup set a $60.00 price objective on shares of Advance Auto Parts in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus 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.