Charles Schwab Investment Management Inc. Purchases 24,259 Shares of Advance Auto Parts, Inc. $AAP

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Advance Auto Parts by 3.7%, totaling 674,178 shares worth approximately $26.44 million.
• Advance Auto Parts reported earnings of $0.69 per share for the latest quarter, exceeding analyst expectations of $0.59, despite a 7.7% year-over-year decline in revenue.
• The company declared a quarterly dividend of $0.25 per share, with an annualized dividend yield of 1.8%, scheduled for payment on October 24th.

Charles Schwab Investment Management Inc. lifted its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 674,178 shares of the company's stock after purchasing an additional 24,259 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.13% of Advance Auto Parts worth $26,435,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AAP. Eminence Capital LP acquired a new position in Advance Auto Parts during the fourth quarter valued at $87,214,000. Price T Rowe Associates Inc. MD raised its position in Advance Auto Parts by 34.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock valued at $316,160,000 after buying an additional 1,706,328 shares during the period. Pzena Investment Management LLC raised its position in Advance Auto Parts by 31.8% during the first quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company's stock valued at $169,093,000 after buying an additional 1,041,611 shares during the period. Federated Hermes Inc. raised its position in Advance Auto Parts by 302.5% during the first quarter. Federated Hermes Inc. now owns 1,358,764 shares of the company's stock valued at $53,277,000 after buying an additional 1,021,181 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new position in Advance Auto Parts during the fourth quarter valued at $17,127,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Jason Hand sold 948 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $48.52, for a total transaction of $45,996.96. Following the completion of the sale, the senior vice president owned 9,876 shares in the company, valued at $479,183.52. This represents a 8.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on AAP. Redburn Partners raised 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. Roth Capital set a $50.00 target price on Advance Auto Parts and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. DA Davidson set a $65.00 target price on Advance Auto Parts in a research report on Thursday, August 14th. Evercore ISI upped their target price on Advance Auto Parts from $56.00 to $58.00 and gave the stock an "in-line" rating in a research report on Tuesday, August 12th. Finally, UBS Group set a $65.00 target price on Advance Auto Parts and gave the stock a "neutral" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Advance Auto Parts has an average rating of "Reduce" and a consensus target price of $50.80.

Advance Auto Parts Stock Up 1.4%

Shares of AAP traded up $0.84 during trading hours on Tuesday, hitting $60.32. 1,708,585 shares of the company were exchanged, compared to its average volume of 2,167,866. The company has a market cap of $3.62 billion, a PE ratio of -9.47 and a beta of 1.05. The firm's 50 day moving average is $56.15 and its 200-day moving average is $45.10. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $70.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings results 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 return on equity of 1.97% and a negative net margin of 4.37%.The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the company posted $0.75 EPS. The firm's revenue 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. On average, equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 10th. This represents a $1.00 annualized dividend and a yield of 1.7%. Advance Auto Parts's dividend payout ratio is presently -15.70%.

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.