Northern Trust Corp Sells 35,567 Shares of 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 lessened its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 409,176 shares of the company's stock after selling 35,567 shares during the period. Northern Trust Corp owned about 0.68% of Advance Auto Parts worth $16,044,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAP. Mariner LLC bought a new position in Advance Auto Parts in the fourth quarter valued at about $263,000. Stifel Financial Corp grew its holdings in shares of Advance Auto Parts by 27.3% during the fourth quarter. Stifel Financial Corp now owns 13,760 shares of the company's stock worth $651,000 after purchasing an additional 2,955 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Advance Auto Parts during the fourth quarter worth about $407,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Advance Auto Parts during the fourth quarter worth about $417,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Advance Auto Parts by 60.5% during the fourth quarter. Ameriprise Financial Inc. now owns 276,788 shares of the company's stock worth $13,089,000 after purchasing an additional 104,333 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

AAP has been the topic of several research reports. BMO Capital Markets restated a "market perform" rating and set a $50.00 price target (up from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. Mizuho boosted their price target on Advance Auto Parts from $44.00 to $54.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Roth Capital set a $50.00 price target on Advance Auto Parts and gave the stock a "neutral" rating in a report on Wednesday, May 28th. UBS Group set a $65.00 target price on Advance Auto Parts and gave the company a "neutral" rating in a report on Tuesday, August 12th. Finally, Redburn Partners upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 target price on the stock in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Advance Auto Parts has a consensus rating of "Reduce" and a consensus target price of $51.78.

Advance Auto Parts Stock Up 0.5%

Shares of NYSE:AAP traded up $0.32 during trading on Friday, reaching $60.38. 880,122 shares of the stock were exchanged, compared to its average volume of 1,732,617. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $70.00. The stock has a fifty day moving average of $58.07 and a two-hundred day moving average of $45.84. The firm has a market cap 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 issued 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 return on equity of 1.97% and a negative net margin of 4.37%.The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. Advance Auto Parts's revenue for the quarter 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. Research analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share 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. Investors of record on Friday, October 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. Advance Auto Parts's dividend payout ratio is presently -15.70%.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $48.52, for a total value of $45,996.96. Following the completion of the transaction, the senior vice president owned 9,876 shares in the company, valued at $479,183.52. This represents a 8.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by company insiders.

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.