Geode Capital Management LLC Purchases 461,761 Shares of Advance Auto Parts, Inc. $AAP

Geode Capital Management LLC boosted its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 48.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,416,636 shares of the company’s stock after buying an additional 461,761 shares during the period. Geode Capital Management LLC owned about 2.36% of Advance Auto Parts worth $65,867,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AAP. Y Intercept Hong Kong Ltd acquired a new stake in shares of Advance Auto Parts during the 1st quarter valued at about $718,000. Cetera Investment Advisers bought a new position in Advance Auto Parts during the first quarter worth about $335,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Advance Auto Parts by 9.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,774 shares of the company’s stock valued at $618,000 after purchasing an additional 1,298 shares in the last quarter. TCW Group Inc. acquired a new stake in Advance Auto Parts during the first quarter valued at approximately $764,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Advance Auto Parts in the 1st quarter valued at approximately $1,135,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Advance Auto Parts Trading Up 6.9%

Shares of NYSE AAP opened at $51.70 on Monday. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $70.00. The company has a 50-day moving average of $54.77 and a two-hundred day moving average of $53.64. The company has a market cap of $3.10 billion, a PE ratio of -8.12 and a beta of 1.06. 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 announced its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. As a group, equities analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 9th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, January 9th. Advance Auto Parts’s dividend payout ratio (DPR) is -15.90%.

Analyst Upgrades and Downgrades

AAP has been the subject of several analyst reports. Truist Financial raised 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. Cfra Research raised Advance Auto Parts to a “hold” rating in a report on Thursday, October 30th. Argus restated a “hold” rating and issued a $60.52 target price on shares of Advance Auto Parts in a research note on Friday, August 29th. Roth Capital reaffirmed a “neutral” rating and issued a $55.00 target price (up previously from $50.00) on shares of Advance Auto Parts in a report on Monday, October 27th. Finally, Wells Fargo & Company increased their target price on shares of Advance Auto Parts from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. One research 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, Advance Auto Parts currently has an average rating of “Reduce” and an average price target of $51.78.

Insider Buying and Selling at Advance Auto Parts

In other news, EVP Kristen L. Soler sold 7,662 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was 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 owned 23,165 shares in the company, valued at $1,181,415. The trade was a 24.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by insiders.

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.