Advance Auto Parts, Inc. $AAP Stake Lifted by Estuary Capital Management LP

Key Points

• Estuary Capital Management LP increased its stake in Advance Auto Parts by 31.7%, owning over 1.25 million shares which represents about 12.0% of its portfolio.
• Advance Auto Parts recently announced a quarterly dividend of $0.25 per share, which will be paid to investors on October 24th, indicating an annual yield of 1.7%.
• In its latest earnings report, Advance Auto Parts posted an EPS of $0.69, exceeding estimates, but experienced a 7.7% decline in year-over-year revenue.

Estuary Capital Management LP increased its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 31.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,258,270 shares of the company's stock after buying an additional 303,153 shares during the quarter. Advance Auto Parts accounts for about 12.0% of Estuary Capital Management LP's portfolio, making the stock its 3rd biggest holding. Estuary Capital Management LP owned about 2.10% of Advance Auto Parts worth $49,337,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its position in shares of Advance Auto Parts by 189.0% in the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after buying an additional 465 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Advance Auto Parts during the 1st quarter valued at $49,000. Exchange Traded Concepts LLC grew its holdings in shares of Advance Auto Parts by 1,258.8% during the 1st 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 in the last quarter. Quarry LP grew its holdings in shares of Advance Auto Parts by 688.6% during the 1st quarter. Quarry LP now owns 2,421 shares of the company's stock worth $95,000 after purchasing an additional 2,114 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Advance Auto Parts by 69.8% during the 1st quarter. Blue Trust Inc. now owns 2,842 shares of the company's stock worth $111,000 after buying an additional 1,168 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Insider Transactions at Advance Auto Parts

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

Advance Auto Parts Stock Performance

Shares of NYSE AAP traded up $0.53 during mid-day trading on Monday, hitting $60.97. The company had a trading volume of 1,214,463 shares, compared to its average volume of 2,584,887. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -9.57 and a beta of 1.06. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year 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 stock's 50-day moving average price is $58.07 and its 200-day moving average price is $45.86.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued 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 firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company's revenue was down 7.7% compared to the same quarter last year. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. On average, sell-side analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm also recently declared 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 yield of 1.6%. The ex-dividend date is Friday, October 10th. Advance Auto Parts's payout ratio is currently -15.70%.

Analysts Set New Price Targets

AAP has been the subject of a number of research analyst reports. Cowen reissued a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 23rd. Wall Street Zen raised Advance Auto Parts from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Roth Capital set a $50.00 price target on Advance Auto Parts and gave the company a "neutral" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group cut Advance Auto Parts from a "neutral" rating to a "sell" rating and decreased their price target for the company from $48.00 to $46.00 in a research note on Tuesday, June 24th. Finally, Evercore ISI increased their price target on Advance Auto Parts from $56.00 to $58.00 and gave the company an "in-line" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $51.78.

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.