Charles Schwab Investment Management Inc. lifted its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 3.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 674,178 shares of the company's stock after buying an additional 24,259 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.13% of Advance Auto Parts worth $26,435,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Mariner LLC bought a new position in shares of Advance Auto Parts in the fourth quarter worth $263,000. First Trust Advisors LP increased its position in shares of Advance Auto Parts by 193.6% in the fourth quarter. First Trust Advisors LP now owns 464,096 shares of the company's stock worth $21,947,000 after purchasing an additional 306,024 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Advance Auto Parts by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company's stock worth $129,016,000 after purchasing an additional 297,741 shares during the period. Stifel Financial Corp increased its position in shares of Advance Auto Parts by 27.3% in the fourth quarter. Stifel Financial Corp now owns 13,760 shares of the company's stock worth $651,000 after purchasing an additional 2,955 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of Advance Auto Parts in the fourth quarter worth $407,000. Institutional investors and hedge funds own 88.75% of the company's stock.
Advance Auto Parts Stock Performance
Shares of AAP stock opened at $56.5860 on Thursday. The business's 50-day moving average price is $55.40 and its 200-day moving average price is $44.84. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -8.88 and a beta of 1.05. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.
Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm posted $0.75 earnings per share. The business'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. Equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.
Advance Auto Parts Announces Dividend
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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. Advance Auto Parts's dividend payout ratio (DPR) is presently -15.70%.
Analyst Upgrades and Downgrades
AAP has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Advance Auto Parts from $45.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, August 15th. The Goldman Sachs Group cut Advance Auto Parts from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $48.00 to $46.00 in a research report on Tuesday, June 24th. Redburn Partners upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price target on the stock in a research report on Tuesday, June 3rd. Truist Financial raised their price target on Advance Auto Parts from $51.00 to $53.00 and gave the stock a "hold" rating in a research report on Friday, August 15th. Finally, Citigroup set a $60.00 target price on Advance Auto Parts in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $51.01.
Read Our Latest Stock Analysis on AAP
Insider Activity at Advance Auto Parts
In related news, SVP Jason Hand sold 948 shares of Advance Auto Parts 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 transaction, the senior vice president directly owned 9,876 shares of the company's stock, valued at $479,183.52. The trade was a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.35% of the company's stock.
Advance Auto Parts Company Profile
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Advance Auto Parts, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Advance Auto Parts wasn't on the list.
While Advance Auto Parts currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access