Advance Auto Parts, Inc. $AAP Shares Bought by Keeley Teton Advisors LLC

Key Points

• Keeley Teton Advisors LLC increased its position in Advance Auto Parts, Inc. by 71.1% during the first quarter, acquiring an additional 11,697 shares, bringing their total holdings to 28,143 shares valued at approximately $1.1 million.
• Various institutional investors, including Hexagon Capital Partners and Exchange Traded Concepts, significantly increased their stakes in Advance Auto Parts, indicating growing institutional confidence in the company.
• Advance Auto Parts reported earnings of $0.69 EPS for the last quarter, exceeding analysts' expectations, but its revenue decreased by 7.7% year-over-year.

Keeley Teton Advisors LLC grew its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 71.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,143 shares of the company's stock after purchasing an additional 11,697 shares during the quarter. Keeley Teton Advisors LLC's holdings in Advance Auto Parts were worth $1,103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMG National Trust Bank increased its holdings in Advance Auto Parts by 38.1% in the 1st quarter. AMG National Trust Bank now owns 43,615 shares of the company's stock worth $1,710,000 after acquiring an additional 12,040 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Advance Auto Parts by 455.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company's stock worth $2,305,000 after acquiring an additional 48,198 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Advance Auto Parts by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company's stock worth $107,500,000 after acquiring an additional 13,412 shares in the last quarter. Invenomic Capital Management LP increased its holdings in Advance Auto Parts by 83.9% in the 4th quarter. Invenomic Capital Management LP now owns 157,644 shares of the company's stock worth $7,455,000 after acquiring an additional 71,928 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Advance Auto Parts by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 294,537 shares of the company's stock worth $11,549,000 after acquiring an additional 6,805 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Insider Buying and Selling

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

Advance Auto Parts Trading Up 0.4%

Shares of AAP stock traded up $0.22 on Friday, hitting $60.74. 1,094,966 shares of the stock traded hands, compared to its average volume of 2,061,991. The firm's 50-day moving average price is $56.86 and its two-hundred day moving average price is $45.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The stock has a market capitalization of $3.64 billion, a PE ratio of -9.53 and a beta of 1.05. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $70.00.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings results 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 for 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 company's revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. As a group, analysts anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given 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%.

Analyst Ratings Changes

AAP has been the subject of several recent analyst reports. Citigroup set a $60.00 price target on shares of Advance Auto Parts in a report on Thursday, August 14th. Mizuho boosted their price target on shares of Advance Auto Parts from $44.00 to $54.00 and gave the stock a "neutral" rating in a report on Friday. The Goldman Sachs Group lowered shares of Advance Auto Parts from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $48.00 to $46.00 in a report on Tuesday, June 24th. Wall Street Zen raised shares of Advance Auto Parts from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Argus reaffirmed a "hold" rating and set a $60.52 target price on shares of Advance Auto Parts in a report on Friday. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $51.78.

About Advance Auto Parts

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.