Comerica Bank Sells 6,099 Shares of Advance Auto Parts, Inc. $AAP

Comerica Bank lessened its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 10.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,149 shares of the company's stock after selling 6,099 shares during the period. Comerica Bank owned about 0.09% of Advance Auto Parts worth $2,006,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AMG National Trust Bank lifted its stake in shares of Advance Auto Parts by 38.1% in the 1st quarter. AMG National Trust Bank now owns 43,615 shares of the company's stock valued at $1,710,000 after acquiring an additional 12,040 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Advance Auto Parts by 13.0% in the 1st quarter. Raymond James Financial Inc. now owns 210,886 shares of the company's stock valued at $8,269,000 after acquiring an additional 24,342 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Advance Auto Parts by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company's stock valued at $107,500,000 after acquiring an additional 13,412 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Advance Auto Parts by 455.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company's stock valued at $2,305,000 after acquiring an additional 48,198 shares during the last quarter. Finally, Invenomic Capital Management LP lifted its stake in shares of Advance Auto Parts by 83.9% in the 4th quarter. Invenomic Capital Management LP now owns 157,644 shares of the company's stock valued at $7,455,000 after acquiring an additional 71,928 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AAP shares. Redburn Partners raised Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 target price for the company in a research note on Tuesday, June 3rd. DA Davidson set a $65.00 price target on Advance Auto Parts in a report on Thursday, August 14th. UBS Group set a $65.00 price target on Advance Auto Parts and gave the company a "neutral" rating in a report on Tuesday, August 12th. Raymond James Financial boosted their price target on Advance Auto Parts to $49.17 and gave the company a "hold" rating in a report on Monday, May 26th. Finally, BMO Capital Markets restated a "market perform" rating and set a $50.00 price target (up previously from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. One analyst has rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $51.78.

Advance Auto Parts Stock Up 0.5%

Shares of AAP stock traded up $0.32 during midday trading on Friday, reaching $60.38. 880,122 shares of the stock were exchanged, compared to its average volume of 1,719,965. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $70.00. The company's 50 day moving average is $58.07 and its two-hundred day moving average is $45.86. 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 firm has a market cap of $3.62 billion, a PE ratio of -9.48 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.69 EPS for the quarter, topping 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 analysts' expectations of $1.97 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The company's quarterly 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, equities research analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, October 10th. Advance Auto Parts's dividend payout ratio (DPR) is currently -15.70%.

Insider Buying and Selling

In other 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 directly owned 9,876 shares of the company's stock, valued at $479,183.52. This represents a 8.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.67% of the company's stock.

About Advance Auto Parts

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.