Russell Investments Group Ltd. Trims Position in Advance Auto Parts, Inc. $AAP

Russell Investments Group Ltd. decreased its position in Advance Auto Parts, Inc. (NYSE:AAP) by 12.7% during the second quarter, Holdings Channel reports. The fund owned 233,645 shares of the company’s stock after selling 34,084 shares during the period. Russell Investments Group Ltd.’s holdings in Advance Auto Parts were worth $10,862,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Cetera Investment Advisers bought a new stake in Advance Auto Parts during the first quarter valued at approximately $335,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Advance Auto Parts by 9.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,774 shares of the company’s stock worth $618,000 after acquiring an additional 1,298 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Advance Auto Parts by 3.1% during the 1st quarter. Mackenzie Financial Corp now owns 20,765 shares of the company’s stock valued at $814,000 after acquiring an additional 620 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Advance Auto Parts during the 1st quarter valued at $568,000. Finally, Commerce Bank increased its stake in shares of Advance Auto Parts by 14.5% in the 1st quarter. Commerce Bank now owns 14,240 shares of the company’s stock worth $558,000 after purchasing an additional 1,803 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Insider Activity

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the firm’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 transaction, the executive vice president directly owned 23,165 shares in the company, valued at $1,181,415. This trade represents a 24.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.67% of the company’s stock.

Advance Auto Parts Stock Down 0.3%

NYSE:AAP opened at $52.67 on Wednesday. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -8.37 and a beta of 1.13. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $70.00. The company has a current ratio of 1.73, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55. The stock has a fifty day simple moving average of $53.43 and a 200-day simple moving average of $54.57.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.92 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 positive return on equity of 0.64%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the firm posted ($0.04) EPS. The firm’s 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. Analysts anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

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 paid a dividend of $0.25 per share. 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 payout ratio is currently -15.90%.

Analysts Set New Price Targets

AAP has been the topic of several analyst reports. Roth Capital reiterated 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, October 27th. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a research report on Friday, October 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, October 8th. Argus reissued a “hold” rating and set a $60.52 target price on shares of Advance Auto Parts in a research report on Friday, August 29th. Finally, Evercore ISI raised their price target on Advance Auto Parts from $56.00 to $58.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating, twenty have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $51.78.

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.