Strs Ohio Makes New Investment in Advance Auto Parts, Inc. $AAP

Strs Ohio purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 19,800 shares of the company’s stock, valued at approximately $921,000.

Several other hedge funds have also added to or reduced their stakes in the business. AMG National Trust Bank increased its holdings in shares of Advance Auto Parts by 38.1% in the first quarter. AMG National Trust Bank now owns 43,615 shares of the company’s stock worth $1,710,000 after acquiring an additional 12,040 shares in the last quarter. Gainplan LLC bought a new position in Advance Auto Parts in the second quarter valued at approximately $700,000. Pzena Investment Management LLC boosted its holdings in shares of Advance Auto Parts by 1.9% in the second quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company’s stock valued at $204,322,000 after buying an additional 82,456 shares during the period. Raymond James Financial Inc. raised its holdings in shares of Advance Auto Parts by 13.0% during the first quarter. Raymond James Financial Inc. now owns 210,886 shares of the company’s stock worth $8,269,000 after acquiring an additional 24,342 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Advance Auto Parts by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company’s stock worth $107,500,000 after purchasing an additional 13,412 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Advance Auto Parts Stock Down 2.6%

AAP opened at $47.40 on Friday. The stock has a fifty day moving average of $57.09 and a 200-day moving average of $52.04. The company has a market capitalization of $2.85 billion, a P/E ratio of -7.44 and a beta of 1.06. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $70.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.18. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) EPS. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. On average, equities analysts expect that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, January 9th. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -15.90%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AAP. Wall Street Zen upgraded Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Wells Fargo & Company increased their price objective on shares of Advance Auto Parts from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, August 15th. Truist Financial increased their price target on Advance Auto Parts from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Thursday, October 30th. Cfra Research raised shares of Advance Auto Parts to a “hold” rating in a research note on Thursday, October 30th. Finally, Evercore ISI boosted their price objective on shares of Advance Auto Parts from $56.00 to $58.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, twenty have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $51.78.

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.