Vanguard Group Inc. Sells 96,893 Shares of Advance Auto Parts, Inc. $AAP

Key Points

• Vanguard Group Inc. has trimmed its stake in Advance Auto Parts, Inc. by 1.5%, now holding 6,546,569 shares worth approximately $256.69 million.
• Recent reports indicate a majority of institutional investors and hedge funds own 88.75% of Advance Auto Parts stock, demonstrating significant interest from institutional players.
• Advance Auto Parts recently announced a quarterly dividend of $0.25, with a payout scheduled for October 24th, reflecting a 1.8% dividend yield.

Vanguard Group Inc. reduced its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,546,569 shares of the company's stock after selling 96,893 shares during the period. Vanguard Group Inc. owned approximately 10.94% of Advance Auto Parts worth $256,691,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its holdings in shares of Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock valued at $28,000 after purchasing an additional 465 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Advance Auto Parts in the first quarter valued at approximately $49,000. Exchange Traded Concepts LLC boosted its stake in shares of Advance Auto Parts by 1,258.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock worth $91,000 after acquiring an additional 2,140 shares during the period. Blue Trust Inc. raised its stake in Advance Auto Parts by 69.8% in the 1st quarter. Blue Trust Inc. now owns 2,842 shares of the company's stock valued at $111,000 after acquiring an additional 1,168 shares during the period. Finally, Central Pacific Bank Trust Division boosted its position in 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 purchasing an additional 300 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Up 4.3%

NYSE:AAP traded up $2.4160 during trading hours on Friday, hitting $58.0160. 746,762 shares of the company traded hands, compared to its average volume of 2,665,413. Advance Auto Parts, Inc. has a one year low of $28.89 and a one year high of $70.00. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. The company has a market cap of $3.48 billion, a PE ratio of -9.12 and a beta of 1.05. The firm's 50-day simple moving average is $55.50 and its 200-day simple moving average is $44.90.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.69 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company's revenue for the quarter 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. Equities analysts predict that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, October 10th. Advance Auto Parts's dividend payout ratio (DPR) is presently -15.70%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial boosted their price target on Advance Auto Parts from $51.00 to $53.00 and gave the company a "hold" rating in a research note on Friday, August 15th. Mizuho boosted their price target on Advance Auto Parts from $38.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Redburn Atlantic upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $28.00 to $45.00 in a research note on Tuesday, June 3rd. Redburn Partners raised Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective for the company in a report on Tuesday, June 3rd. Finally, Bank of America raised their price target on Advance Auto Parts from $33.00 to $39.00 and gave the stock an "underperform" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Advance Auto Parts presently has an average rating of "Reduce" and an average price target of $51.01.

Insider Buying and Selling at Advance Auto Parts

In related 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 completion of the sale, the senior vice president directly owned 9,876 shares in the company, valued at $479,183.52. This represents a 8.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.35% of the company's stock.

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.