Caxton Associates LLP Invests $1.07 Million in Advance Auto Parts, Inc. $AAP

Key Points

• Caxton Associates LLP has acquired a new position in Advance Auto Parts, purchasing 27,238 shares valued at approximately $1,068,000.
• Advance Auto Parts' stock has experienced significant institutional interest, with several investors increasing their stakes during the first quarter, leading to institutional ownership of 88.70%.
• Despite a revenue decline of 7.7% year-over-year, the company reported better-than-expected earnings, with EPS of $0.69 compared to analysts' estimates of $0.59.

Caxton Associates LLP bought a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 27,238 shares of the company's stock, valued at approximately $1,068,000.

Several other hedge funds have also recently added to or reduced their stakes in AAP. Hexagon Capital Partners LLC boosted its stake in Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after purchasing an additional 465 shares during the period. Financial Management Professionals Inc. bought a new stake in Advance Auto Parts during the 1st quarter valued at approximately $49,000. Exchange Traded Concepts LLC boosted its stake in Advance Auto Parts by 1,258.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock valued at $91,000 after purchasing an additional 2,140 shares during the period. Quarry LP boosted its stake in Advance Auto Parts by 688.6% during the 1st quarter. Quarry LP now owns 2,421 shares of the company's stock valued at $95,000 after purchasing an additional 2,114 shares during the period. Finally, Blue Trust Inc. raised 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 valued at $111,000 after acquiring an additional 1,168 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Redburn Partners raised Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price target for the company in a report on Tuesday, June 3rd. Wall Street Zen raised Advance Auto Parts from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Redburn Atlantic raised Advance Auto Parts from a "sell" rating to a "neutral" rating and upped their price target for the company from $28.00 to $45.00 in a report on Tuesday, June 3rd. Bank of America upped their price target on Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. Finally, DA Davidson set a $65.00 price target on Advance Auto Parts in a report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $52.03.

Advance Auto Parts Trading Up 3.1%

AAP traded up $1.88 during mid-day trading on Monday, reaching $62.97. The stock had a trading volume of 569,520 shares, compared to its average volume of 2,546,578. The stock has a market capitalization of $3.78 billion, a P/E ratio of -9.86 and a beta of 1.06. 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 firm's fifty day simple moving average is $59.18 and its two-hundred day simple moving average is $46.54. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week 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 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.The business's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. On average, equities analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, October 10th. Advance Auto Parts's dividend payout ratio (DPR) is presently -15.70%.

Insider Buying and Selling

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 value of $45,996.96. Following the transaction, the senior vice president directly owned 9,876 shares in the company, valued at approximately $479,183.52. This trade represents a 8.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.67% of the company's stock.

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.