Advance Auto Parts, Inc. $AAP Stock Holdings Lowered by Phocas Financial Corp.

Phocas Financial Corp. cut its position in Advance Auto Parts, Inc. (NYSE:AAP) by 57.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,183 shares of the company’s stock after selling 90,415 shares during the quarter. Phocas Financial Corp.’s holdings in Advance Auto Parts were worth $3,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new stake in shares of Advance Auto Parts during the first quarter valued at approximately $342,000. Principal Financial Group Inc. increased its position in Advance Auto Parts by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 294,537 shares of the company’s stock valued at $11,549,000 after acquiring an additional 6,805 shares during the period. Stratos Wealth Partners LTD. raised its stake in Advance Auto Parts by 6.4% during the 1st quarter. Stratos Wealth Partners LTD. now owns 9,811 shares of the company’s stock valued at $385,000 after acquiring an additional 588 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Advance Auto Parts by 22.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 24,088 shares of the company’s stock worth $944,000 after acquiring an additional 4,399 shares during the period. Finally, New York State Common Retirement Fund grew its stake in shares of Advance Auto Parts by 22.2% in the first quarter. New York State Common Retirement Fund now owns 46,558 shares of the company’s stock worth $1,826,000 after purchasing an additional 8,452 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Roth Capital restated a “neutral” rating and set a $55.00 price objective (up from $50.00) on shares of Advance Auto Parts in a research note on Monday, October 27th. Citigroup lowered their target price on shares of Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Wall Street Zen raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, October 8th. Finally, Argus reissued a “hold” rating and set a $60.52 target price on shares of Advance Auto Parts in a report on Friday, August 29th. One equities research analyst has rated the stock with a Buy rating, twenty have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $51.78.

Advance Auto Parts Stock Up 1.2%

NYSE AAP opened at $48.69 on Thursday. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $70.00. The company has a market capitalization of $2.92 billion, a P/E ratio of -7.64 and a beta of 1.06. The company’s 50 day simple moving average is $57.35 and its 200 day simple moving average is $52.07. 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 (NYSE:AAP) last posted 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 analyst estimates of $2.02 billion. During the same quarter in the previous year, the business posted ($0.04) earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Equities research 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 declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors 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 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.