Federation des caisses Desjardins du Quebec Purchases 36,028 Shares of Advance Auto Parts, Inc. $AAP

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 raised its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 2,539.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 37,447 shares of the company's stock after purchasing an additional 36,028 shares during the period. 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.

A number of other hedge funds have also added to or reduced their stakes in AAP. Hexagon Capital Partners LLC boosted its stake in Advance Auto Parts by 189.0% during the 1st 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. acquired a new position in Advance Auto Parts during the 1st quarter valued at about $49,000. Exchange Traded Concepts LLC boosted its stake in 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 valued at $91,000 after purchasing an additional 2,140 shares during the last quarter. Quarry LP boosted its stake in Advance Auto Parts by 688.6% during the 1st 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. boosted its stake in Advance Auto Parts by 69.8% during the 1st quarter. Blue Trust Inc. now owns 2,842 shares of the company's stock valued at $111,000 after purchasing an additional 1,168 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $60.38 on Monday. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month 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 business's 50 day simple moving average is $58.07 and its 200 day simple moving average is $45.86. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -9.48 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.69 EPS for the quarter, beating 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 business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. 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. Sell-side analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be issued 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 yield of 1.7%. Advance Auto Parts's 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 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 transaction of $45,996.96. Following the sale, the senior vice president owned 9,876 shares of the company's stock, valued at $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 is available through this link. 0.67% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on AAP. Mizuho lifted their price target on Advance Auto Parts from $44.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Truist Financial boosted their target price on Advance Auto Parts from $51.00 to $53.00 and gave the stock a "hold" rating in a research note on Friday, August 15th. Morgan Stanley boosted their target price on Advance Auto Parts from $48.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Friday, August 15th. Roth Capital set a $50.00 target price on Advance Auto Parts and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Finally, Wells Fargo & Company boosted their target price on Advance Auto Parts from $45.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Friday, August 15th. 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 company. According to MarketBeat, Advance Auto Parts currently has an average rating of "Reduce" and an average price target of $51.78.

About Advance Auto Parts

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.

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