Northern Trust Corp Has $16.04 Million Stock Position in Advance Auto Parts, Inc. $AAP

Key Points

• Northern Trust Corp has decreased its holdings in Advance Auto Parts by 8.0%, selling 35,567 shares and now owning approximately 0.68% of the company, valued at $16.04 million.
• Advance Auto Parts recently reported earnings of $0.69 per share, beating estimates, with revenue of $2.01 billion for the quarter, despite a year-over-year decline of 7.7%.
• The company announced a quarterly dividend of $0.25 per share, with an annualized yield of 1.7%, set to be paid on October 24th to investors recorded by October 10th.

Northern Trust Corp reduced its position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 8.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 409,176 shares of the company's stock after selling 35,567 shares during the quarter. Northern Trust Corp owned about 0.68% of Advance Auto Parts worth $16,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAP. Raymond James Financial Inc. increased its stake in shares of Advance Auto Parts by 13.0% in the 1st quarter. Raymond James Financial Inc. now owns 210,886 shares of the company's stock valued at $8,269,000 after acquiring an additional 24,342 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 valued at $107,500,000 after acquiring an additional 13,412 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Advance Auto Parts in the 1st quarter valued at about $382,000. Russell Investments Group Ltd. increased its stake in shares of Advance Auto Parts by 82.1% in the 1st quarter. Russell Investments Group Ltd. now owns 267,729 shares of the company's stock valued at $10,498,000 after acquiring an additional 120,709 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Advance Auto Parts by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 188,159 shares of the company's stock valued at $7,378,000 after acquiring an additional 40,323 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the company's stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.67% of the stock is currently owned by company insiders.

Advance Auto Parts Stock Up 0.5%

NYSE AAP traded up $0.32 during trading hours on Friday, reaching $60.38. 880,122 shares of the company's stock were exchanged, compared to its average volume of 1,719,965. The company's 50-day moving average is $58.07 and its two-hundred day moving average is $45.86. Advance Auto Parts, Inc. has a one year low of $28.89 and a one year high of $70.00. 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 company has a market capitalization of $3.62 billion, a price-to-earnings ratio of -9.48 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the prior year, the business earned $0.75 EPS. Advance Auto Parts's revenue for the quarter 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. On average, analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 1.7%. Advance Auto Parts's dividend payout ratio is -15.70%.

Analysts Set New Price Targets

A number of analysts have recently commented on AAP shares. UBS Group set a $65.00 price target on Advance Auto Parts and gave the company a "neutral" rating in a research note on Tuesday, August 12th. Raymond James Financial upped their price target on Advance Auto Parts to $49.17 and gave the company a "hold" rating in a research note on Monday, May 26th. Truist Financial upped their price target on Advance Auto Parts from $51.00 to $53.00 and gave the company a "hold" rating in a research note on Friday, August 15th. Bank of America upped their price target on Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a research note on Friday, May 23rd. Finally, Argus reissued a "hold" rating and set a $60.52 target price on shares of Advance Auto Parts in a research note on Friday, August 29th. One research analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Advance Auto Parts has an average 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.