Rhumbline Advisers Sells 7,071 Shares of Advance Auto Parts, Inc. $AAP

Key Points

• Rhumbline Advisers reduced its position in Advance Auto Parts, Inc. by 4.8%, owning approximately 0.23% of the company after selling 7,071 shares in the first quarter.
• Advance Auto Parts recently announced a quarterly dividend of $0.25 per share, indicating an annual yield of 1.6% for investors of record.
• Analysts have set a consensus rating of "Reduce" for Advance Auto Parts, with an average target price of $52.03, following various changes in ratings from several brokerages.

Rhumbline Advisers lessened its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,677 shares of the company's stock after selling 7,071 shares during the period. Rhumbline Advisers owned about 0.23% of Advance Auto Parts worth $5,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Advance Auto Parts by 14.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,979 shares of the company's stock worth $7,096,000 after buying an additional 23,018 shares during the period. Empowered Funds LLC boosted its holdings in shares of Advance Auto Parts by 1.9% during the 1st quarter. Empowered Funds LLC now owns 192,880 shares of the company's stock worth $7,563,000 after buying an additional 3,686 shares during the period. Caxton Associates LLP bought a new stake in shares of Advance Auto Parts during the 1st quarter worth about $1,068,000. Goldman Sachs Group Inc. boosted its holdings in shares of Advance Auto Parts by 327.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company's stock worth $14,230,000 after buying an additional 278,066 shares during the period. Finally, Scientech Research LLC bought a new stake in shares of Advance Auto Parts during the 1st quarter worth about $616,000. Institutional investors own 88.70% of the company's stock.

Advance Auto Parts Stock Down 4.1%

Shares of Advance Auto Parts stock traded down $2.58 during trading on Thursday, reaching $60.10. 2,159,838 shares of the company traded hands, compared to its average volume of 1,338,555. 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 company has a 50 day moving average price of $59.63 and a 200-day moving average price of $47.12. The firm has a market capitalization of $3.61 billion, a PE ratio of -9.43 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the company earned $0.75 EPS. Advance Auto Parts's quarterly revenue 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. As a group, equities research analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be issued a $0.25 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. Advance Auto Parts's dividend payout ratio is currently -15.70%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AAP. Wells Fargo & Company boosted their target price on shares of Advance Auto Parts from $45.00 to $50.00 and gave the company an "equal weight" rating in a research report on Friday, August 15th. Bank of America boosted their target price on shares of Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a research report on Friday, May 23rd. Redburn Partners upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 target price for the company in a research report on Tuesday, June 3rd. Raymond James Financial boosted their target price on shares of Advance Auto Parts to $49.17 and gave the company a "hold" rating in a research report on Monday, May 26th. Finally, DA Davidson set a $65.00 target price on shares of Advance Auto Parts in a research report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, nineteen have assigned 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 a consensus target price of $52.03.

Insider Activity at Advance Auto Parts

In related news, SVP Jason Hand sold 948 shares of the stock in a transaction dated Friday, June 20th. The shares were 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 in the company, valued at approximately $479,183.52. This represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is currently owned by corporate insiders.

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.