Advance Auto Parts, Inc. $AAP Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,620 shares of the company’s stock after acquiring an additional 2,739 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Advance Auto Parts worth $1,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hexagon Capital Partners LLC raised 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 in the last quarter. Parallel Advisors LLC increased its stake in Advance Auto Parts by 355.8% in the second quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock valued at $44,000 after purchasing an additional 733 shares during the period. Exchange Traded Concepts LLC increased its stake in Advance Auto Parts by 1,258.8% in the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company’s stock valued at $91,000 after purchasing an additional 2,140 shares during the period. Quarry LP increased its stake in Advance Auto Parts by 688.6% in the first quarter. Quarry LP now owns 2,421 shares of the company’s stock valued at $95,000 after purchasing an additional 2,114 shares during the period. Finally, Blue Trust Inc. increased its stake in Advance Auto Parts by 69.8% in the first quarter. Blue Trust Inc. now owns 2,842 shares of the company’s stock valued at $111,000 after purchasing an additional 1,168 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on AAP. Truist Financial lifted their price objective on shares of Advance Auto Parts from $51.00 to $53.00 and gave the company a “hold” rating in a research note on Friday, August 15th. Evercore ISI lifted their price objective on shares of Advance Auto Parts from $56.00 to $58.00 and gave the company an “in-line” rating in a research note on Tuesday, August 12th. Argus restated a “hold” rating and issued a $60.52 price objective on shares of Advance Auto Parts in a research note on Friday, August 29th. Mizuho lifted their price objective on shares of Advance Auto Parts from $44.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Advance Auto Parts in a research note on Saturday, September 27th. One analyst has rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Reduce” and an average price target of $52.03.

Advance Auto Parts Stock Down 1.2%

AAP stock opened at $61.42 on Friday. The company has a market cap of $3.68 billion, a P/E ratio of -9.64 and a beta of 1.08. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $70.00. The company’s 50-day moving average price is $59.35 and its 200 day moving average price is $48.99. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. On average, research analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Advance Auto Parts’s dividend payout ratio is -15.70%.

About Advance Auto Parts

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.