Price T Rowe Associates Inc. MD Lowers Stock Holdings in Advance Auto Parts, Inc. $AAP

Key Points

• Price T Rowe Associates Inc. reduced its holdings in Advance Auto Parts by 0.2%, owning approximately 6.67 million shares valued at $261.62 million.
• A recent quarterly dividend of $0.25 per share has been declared, representing an annual yield of 1.7% for shareholders of record by October 10th.
• Analysts have varied ratings and price targets for Advance Auto Parts, with consensus target price set at $50.80, reflecting a mix of upgrades and downgrades from different firms.

Price T Rowe Associates Inc. MD lowered its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,672,243 shares of the company's stock after selling 13,298 shares during the period. Price T Rowe Associates Inc. MD owned about 11.15% of Advance Auto Parts worth $261,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AAP. Mariner LLC acquired a new stake in Advance Auto Parts in the 4th quarter valued at about $263,000. First Trust Advisors LP increased its holdings in Advance Auto Parts by 193.6% in the fourth quarter. First Trust Advisors LP now owns 464,096 shares of the company's stock valued at $21,947,000 after buying an additional 306,024 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Advance Auto Parts by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company's stock valued at $129,016,000 after buying an additional 297,741 shares during the last quarter. Stifel Financial Corp increased its holdings in Advance Auto Parts by 27.3% in the fourth quarter. Stifel Financial Corp now owns 13,760 shares of the company's stock valued at $651,000 after buying an additional 2,955 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Advance Auto Parts in the fourth quarter valued at $407,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction that occurred 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 transaction, the senior vice president directly owned 9,876 shares in the company, valued at approximately $479,183.52. This trade represents a 8.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.67% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AAP. Redburn Partners upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective on the stock in a report on Tuesday, June 3rd. Mizuho raised their price objective 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. Truist Financial upped their target price on shares of Advance Auto Parts from $51.00 to $53.00 and gave the company a "hold" rating in a report on Friday, August 15th. Wall Street Zen raised shares of Advance Auto Parts from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Raymond James Financial boosted their price target on shares of Advance Auto Parts to $49.17 and gave the company a "hold" rating in a research report on Monday, May 26th. One research analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $50.80.

Advance Auto Parts Stock Performance

Shares of AAP traded up $0.59 during mid-day trading on Wednesday, reaching $60.78. 1,095,218 shares of the company's stock were exchanged, compared to its average volume of 2,646,227. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. The stock has a market capitalization of $3.65 billion, a PE ratio of -9.54 and a beta of 1.05. The business's fifty day simple moving average is $56.15 and its 200-day simple moving average is $45.10. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $70.00.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced 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. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates 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 for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. On average, equities research analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, October 10th. Advance Auto Parts's dividend payout ratio (DPR) is -15.70%.

Advance Auto Parts Company 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.