Empowered Funds LLC Boosts Stake in Advance Auto Parts, Inc. $AAP

Empowered Funds LLC raised its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 1.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,880 shares of the company’s stock after purchasing an additional 3,686 shares during the quarter. Empowered Funds LLC owned 0.32% of Advance Auto Parts worth $7,563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Caxton Associates LLP purchased a new stake in Advance Auto Parts in the first quarter valued at $1,068,000. Goldman Sachs Group Inc. raised its position in Advance Auto Parts by 327.7% in the first quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company’s stock valued at $14,230,000 after purchasing an additional 278,066 shares during the period. Scientech Research LLC purchased a new stake in Advance Auto Parts in the first quarter valued at $616,000. Invenomic Capital Management LP raised its holdings in shares of Advance Auto Parts by 281.2% in the 1st quarter. Invenomic Capital Management LP now owns 600,895 shares of the company’s stock valued at $23,561,000 after buying an additional 443,251 shares during the period. Finally, Estuary Capital Management LP raised its holdings in shares of Advance Auto Parts by 31.7% in the 1st quarter. Estuary Capital Management LP now owns 1,258,270 shares of the company’s stock valued at $49,337,000 after buying an additional 303,153 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Advance Auto Parts Trading Down 0.6%

AAP opened at $59.21 on Thursday. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -9.30 and a beta of 1.06. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. The business has a fifty day moving average price of $58.76 and a 200 day moving average price of $46.17.

Advance Auto Parts (NYSE:AAP) last released its earnings results 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 return on equity of 1.97% and a negative net margin of 4.37%.The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the firm posted $0.75 EPS. Advance Auto Parts’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. Sell-side 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 firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.7%. Advance Auto Parts’s dividend payout ratio is presently -15.70%.

Insider Activity at Advance Auto Parts

In other news, SVP Jason Hand sold 948 shares of the firm’s 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America boosted their price objective on Advance Auto Parts from $33.00 to $39.00 and gave the company an “underperform” rating in a report on Friday, May 23rd. Redburn Atlantic upgraded Advance Auto Parts from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $28.00 to $45.00 in a report on Tuesday, June 3rd. Mizuho boosted their price objective on Advance Auto Parts from $44.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Citigroup set a $60.00 price objective on Advance Auto Parts in a report on Thursday, August 14th. Finally, Redburn Partners upgraded Advance Auto Parts from a “sell” rating to a “neutral” rating and set a $45.00 price objective on the stock in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $51.78.

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.