Friedenthal Financial Buys New Shares in Advance Auto Parts, Inc. $AAP

Key Points

• Friedenthal Financial has acquired a new stake in Advance Auto Parts, purchasing 18,687 shares valued at approximately $869,000 in the second quarter.
• Advance Auto Parts announced a quarterly dividend of $0.25 per share, scheduled for payment on October 24th, which provides an annualized yield of 1.8%.
• Despite reporting $0.69 earnings per share, exceeding analysts' expectations, the company experienced a 7.7% decline in year-over-year revenue, amounting to $2.01 billion.

Friedenthal Financial bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,687 shares of the company's stock, valued at approximately $869,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. TriaGen Wealth Management LLC acquired a new stake in Advance Auto Parts during the 2nd quarter worth about $506,000. KLP Kapitalforvaltning AS grew its position in Advance Auto Parts by 2.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,500 shares of the company's stock worth $581,000 after purchasing an additional 300 shares during the period. Mattern Capital Management LLC grew its position in Advance Auto Parts by 12.0% during the 2nd quarter. Mattern Capital Management LLC now owns 14,930 shares of the company's stock worth $694,000 after purchasing an additional 1,595 shares during the period. Lecap Asset Management Ltd. acquired a new stake in Advance Auto Parts during the 2nd quarter worth about $804,000. Finally, Truist Financial Corp grew its position in Advance Auto Parts by 15.6% during the 2nd quarter. Truist Financial Corp now owns 15,841 shares of the company's stock worth $736,000 after purchasing an additional 2,134 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Trading Down 2.6%

Shares of Advance Auto Parts stock opened at $56.79 on Wednesday. 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 firm's 50-day moving average price is $59.37 and its 200 day moving average price is $49.35. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $70.00. The firm has a market capitalization of $3.41 billion, a PE ratio of -8.92 and a beta of 1.08.

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, 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 business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the company posted $0.75 EPS. The business'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 firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. Advance Auto Parts's dividend payout ratio (DPR) is -15.70%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Evercore ISI increased their price target on 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. Wolfe Research initiated coverage on Advance Auto Parts in a research report on Thursday, September 18th. They set a "peer perform" rating on the stock. Weiss Ratings restated a "sell (d)" rating on shares of Advance Auto Parts in a research report on Saturday, September 27th. Morgan Stanley raised their target price on Advance Auto Parts from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Friday, September 12th. Finally, DA Davidson set a $65.00 target price on Advance Auto Parts in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.