American Century Companies Inc. Sells 502,612 Shares of Advance Auto Parts, Inc. $AAP

Key Points

• American Century Companies Inc. reduced its stake in Advance Auto Parts by 62.4%, selling 502,612 shares during the first quarter and now owns approximately 0.51% of the company.
• Advance Auto Parts reported $0.69 earnings per share for the quarter, exceeding expectations, with a revenue of $2.01 billion, though down 7.7% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 1.7%, to be paid on October 24th.

American Century Companies Inc. trimmed its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 62.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,226 shares of the company's stock after selling 502,612 shares during the period. American Century Companies Inc. owned approximately 0.51% of Advance Auto Parts worth $11,850,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hexagon Capital Partners LLC boosted its holdings in Advance Auto Parts by 189.0% during the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after acquiring an additional 465 shares during the period. Financial Management Professionals Inc. bought a new stake in Advance Auto Parts during the first quarter valued at about $49,000. Exchange Traded Concepts LLC boosted its holdings in Advance Auto Parts by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock valued at $91,000 after acquiring an additional 2,140 shares during the period. Blue Trust Inc. increased its holdings in shares of Advance Auto Parts by 69.8% during the 1st quarter. Blue Trust Inc. now owns 2,842 shares of the company's stock worth $111,000 after purchasing an additional 1,168 shares during the period. Finally, Central Pacific Bank Trust Division increased its holdings in shares of Advance Auto Parts by 10.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock worth $129,000 after purchasing an additional 300 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AAP has been the topic of several research reports. UBS Group set a $65.00 price objective on shares of Advance Auto Parts and gave the stock a "neutral" rating in a report on Tuesday, August 12th. BMO Capital Markets reissued a "market perform" rating and set a $50.00 price objective (up previously from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. Wall Street Zen raised shares of Advance Auto Parts from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Truist Financial boosted their price objective on Advance Auto Parts from $51.00 to $53.00 and gave the stock a "hold" rating in a report on Friday, August 15th. Finally, 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. One investment 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's stock. According to data from MarketBeat, Advance Auto Parts presently has a consensus rating of "Reduce" and a consensus target price of $51.78.

Insider Activity at Advance Auto Parts

In other news, SVP Jason Hand sold 948 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $48.52, for a total value of $45,996.96. Following the sale, the senior vice president directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by company insiders.

Advance Auto Parts Trading Up 0.4%

Shares of Advance Auto Parts stock traded up $0.22 during trading hours on Friday, hitting $60.74. The company's stock had a trading volume of 1,094,966 shares, compared to its average volume of 2,021,312. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The stock has a 50 day moving average of $56.86 and a 200 day moving average of $45.37. The company has a market capitalization of $3.64 billion, a PE ratio of -9.53 and a beta of 1.06. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The company's revenue for the quarter 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 company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, October 10th. Advance Auto Parts's payout ratio 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.