Federated Hermes Inc. Purchases 306,702 Shares of Advance Auto Parts, Inc. $AAP

Federated Hermes Inc. increased its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,694,027 shares of the company’s stock after purchasing an additional 306,702 shares during the period. Federated Hermes Inc. owned 4.49% of Advance Auto Parts worth $165,413,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Advance Auto Parts by 48.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,416,636 shares of the company’s stock worth $65,867,000 after buying an additional 461,761 shares in the last quarter. Parkwood LLC bought a new position in shares of Advance Auto Parts in the second quarter worth about $16,922,000. State Street Corp grew its position in shares of Advance Auto Parts by 13.5% during the second quarter. State Street Corp now owns 2,406,039 shares of the company’s stock worth $111,857,000 after purchasing an additional 286,148 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Advance Auto Parts by 327.7% during the first quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company’s stock worth $14,230,000 after purchasing an additional 278,066 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Advance Auto Parts by 436.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 266,111 shares of the company’s stock valued at $12,372,000 after purchasing an additional 216,504 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $49.41 on Wednesday. The company has a market cap of $2.97 billion, a PE ratio of -7.86 and a beta of 1.14. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $70.00. The company has a quick ratio of 0.88, a current ratio of 1.73 and a debt-to-equity ratio of 1.55. The company’s 50-day moving average price is $45.35 and its 200-day moving average price is $52.99.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.18. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. Advance Auto Parts had a positive return on equity of 0.64% and a negative net margin of 4.37%.The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($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 forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kristen L. Soler sold 7,662 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $51.00, for a total value of $390,762.00. Following the sale, the executive vice president directly owned 23,165 shares of the company’s stock, valued at $1,181,415. This represents a 24.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

AAP has been the subject of a number of research analyst reports. Cfra Research raised shares of Advance Auto Parts to a “hold” rating in a report on Thursday, October 30th. UBS Group set a $40.00 target price on shares of Advance Auto Parts in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, January 21st. Evercore ISI decreased their price target on shares of Advance Auto Parts from $58.00 to $56.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 16th. Finally, DA Davidson set a $47.00 price objective on Advance Auto Parts in a research report on Monday, January 12th. Three research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.08.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.