Advance Auto Parts, Inc. $AAP is Estuary Capital Management LP's 3rd Largest Position

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 lifted its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 31.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,258,270 shares of the company's stock after acquiring an additional 303,153 shares during the quarter. Advance Auto Parts makes up approximately 12.0% of Estuary Capital Management LP's portfolio, making the stock its 3rd largest position. 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hexagon Capital Partners LLC lifted its holdings in Advance Auto Parts by 189.0% during the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after purchasing an additional 465 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in Advance Auto Parts during the first quarter valued at about $49,000. Exchange Traded Concepts LLC lifted its holdings in Advance Auto Parts by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock valued at $91,000 after purchasing an additional 2,140 shares during the last quarter. Quarry LP lifted its holdings in Advance Auto Parts by 688.6% during the first quarter. Quarry LP now owns 2,421 shares of the company's stock valued at $95,000 after purchasing an additional 2,114 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Advance Auto Parts by 69.8% during the first quarter. Blue Trust Inc. now owns 2,842 shares of the company's stock valued at $111,000 after buying an additional 1,168 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 completion of the sale, the senior vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. 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 research report on Friday, May 23rd. Wells Fargo & Company increased their price target on shares of Advance Auto Parts from $45.00 to $50.00 and gave the company an "equal weight" rating in a research report on Friday, August 15th. UBS Group set a $65.00 target price on shares of Advance Auto Parts and gave the stock a "neutral" rating in a report on Tuesday, August 12th. Redburn Atlantic raised shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and raised their price target for the stock from $28.00 to $45.00 in a report on Tuesday, June 3rd. Finally, Cowen reiterated a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 23rd. One equities 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 company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $51.78.

Advance Auto Parts Price Performance

AAP stock traded down $2.22 during midday trading on Tuesday, hitting $58.78. The company's stock had a trading volume of 711,410 shares, compared to its average volume of 2,573,797. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $58.36 and a two-hundred day moving average of $45.99. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of -9.22 and a beta of 1.06.

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 analysts' consensus estimates of $0.59 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate 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 was down 7.7% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. On average, analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Advance Auto Parts's dividend payout ratio (DPR) 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.