Jupiter Asset Management Ltd. Purchases Shares of 128,621 Advance Auto Parts, Inc. (NYSE:AAP)

Key Points

• Jupiter Asset Management Ltd. acquired 128,621 shares of Advance Auto Parts during the first quarter, making their stake worth approximately $5,043,000, representing around 0.21% of the company.
• Advance Auto Parts reported a quarterly loss of ($0.22) earnings per share, outperforming analysts' expectations of ($0.81) EPS, despite a revenue decline of 24.2% year over year.
• The company declared a quarterly dividend of $0.25 per share, reflecting an annualized yield of 1.9%, as it continues to navigate challenging financial conditions.

Jupiter Asset Management Ltd. purchased a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 128,621 shares of the company's stock, valued at approximately $5,043,000. Jupiter Asset Management Ltd. owned approximately 0.21% of Advance Auto Parts at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AAP. Hexagon Capital Partners LLC lifted its position in Advance Auto Parts by 189.0% during the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after purchasing an additional 465 shares during the period. Advisory Services Network LLC acquired a new position in Advance Auto Parts during the fourth quarter valued at $46,000. Financial Management Professionals Inc. acquired a new position in Advance Auto Parts during the first quarter valued at $49,000. Exchange Traded Concepts LLC lifted its position in Advance Auto Parts by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock valued at $91,000 after purchasing an additional 2,140 shares during the period. Finally, Blue Trust Inc. lifted its position in Advance Auto Parts by 69.8% during the first 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 during the period. Institutional investors and hedge funds own 88.75% of the company's stock.

Advance Auto Parts Stock Performance

AAP opened at $52.66 on Monday. 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 company has a market cap of $3.16 billion, a price-to-earnings ratio of -8.97 and a beta of 1.05. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $70.00. The firm's fifty day simple moving average is $53.61 and its two-hundred day simple moving average is $43.89.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.59. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.51 billion. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The company's revenue was down 24.2% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. Equities analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, July 11th. Advance Auto Parts's dividend payout ratio (DPR) is currently -17.04%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AAP. Morgan Stanley boosted their target price on shares of Advance Auto Parts from $45.00 to $48.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Roth Capital set a $50.00 price target on shares of Advance Auto Parts and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Cowen reissued a "hold" rating on shares of Advance Auto Parts in a report on Friday, May 23rd. Mizuho increased their price target on shares of Advance Auto Parts from $38.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Finally, Wall Street Zen downgraded shares of Advance Auto Parts from a "hold" rating to a "sell" rating in a report on Sunday, June 29th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $48.53.

Insider Buying and Selling at Advance Auto Parts

In other news, SVP Jason Hand sold 948 shares of the firm's 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.67% of the company's stock.

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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