Caxton Associates LLP Takes $1.07 Million Position 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 acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 27,238 shares of the company's stock, valued at approximately $1,068,000.

Other institutional investors have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased 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 worth $28,000 after buying an additional 465 shares during the last quarter. Financial Management Professionals Inc. bought a new position in Advance Auto Parts during the first quarter worth $49,000. Exchange Traded Concepts LLC boosted its position 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 worth $91,000 after purchasing an additional 2,140 shares during the period. Quarry LP boosted its position in Advance Auto Parts by 688.6% during the first quarter. Quarry LP now owns 2,421 shares of the company's stock worth $95,000 after purchasing an additional 2,114 shares during the period. Finally, Blue Trust Inc. boosted its position in Advance Auto Parts by 69.8% during the first 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. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Jason Hand sold 948 shares of the company's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Advance Auto Parts Price Performance

Shares of AAP stock traded down $1.10 on Friday, reaching $61.10. The company had a trading volume of 1,520,412 shares, compared to its average volume of 1,345,379. The stock has a market capitalization of $3.67 billion, a PE ratio of -9.59 and a beta of 1.06. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. Advance Auto Parts, Inc. has a one year low of $28.89 and a one year high of $70.00. The business's 50-day moving average is $59.18 and its 200 day moving average is $46.41.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted 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. 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 revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Bank of America lifted their price objective on shares of Advance Auto Parts from $33.00 to $39.00 and gave the stock an "underperform" rating in a research report on Friday, May 23rd. Argus restated a "hold" rating and issued a $60.52 price target on shares of Advance Auto Parts in a research note on Friday, August 29th. DA Davidson set a $65.00 price target on shares of Advance Auto Parts in a research note on Thursday, August 14th. Raymond James Financial upped their price target on shares of Advance Auto Parts to $49.17 and gave the company a "hold" rating in a research note on Monday, May 26th. Finally, UBS Group set a $65.00 price target on shares of Advance Auto Parts and gave the company a "neutral" rating in a research note on Tuesday, August 12th. 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 stock. According to data from MarketBeat.com, Advance Auto Parts presently has a consensus rating of "Reduce" and a consensus target price of $52.03.

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.