Russell Investments Group Ltd. Has $10.50 Million Holdings in Advance Auto Parts, Inc. $AAP

Key Points

• Russell Investments Group Ltd. increased its stake in Advance Auto Parts by 82.1%, owning approximately 267,729 shares valued at about $10.50 million as of its latest SEC filing.
• Advance Auto Parts reported quarterly earnings of $0.69 per share, exceeding estimates, despite experiencing a 7.7% revenue decline year-over-year.
• The company declared a quarterly dividend of $0.25 per share, yielding approximately 1.8%, with the ex-dividend date set for October 10th.

Russell Investments Group Ltd. lifted its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 82.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,729 shares of the company's stock after acquiring an additional 120,709 shares during the period. Russell Investments Group Ltd. owned 0.45% of Advance Auto Parts worth $10,498,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AAP. Hexagon Capital Partners LLC grew its position in 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 acquiring an additional 465 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Advance Auto Parts during the first quarter worth approximately $49,000. Exchange Traded Concepts LLC grew its position in shares of Advance Auto Parts by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock worth $91,000 after buying an additional 2,140 shares in the last quarter. Blue Trust Inc. grew its position in shares of Advance Auto Parts by 69.8% during the first quarter. Blue Trust Inc. now owns 2,842 shares of the company's stock worth $111,000 after buying an additional 1,168 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its position in shares of Advance Auto Parts by 10.0% during the first quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock worth $129,000 after buying an additional 300 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AAP has been the subject of a number of recent analyst reports. Evercore ISI raised their price target on shares of Advance Auto Parts from $56.00 to $58.00 and gave the stock an "in-line" rating in a research report on Tuesday, August 12th. DA Davidson set a $65.00 price objective on Advance Auto Parts in a research note on Thursday, August 14th. Raymond James Financial raised their price objective on Advance Auto Parts to $49.17 and gave the stock a "hold" rating in a research note on Monday, May 26th. Cowen restated a "hold" rating on shares of Advance Auto Parts in a research note on Friday, May 23rd. Finally, BMO Capital Markets restated a "market perform" rating and set a $50.00 price objective (up from $40.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. One analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $50.80.

Insiders Place Their Bets

In related news, SVP Jason Hand sold 948 shares of Advance Auto Parts stock in a transaction dated 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 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.67% of the company's stock.

Advance Auto Parts Price Performance

NYSE:AAP traded up $2.2650 during mid-day trading on Friday, reaching $57.8650. 1,314,515 shares of the stock were exchanged, compared to its average volume of 2,191,322. The business has a fifty day moving average price of $55.69 and a 200 day moving average price of $44.90. The firm has a market capitalization of $3.47 billion, a PE ratio of -9.08 and a beta of 1.05. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $70.00. 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 (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, topping analysts' consensus estimates of $0.59 by $0.10. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.Advance Auto Parts's revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. 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 business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be paid a $0.25 dividend. 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 (DPR) is currently -15.70%.

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.