First Hawaiian Bank Raises Position in Advance Auto Parts, Inc. $AAP

Key Points

• First Hawaiian Bank raised its stake in Advance Auto Parts by 29.6% in the first quarter, owning 25,528 shares worth approximately $1,001,000.
• Several hedge funds significantly increased their positions, with Hexagon Capital Partners boosting holdings by 189% and Exchange Traded Concepts raising theirs by 1,258.8%.
• Advance Auto Parts reported earnings of $0.69 per share for the last quarter, exceeding analysts' expectations, but saw a 7.7% decline in revenue year-over-year.

First Hawaiian Bank increased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,528 shares of the company's stock after buying an additional 5,836 shares during the quarter. First Hawaiian Bank's holdings in Advance Auto Parts were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC boosted its holdings in Advance Auto Parts by 189.0% in the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock worth $28,000 after acquiring an additional 465 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Advance Auto Parts in the 1st quarter valued at approximately $49,000. Exchange Traded Concepts LLC boosted its stake in Advance Auto Parts by 1,258.8% in 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 position in 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 during the last quarter. Finally, Blue Trust Inc. increased 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 in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $48.52, for a total value of $45,996.96. Following the sale, the senior vice president directly owned 9,876 shares of the company's stock, valued at approximately $479,183.52. This trade represents a 8.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citigroup set a $60.00 price objective on shares of Advance Auto Parts in a research note on Thursday, August 14th. Raymond James Financial lifted their price target on Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research report on Monday, May 26th. The Goldman Sachs Group lowered Advance Auto Parts from a "neutral" rating to a "sell" rating and cut their price objective for the company from $48.00 to $46.00 in a report on Tuesday, June 24th. UBS Group set a $65.00 target price on Advance Auto Parts and gave the stock a "neutral" rating in a report on Tuesday, August 12th. Finally, Cowen reiterated a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 23rd. One research analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $52.03.

Advance Auto Parts Stock Performance

AAP opened at $61.10 on Friday. The firm has a fifty day moving average price of $59.18 and a 200 day moving average price of $46.47. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $70.00. The stock has a market cap of $3.67 billion, a P/E ratio of -9.59 and a beta of 1.06. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.97 billion. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The firm's revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 earnings per share. 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 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

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 $0.25 dividend. 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 1.6%. Advance Auto Parts's dividend payout ratio 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.

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