Financiere des Professionnels Fonds d investissement inc. Buys New Position in Advance Auto Parts, Inc. $AAP

Key Points

• Financiere des Professionnels Fonds d investissement inc. acquired 4,932 shares of Advance Auto Parts, Inc., valued at approximately $229,000, as noted in their recent SEC filing.
• Advance Auto Parts reported $0.69 earnings per share for the quarter, exceeding analysts' expectations, but experienced a 7.7% decrease in revenue year-over-year.
• The company declared a quarterly dividend of $0.25 per share, providing an annualized yield of 1.7%, with an ex-dividend date set for October 10th.

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,932 shares of the company's stock, valued at approximately $229,000.

Other hedge funds have also recently bought and sold shares of the company. AMG National Trust Bank lifted its position in Advance Auto Parts by 38.1% in the 1st quarter. AMG National Trust Bank now owns 43,615 shares of the company's stock valued at $1,710,000 after purchasing an additional 12,040 shares during the last quarter. Raymond James Financial Inc. lifted its position in Advance Auto Parts by 13.0% in the 1st quarter. Raymond James Financial Inc. now owns 210,886 shares of the company's stock valued at $8,269,000 after purchasing an additional 24,342 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Advance Auto Parts by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company's stock valued at $107,500,000 after purchasing an additional 13,412 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Advance Auto Parts by 455.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company's stock valued at $2,305,000 after purchasing an additional 48,198 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Advance Auto Parts by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 294,537 shares of the company's stock worth $11,549,000 after buying an additional 6,805 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Advance Auto Parts Stock Down 2.6%

AAP stock traded down $1.54 during mid-day trading on Friday, hitting $58.58. 2,549,057 shares of the company were exchanged, compared to its average volume of 1,386,789. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The firm has a market cap of $3.51 billion, a P/E ratio of -9.20 and a beta of 1.06. The firm's 50 day simple moving average is $59.55 and its 200 day simple moving average is $47.38. 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 earnings per share for the quarter, beating the consensus estimate 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 business 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 earnings per share. 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, sell-side analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders 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 dividend yield of 1.7%. Advance Auto Parts's dividend payout ratio (DPR) is currently -15.70%.

Analyst Ratings Changes

A number of research firms have commented on AAP. Redburn Atlantic upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $28.00 to $45.00 in a research report on Tuesday, June 3rd. Evercore ISI boosted their price target on shares of 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. Citigroup set a $60.00 price target on shares of Advance Auto Parts in a research report on Thursday, August 14th. Raymond James Financial lifted their price objective on shares of Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research note on Monday, May 26th. Finally, Redburn Partners raised shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective on the stock in a research note on Tuesday, June 3rd. One analyst has rated the stock with a Buy rating, nineteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $52.03.

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.