Russell Investments Group Ltd. Sells 34,084 Shares of Advance Auto Parts, Inc. $AAP

Russell Investments Group Ltd. trimmed its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 12.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,645 shares of the company’s stock after selling 34,084 shares during the quarter. Russell Investments Group Ltd. owned about 0.39% of Advance Auto Parts worth $10,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Advance Auto Parts by 48.4% during the second quarter. Geode Capital Management LLC now owns 1,416,636 shares of the company’s stock worth $65,867,000 after acquiring an additional 461,761 shares in the last quarter. Invenomic Capital Management LP lifted its holdings in shares of Advance Auto Parts by 281.2% during the first quarter. Invenomic Capital Management LP now owns 600,895 shares of the company’s stock valued at $23,561,000 after purchasing an additional 443,251 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Advance Auto Parts during the first quarter valued at approximately $15,882,000. Estuary Capital Management LP boosted its position in shares of Advance Auto Parts by 31.7% in the 1st quarter. Estuary Capital Management LP now owns 1,258,270 shares of the company’s stock worth $49,337,000 after purchasing an additional 303,153 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Advance Auto Parts by 327.7% in the 1st 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. 88.70% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Down 0.3%

AAP stock opened at $52.67 on Wednesday. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $70.00. The business has a fifty day moving average price of $53.43 and a 200-day moving average price of $54.57. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.73 and a quick ratio of 0.88. The stock has a market capitalization of $3.16 billion, a P/E ratio of -8.37 and a beta of 1.13.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.74 by $0.18. Advance Auto Parts had a positive return on equity of 0.64% and a negative net margin of 4.37%.The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the firm posted ($0.04) earnings per share. Advance Auto Parts’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. Equities analysts forecast that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current fiscal 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 $0.25 dividend. The ex-dividend date is Friday, January 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Advance Auto Parts’s payout ratio is currently -15.90%.

Insider Buying and Selling at Advance Auto Parts

In other news, EVP Kristen L. Soler sold 7,662 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $51.00, for a total transaction of $390,762.00. Following the completion of the transaction, the executive vice president directly owned 23,165 shares of the company’s stock, valued at $1,181,415. The trade was a 24.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Mizuho raised their price objective 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. Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, October 8th. Argus reaffirmed a “hold” rating and issued a $60.52 price target on shares of Advance Auto Parts in a research report on Friday, August 29th. DA Davidson dropped their price target on shares of Advance Auto Parts from $63.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Finally, UBS Group set a $40.00 price objective on shares of Advance Auto Parts in a research report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating, twenty have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $51.78.

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.