Thrivent Financial for Lutherans Trims Stock Position in Advance Auto Parts, Inc. $AAP

Thrivent Financial for Lutherans lessened its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 10.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,187,838 shares of the company’s stock after selling 134,535 shares during the period. Thrivent Financial for Lutherans’ holdings in Advance Auto Parts were worth $55,223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of AAP. Gainplan LLC purchased a new stake in Advance Auto Parts in the second quarter valued at approximately $700,000. Pzena Investment Management LLC increased its holdings in shares of Advance Auto Parts by 1.9% in the 2nd quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company’s stock worth $204,322,000 after buying an additional 82,456 shares during the last quarter. Raymond James Financial Inc. raised its position in shares of Advance Auto Parts by 13.0% during the 1st quarter. Raymond James Financial Inc. now owns 210,886 shares of the company’s stock valued at $8,269,000 after buying an additional 24,342 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Advance Auto Parts by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company’s stock worth $107,500,000 after acquiring an additional 13,412 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in Advance Auto Parts in the second quarter worth $869,000. 88.70% of the stock is owned by institutional investors.

Insider Activity at Advance Auto Parts

In other news, EVP Kristen L. Soler sold 7,662 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $51.00, for a total transaction of $390,762.00. Following the completion of the sale, the executive vice president directly owned 23,165 shares in the company, valued at approximately $1,181,415. This represents a 24.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their price target on Advance Auto Parts from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. UBS Group set a $40.00 price objective on Advance Auto Parts in a report on Thursday, October 30th. Truist Financial boosted their target price on Advance Auto Parts from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Citigroup reduced their price target on shares of Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Finally, Cfra Research upgraded shares of Advance Auto Parts to a “hold” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating, twenty have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $51.78.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock opened at $46.30 on Monday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.73 and a quick ratio of 0.88. Advance Auto Parts, Inc. has a one year low of $28.89 and a one year high of $70.00. The business’s 50 day simple moving average is $51.58 and its two-hundred day simple moving average is $54.93. The stock has a market capitalization of $2.78 billion, a P/E ratio of -7.36 and a beta of 1.13.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.18. Advance Auto Parts had a negative net margin of 4.37% and a positive return on equity of 0.64%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the business earned ($0.04) earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, January 9th will be given a $0.25 dividend. The ex-dividend date is Friday, January 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. Advance Auto Parts’s payout ratio is presently -15.90%.

Advance Auto Parts Company 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.