Strs Ohio Acquires Shares of 19,800 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 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,800 shares of the company’s stock, valued at approximately $921,000.

Several other large investors also recently added to or reduced their stakes in AAP. REAP Financial Group LLC acquired a new stake in shares of Advance Auto Parts during the 2nd quarter valued at $26,000. Parallel Advisors LLC grew its stake in shares of Advance Auto Parts by 355.8% in the 2nd quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock valued at $44,000 after buying an additional 733 shares in the last quarter. Quarry LP raised its position in Advance Auto Parts by 688.6% during the first quarter. Quarry LP now owns 2,421 shares of the company’s stock valued at $95,000 after acquiring an additional 2,114 shares in the last quarter. Blue Trust Inc. grew its position in Advance Auto Parts by 15.3% in the second quarter. Blue Trust Inc. now owns 3,278 shares of the company’s stock worth $152,000 after acquiring an additional 436 shares in the last quarter. Finally, Freedom Investment Management Inc. bought a new position in shares of Advance Auto Parts during the 2nd quarter valued at $225,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Trading Down 2.6%

Shares of NYSE AAP opened at $47.40 on Friday. 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 $57.09 and a two-hundred day moving average of $52.04. The company has a market cap of $2.85 billion, a PE ratio of -7.44 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 released its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($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 Announces Dividend

The business also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, January 9th. Advance Auto Parts’s dividend payout ratio (DPR) is currently -15.90%.

Analysts Set New Price Targets

A number of research firms have weighed in on AAP. Wells Fargo & Company boosted 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. Cfra Research upgraded shares of Advance Auto Parts to a “hold” rating in a research note on Thursday, October 30th. Mizuho increased their target price 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. Citigroup decreased their price objective on Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Finally, Argus reissued a “hold” rating and issued a $60.52 price target on shares of Advance Auto Parts in a report on Friday, August 29th. One investment analyst has rated the stock with a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Advance Auto Parts currently has a consensus 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.