Envestnet Asset Management Inc. Raises Stake in Advance Auto Parts, Inc. $AAP

Envestnet Asset Management Inc. increased its position in Advance Auto Parts, Inc. (NYSE:AAP) by 355.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,940 shares of the company’s stock after buying an additional 42,109 shares during the period. Envestnet Asset Management Inc. owned about 0.09% of Advance Auto Parts worth $2,508,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AMG National Trust Bank grew its holdings in Advance Auto Parts by 38.1% in the 1st quarter. AMG National Trust Bank now owns 43,615 shares of the company’s stock valued at $1,710,000 after buying an additional 12,040 shares during the period. 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 position in Advance Auto Parts by 1.9% during the second quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company’s stock worth $204,322,000 after purchasing an additional 82,456 shares during the last quarter. Raymond James Financial Inc. raised its stake in 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 purchasing an additional 24,342 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of 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 valued at $107,500,000 after purchasing an additional 13,412 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kristen L. Soler sold 7,662 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $51.00, for a total value of $390,762.00. Following the completion of the transaction, the executive vice president owned 23,165 shares of the company’s stock, valued at approximately $1,181,415. This represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BMO Capital Markets restated a “market perform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a report on Friday, October 31st. Mizuho upped their price target on Advance Auto Parts from $44.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Argus restated a “hold” rating and issued a $60.52 price objective on shares of Advance Auto Parts in a report on Friday, August 29th. DA Davidson decreased their target price on Advance Auto Parts from $63.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a research report on Wednesday, October 8th. 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 presently has a consensus rating of “Reduce” and an average target price of $51.78.

Advance Auto Parts Trading Down 0.5%

NYSE AAP opened at $49.96 on Monday. The stock has a market cap of $3.00 billion, a P/E ratio of -7.84 and a beta of 1.06. The company’s fifty day simple moving average is $55.85 and its 200-day simple moving average is $53.03. 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, Inc. has a 52 week low of $28.89 and a 52 week high of $70.00.

Advance Auto Parts (NYSE:AAP) last released its quarterly 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 negative return on equity of 1.97%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the firm posted ($0.04) EPS. The firm’s quarterly 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. Equities research analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be paid a $0.25 dividend. The ex-dividend date is Friday, January 9th. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Advance Auto Parts’s payout ratio is -15.90%.

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.