Advance Auto Parts, Inc. $AAP Holdings Boosted by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. boosted its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 101.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 203,818 shares of the company’s stock after buying an additional 102,501 shares during the quarter. Advance Auto Parts makes up approximately 4.6% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 5th biggest holding. Savoir Faire Capital Management L.P. owned about 0.34% of Advance Auto Parts worth $9,475,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. REAP Financial Group LLC purchased a new position in Advance Auto Parts during the second quarter valued at approximately $26,000. Hexagon Capital Partners LLC increased its holdings in Advance Auto Parts by 189.0% during the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock valued at $28,000 after buying an additional 465 shares during the period. Parallel Advisors LLC increased its holdings in Advance Auto Parts by 355.8% during the second quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock valued at $44,000 after buying an additional 733 shares during the period. Quarry LP grew its holdings in Advance Auto Parts by 688.6% in the first quarter. Quarry LP now owns 2,421 shares of the company’s stock worth $95,000 after purchasing an additional 2,114 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings 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 purchasing an additional 436 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on AAP. Wells Fargo & Company lifted their price target on shares of Advance Auto Parts from $45.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, August 15th. Mizuho upped their target price on Advance Auto Parts from $44.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Roth Capital reaffirmed a “neutral” rating and set a $55.00 target price (up from $50.00) on shares of Advance Auto Parts in a research report on Monday. Morgan Stanley upped their target price on Advance Auto Parts from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, September 12th. Finally, Evercore ISI upped their target price on Advance Auto Parts from $56.00 to $58.00 and gave the company an “in-line” rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $51.46.

Advance Auto Parts Price Performance

Shares of AAP opened at $50.92 on Friday. The firm has a market capitalization of $3.05 billion, a PE ratio of -7.99 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $70.00. The company’s fifty day moving average price is $58.29 and its 200-day moving average price is $51.49.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.18. The firm 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%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. On average, equities research analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 9th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. Advance Auto Parts’s payout ratio is -15.70%.

Advance Auto Parts 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.