Cetera Investment Advisers Takes $335,000 Position in Advance Auto Parts, Inc. $AAP

Key Points

• Cetera Investment Advisers has made a new investment in Advance Auto Parts, acquiring 8,538 shares worth approximately $335,000 during the first quarter.
• Advance Auto Parts will pay a quarterly dividend of $0.25 on October 24th, with a yield of 1.8% and a current payout ratio of -15.70%.
• Despite challenging earnings, Advance Auto Parts reported a EPS of $0.69 for the quarter, exceeding consensus estimates, while also projecting a fiscal year 2025 guidance of 1.200-2.20 EPS.

Cetera Investment Advisers acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,538 shares of the company's stock, valued at approximately $335,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Advance Auto Parts by 34.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock worth $316,160,000 after buying an additional 1,706,328 shares in the last quarter. Pzena Investment Management LLC lifted its holdings 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 buying an additional 1,041,611 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Advance Auto Parts by 11.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,449,554 shares of the company's stock worth $163,129,000 after buying an additional 347,587 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Advance Auto Parts by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company's stock worth $129,016,000 after buying an additional 297,741 shares in the last quarter. Finally, Eminence Capital LP acquired a new stake in Advance Auto Parts during the 4th quarter worth approximately $87,214,000. Hedge funds and other institutional investors own 88.75% of the company's stock.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the firm's stock in a transaction on Friday, June 20th. The shares were 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 approximately $479,183.52. This trade represents a 8.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.35% of the company's stock.

Advance Auto Parts Stock Up 4.1%

NYSE:AAP traded up $2.2650 during midday trading on Friday, hitting $57.8650. 1,314,515 shares of the company were exchanged, compared to its average volume of 2,669,145. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $70.00. 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 company has a market capitalization of $3.47 billion, a PE ratio of -9.08 and a beta of 1.05. The company has a fifty day simple moving average of $55.50 and a 200 day simple moving average of $44.90.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings data 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 net margin of 4.37% and a negative return on equity of 1.97%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the firm posted $0.75 EPS. Advance Auto Parts's revenue for the quarter 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. As a group, equities analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. Advance Auto Parts's dividend payout ratio (DPR) is presently -15.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Mizuho increased their target price on shares of Advance Auto Parts from $38.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. BMO Capital Markets restated a "market perform" rating and issued a $50.00 price objective (up from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. Raymond James Financial raised their price objective on shares of Advance Auto Parts to $49.17 and gave the company a "hold" rating in a report on Monday, May 26th. Wells Fargo & Company raised their price objective on shares of Advance Auto Parts from $45.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, August 15th. Finally, Bank of America raised their price objective on shares of Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. One research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $51.01.

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.