Russell Investments Group Ltd. Acquires 120,709 Shares of 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 position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 82.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 267,729 shares of the company's stock after acquiring an additional 120,709 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.45% of Advance Auto Parts worth $10,498,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAP. Central Pacific Bank Trust Division increased its stake in Advance Auto Parts by 10.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,300 shares of the company's stock worth $129,000 after acquiring an additional 300 shares during the period. Sovran Advisors LLC increased its stake in Advance Auto Parts by 4.3% during the 1st quarter. Sovran Advisors LLC now owns 7,822 shares of the company's stock worth $307,000 after acquiring an additional 322 shares during the period. Studio Investment Management LLC increased its stake in Advance Auto Parts by 6.7% during the 4th quarter. Studio Investment Management LLC now owns 5,557 shares of the company's stock worth $263,000 after acquiring an additional 350 shares during the period. Investors Research Corp increased its stake in Advance Auto Parts by 7.1% during the 1st quarter. Investors Research Corp now owns 5,625 shares of the company's stock worth $221,000 after acquiring an additional 375 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock worth $28,000 after acquiring an additional 465 shares during the period. Institutional investors own 88.75% of the company's stock.

Insider Transactions at Advance Auto Parts

In other 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by corporate insiders.

Advance Auto Parts Price Performance

Shares of NYSE AAP traded up $2.2650 during mid-day trading on Friday, hitting $57.8650. 1,314,515 shares of the stock traded hands, compared to its average volume of 2,669,150. 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 twelve month low of $28.89 and a twelve month high of $70.00. The company has a market cap of $3.47 billion, a PE ratio of -9.08 and a beta of 1.05. The firm has a 50 day simple moving average of $55.50 and a two-hundred day simple moving average of $44.90.

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 the consensus estimate of $0.59 by $0.10. The business had revenue of $2.01 billion during 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 for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. As a group, equities research analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors 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%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AAP. Citigroup set a $60.00 target price on Advance Auto Parts in a report on Thursday, August 14th. Redburn Atlantic raised Advance Auto Parts from a "sell" rating to a "neutral" rating and raised their target price for the company from $28.00 to $45.00 in a report on Tuesday, June 3rd. The Goldman Sachs Group downgraded Advance Auto Parts from a "neutral" rating to a "sell" rating and reduced their target price for the company from $48.00 to $46.00 in a report on Tuesday, June 24th. Raymond James Financial raised their target price on Advance Auto Parts to $49.17 and gave the company a "hold" rating in a report on Monday, May 26th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $50.00 target price (up previously from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. One research analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Advance Auto Parts currently has a consensus rating of "Reduce" and an average target price of $51.01.

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.