Advance Auto Parts, Inc. $AAP Shares Sold by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in Advance Auto Parts by 46.2%, selling 119,030 shares and now holds approximately 0.23% of the company's stock valued at $5,441,000.
• A number of analysts have issued mixed ratings on Advance Auto Parts, with one buy rating, seventeen holds, and two sells; the current consensus price target is $50.80.
• Advance Auto Parts announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 1.7%, with payment scheduled for October 24th.

Hotchkis & Wiley Capital Management LLC lowered its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 46.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 138,760 shares of the company's stock after selling 119,030 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.23% of Advance Auto Parts worth $5,441,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AAP. Eminence Capital LP acquired a new stake in shares of Advance Auto Parts in the 4th quarter valued at about $87,214,000. Pzena Investment Management LLC boosted its position in shares of Advance Auto Parts by 31.8% in the 1st quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company's stock valued at $169,093,000 after purchasing an additional 1,041,611 shares during the period. Federated Hermes Inc. boosted its position in shares of Advance Auto Parts by 302.5% in the 1st quarter. Federated Hermes Inc. now owns 1,358,764 shares of the company's stock valued at $53,277,000 after purchasing an additional 1,021,181 shares during the period. Bridgeway Capital Management LLC acquired a new stake in shares of Advance Auto Parts in the 4th quarter valued at about $17,127,000. Finally, GAMMA Investing LLC boosted its position in shares of Advance Auto Parts by 12,026.5% in the 1st quarter. GAMMA Investing LLC now owns 190,992 shares of the company's stock valued at $7,489,000 after purchasing an additional 189,417 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

Insiders Place Their Bets

In other news, SVP Jason Hand sold 948 shares of the firm's stock in a transaction on Friday, June 20th. The stock was 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 in the company, valued at $479,183.52. This trade represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.35% of the company's stock.

Advance Auto Parts Price Performance

NYSE AAP traded up $0.22 during mid-day trading on Friday, hitting $60.74. The stock had a trading volume of 1,094,966 shares, compared to its average volume of 2,627,415. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $70.00. The company has a market cap of $3.64 billion, a price-to-earnings ratio of -9.53 and a beta of 1.05. The company has a 50 day simple moving average of $56.64 and a 200 day simple moving average of $45.31. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68.

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 the consensus estimate of $0.59 by $0.10. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.97 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.Advance Auto Parts's quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Equities analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 annualized dividend and a yield of 1.6%. Advance Auto Parts's dividend payout ratio (DPR) is presently -15.70%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Cowen reaffirmed a "hold" rating on shares of Advance Auto Parts in a research report on Friday, May 23rd. Redburn Partners raised Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective for the company in a research report on Tuesday, June 3rd. UBS Group set a $65.00 price objective on Advance Auto Parts and gave the stock a "neutral" rating in a research report on Tuesday, August 12th. Argus reaffirmed a "hold" rating and set a $60.52 price objective on shares of Advance Auto Parts in a research report on Friday. Finally, Redburn Atlantic raised Advance Auto Parts from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $28.00 to $45.00 in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $51.78.

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.