Quantbot Technologies LP Increases Holdings in Advance Auto Parts, Inc. $AAP

Key Points

• Quantbot Technologies LP significantly increased its stake in Advance Auto Parts by 190.6%, acquiring a total of 31,962 shares valued at approximately $1.25 million.
• The latest earnings report revealed that Advance Auto Parts beat analysts' expectations with $0.69 earnings per share, surpassing the consensus estimate of $0.59.
• A quarterly dividend of $0.25 per share has been declared, representing a 1.7% yield based on an annualized payout.

Quantbot Technologies LP lifted its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 190.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,962 shares of the company's stock after purchasing an additional 20,964 shares during the period. Quantbot Technologies LP owned 0.05% of Advance Auto Parts worth $1,253,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its holdings in shares of Advance Auto Parts by 189.0% in 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. Financial Management Professionals Inc. purchased a new stake in shares of Advance Auto Parts in the first quarter valued at approximately $49,000. Exchange Traded Concepts LLC boosted its holdings in shares of Advance Auto Parts by 1,258.8% in 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. Blue Trust Inc. boosted its holdings in shares of Advance Auto Parts by 69.8% in 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. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Advance Auto Parts by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock valued at $129,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 88.75% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AAP. Citigroup set a $60.00 price target on Advance Auto Parts in a report on Thursday, August 14th. Redburn Partners upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 target price for the company in a report on Tuesday, June 3rd. Truist Financial upped their target price on Advance Auto Parts from $51.00 to $53.00 and gave the stock a "hold" rating in a report on Friday, August 15th. Wall Street Zen upgraded Advance Auto Parts from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Redburn Atlantic upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and upped their target price for the stock from $28.00 to $45.00 in a report on Tuesday, June 3rd. One analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $50.80.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $57.8650 on Friday. The business's fifty day simple moving average is $55.69 and its 200-day simple moving average is $44.95. The company has a market cap of $3.47 billion, a PE ratio of -9.08 and a beta of 1.05. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $70.00.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The business's quarterly revenue 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. Analysts expect 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. Shareholders of record on Friday, October 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. Advance Auto Parts's dividend payout ratio (DPR) is currently -15.70%.

Insiders Place Their Bets

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $48.52, for a total transaction of $45,996.96. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company's stock.

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.

Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.