Advance Auto Parts, Inc. $AAP Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 15.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,305 shares of the company’s stock after selling 6,883 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Advance Auto Parts worth $1,781,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pzena Investment Management LLC boosted its holdings in Advance Auto Parts by 31.8% during the 1st quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company’s stock valued at $169,093,000 after acquiring an additional 1,041,611 shares during the period. Federated Hermes Inc. lifted its position in shares of Advance Auto Parts by 302.5% during the first quarter. Federated Hermes Inc. now owns 1,358,764 shares of the company’s stock worth $53,277,000 after purchasing an additional 1,021,181 shares in the last quarter. Invenomic Capital Management LP boosted its stake in shares of Advance Auto Parts by 281.2% in the first quarter. Invenomic Capital Management LP now owns 600,895 shares of the company’s stock valued at $23,561,000 after purchasing an additional 443,251 shares during the period. Jump Financial LLC purchased a new position in shares of Advance Auto Parts in the first quarter valued at approximately $15,882,000. Finally, Estuary Capital Management LP grew its holdings in shares of Advance Auto Parts by 31.7% in the first quarter. Estuary Capital Management LP now owns 1,258,270 shares of the company’s stock valued at $49,337,000 after purchasing an additional 303,153 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Trading Down 7.0%

Shares of Advance Auto Parts stock opened at $47.16 on Monday. The company has a 50-day moving average of $58.07 and a two-hundred day moving average of $51.87. Advance Auto Parts, Inc. has a 12-month low of $28.89 and a 12-month high of $70.00. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The stock has a market cap of $2.83 billion, a PE ratio of -7.40 and a beta of 1.08.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, October 30th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.74 by $0.18. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. Advance Auto Parts’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) EPS. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. On average, research analysts anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 9th. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. Advance Auto Parts’s payout ratio is presently -15.90%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Evercore ISI boosted their target price on 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. Wolfe Research began coverage on Advance Auto Parts in a research note on Thursday, September 18th. They issued a “peer perform” rating for the company. Morgan Stanley lowered their price objective on Advance Auto Parts from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday. Mizuho raised their target price on shares of Advance Auto Parts from $44.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $51.78.

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.