Advance Auto Parts, Inc. $AAP Shares Sold by Comerica Bank

Comerica Bank decreased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 10.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,149 shares of the company's stock after selling 6,099 shares during the period. Comerica Bank owned approximately 0.09% of Advance Auto Parts worth $2,006,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pzena Investment Management LLC increased its position in Advance Auto Parts by 31.8% during the 1st 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 period. Fuller & Thaler Asset Management Inc. increased its position in Advance Auto Parts by 3.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,552,475 shares of the company's stock worth $139,293,000 after purchasing an additional 102,921 shares during the period. Dimensional Fund Advisors LP increased its position in Advance Auto Parts by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company's stock worth $107,500,000 after purchasing an additional 13,412 shares during the period. Eminence Capital LP acquired a new position in Advance Auto Parts during the 4th quarter worth approximately $87,214,000. Finally, Federated Hermes Inc. increased its position in Advance Auto Parts by 302.5% during the 1st 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 period. Institutional investors and hedge funds own 88.70% of the company's stock.

Insider Buying and Selling at Advance Auto Parts

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Bank of America boosted their target price on Advance Auto Parts from $33.00 to $39.00 and gave the stock an "underperform" rating in a research report on Friday, May 23rd. Roth Capital set a $50.00 price target on Advance Auto Parts and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. BMO Capital Markets reissued a "market perform" rating and set a $50.00 price target (up previously from $40.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Redburn Atlantic raised Advance Auto Parts from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $28.00 to $45.00 in a research note on Tuesday, June 3rd. Finally, UBS Group set a $65.00 price target on Advance Auto Parts and gave the stock a "neutral" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $51.78.

Advance Auto Parts Price Performance

AAP stock opened at $59.65 on Wednesday. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $70.00. 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's 50 day moving average price is $57.27 and its 200 day moving average price is $45.56. The firm has a market cap of $3.58 billion, a P/E ratio of -9.36 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results 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 firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the company earned $0.75 EPS. Advance Auto Parts'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. On average, sell-side analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

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

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