Advance Auto Parts, Inc. $AAP Shares Acquired by Federation des caisses Desjardins du Quebec

Key Points

• Federation des caisses Desjardins du Quebec significantly increased its ownership in Advance Auto Parts, acquiring an additional 36,028 shares, raising its stake by 2,539.0% during the first quarter.
• Advance Auto Parts reported a quarterly EPS of $0.69, beating expectations, but experienced a 7.7% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.25 per share, with an annualized yield of 1.7%, payable to shareholders of record on October 10th.

Federation des caisses Desjardins du Quebec increased its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 2,539.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,447 shares of the company's stock after purchasing an additional 36,028 shares during the quarter. Federation des caisses Desjardins du Quebec owned approximately 0.06% of Advance Auto Parts worth $1,468,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. AMG National Trust Bank lifted its holdings in shares of Advance Auto Parts by 38.1% in the 1st quarter. AMG National Trust Bank now owns 43,615 shares of the company's stock worth $1,710,000 after buying an additional 12,040 shares during the period. Raymond James Financial Inc. raised its holdings in shares of Advance Auto Parts by 13.0% in the first quarter. Raymond James Financial Inc. now owns 210,886 shares of the company's stock valued at $8,269,000 after acquiring an additional 24,342 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Advance Auto Parts by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company's stock worth $107,500,000 after acquiring an additional 13,412 shares during the period. Janney Montgomery Scott LLC grew its holdings in Advance Auto Parts by 455.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company's stock worth $2,305,000 after acquiring an additional 48,198 shares in the last quarter. Finally, Invenomic Capital Management LP increased its position in Advance Auto Parts by 83.9% during the 4th quarter. Invenomic Capital Management LP now owns 157,644 shares of the company's stock valued at $7,455,000 after purchasing an additional 71,928 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Down 1.8%

Shares of AAP traded down $1.10 during mid-day trading on Friday, hitting $61.10. 1,520,412 shares of the company traded hands, compared to its average volume of 1,345,379. The company has a market capitalization of $3.67 billion, a PE ratio of -9.59 and a beta of 1.06. 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 business has a 50 day moving average of $59.18 and a 200 day moving average of $46.41. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $70.00.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The company had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the business earned $0.75 EPS. Advance Auto Parts'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 anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Advance Auto Parts's dividend payout ratio is presently -15.70%.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of Advance Auto Parts 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 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 SEC, which can be accessed through this link. 0.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Cowen reaffirmed a "hold" rating on shares of Advance Auto Parts in a research report on Friday, May 23rd. Bank of America lifted their price target on Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. BMO Capital Markets restated a "market perform" rating and set a $50.00 price objective (up from $40.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Morgan Stanley raised their price objective on Advance Auto Parts from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Redburn Atlantic upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and lifted their target price for the company from $28.00 to $45.00 in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $52.03.

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.