Fox Run Management L.L.C. Takes Position in Advance Auto Parts, Inc. $AAP

Key Points

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Fox Run Management L.L.C. acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,740 shares of the company's stock, valued at approximately $382,000.

Several other hedge funds also recently bought and sold shares of AAP. Sterling Capital Management LLC raised its holdings in Advance Auto Parts by 52.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,567 shares of the company's stock worth $169,000 after purchasing an additional 1,228 shares during the period. Mariner LLC acquired a new stake in Advance Auto Parts in the fourth quarter worth $263,000. First Trust Advisors LP raised its holdings in Advance Auto Parts by 193.6% in the fourth quarter. First Trust Advisors LP now owns 464,096 shares of the company's stock worth $21,947,000 after purchasing an additional 306,024 shares during the period. Dimensional Fund Advisors LP raised its holdings in Advance Auto Parts by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company's stock worth $129,016,000 after purchasing an additional 297,741 shares during the period. Finally, Capital International Inc. CA acquired a new stake in Advance Auto Parts in the fourth quarter worth $405,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Up 4.1%

Shares of NYSE:AAP traded up $2.2650 during midday trading on Friday, reaching $57.8650. 1,314,515 shares of the company were exchanged, compared to its average volume of 2,669,150. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week 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 stock has a fifty day simple moving average of $55.50 and a two-hundred day simple moving average of $44.90. The firm has a market cap of $3.47 billion, a PE ratio of -9.08 and a beta of 1.05.

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, 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 firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the business earned $0.75 EPS. The company's revenue was down 7.7% compared to the same quarter last year. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. As a group, sell-side analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. Advance Auto Parts's dividend payout ratio (DPR) is -15.70%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. 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. Morgan Stanley increased their target price on shares of Advance Auto Parts from $48.00 to $55.00 and gave the stock an "equal weight" rating in a report on Friday, August 15th. Evercore ISI increased their target price on shares of Advance Auto Parts from $56.00 to $58.00 and gave the stock an "in-line" rating in a report on Tuesday, August 12th. Raymond James Financial raised their price objective on shares of Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a report on Monday, May 26th. Finally, Redburn Atlantic upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $28.00 to $45.00 in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $51.01.

Insider Activity at Advance Auto Parts

In other news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction dated 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 transaction, the senior vice president owned 9,876 shares of the company's stock, valued at $479,183.52. This trade represents a 8.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by company insiders.

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.