Cetera Investment Advisers Invests $335,000 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 bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,538 shares of the company's stock, valued at approximately $335,000.

Other large investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new position in Advance Auto Parts in the first quarter valued at approximately $718,000. Allianz Asset Management GmbH grew its holdings in Advance Auto Parts by 8.0% during the 1st quarter. Allianz Asset Management GmbH now owns 799,675 shares of the company's stock worth $31,355,000 after acquiring an additional 59,441 shares during the period. AMG National Trust Bank raised its position in shares of Advance Auto Parts by 38.1% during 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. Pzena Investment Management LLC lifted its stake in shares of Advance Auto Parts by 31.8% in the 1st quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company's stock valued at $169,093,000 after purchasing an additional 1,041,611 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of Advance Auto Parts by 7.7% in the 1st quarter. Segall Bryant & Hamill LLC now owns 787,559 shares of the company's stock valued at $30,880,000 after purchasing an additional 56,205 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AAP. Redburn Partners upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective for the company in a report on Tuesday, June 3rd. Roth Capital set a $50.00 target price on Advance Auto Parts and gave the stock a "neutral" rating in a report on Wednesday, May 28th. The Goldman Sachs Group cut Advance Auto Parts from a "neutral" rating to a "sell" rating and lowered their price target for the company from $48.00 to $46.00 in a research note on Tuesday, June 24th. Truist Financial increased their price target on shares of Advance Auto Parts from $51.00 to $53.00 and gave the company a "hold" rating in a research report on Friday, August 15th. Finally, Morgan Stanley lifted their price objective on shares of Advance Auto Parts from $48.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $50.80.

Insider Activity at Advance Auto Parts

In related news, SVP Jason Hand sold 948 shares of the business's stock in a transaction on Friday, June 20th. The shares were 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 of the company's stock, valued at approximately $479,183.52. The trade was a 8.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by insiders.

Advance Auto Parts Stock Up 4.1%

Shares of NYSE AAP traded up $2.2650 during mid-day trading on Friday, reaching $57.8650. 1,314,515 shares of the company's stock were exchanged, compared to its average volume of 2,191,322. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month 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 firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of -9.08 and a beta of 1.05. The business has a fifty day simple moving average of $55.69 and a 200 day simple moving average of $44.90.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.97 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.Advance Auto Parts's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 EPS. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. As a group, equities analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, October 10th. Advance Auto Parts's dividend payout ratio (DPR) is presently -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.