Y Intercept Hong Kong Ltd Has $3.05 Million Stock Position in Advance Auto Parts, Inc. $AAP

Y Intercept Hong Kong Ltd grew its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 257.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,525 shares of the company’s stock after purchasing an additional 47,210 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.11% of Advance Auto Parts worth $3,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AAP. Pzena Investment Management LLC increased its position in shares of Advance Auto Parts by 31.8% during the first quarter. Pzena Investment Management LLC now owns 4,312,508 shares of the company’s stock worth $169,093,000 after acquiring an additional 1,041,611 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Advance Auto Parts by 302.5% during the first quarter. Federated Hermes Inc. now owns 1,358,764 shares of the company’s stock worth $53,277,000 after acquiring an additional 1,021,181 shares in the last quarter. Invenomic Capital Management LP increased its position 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 worth $23,561,000 after acquiring an additional 443,251 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Advance Auto Parts during the first quarter worth about $15,882,000. Finally, Estuary Capital Management LP increased its position in shares of Advance Auto Parts by 31.7% during the first quarter. Estuary Capital Management LP now owns 1,258,270 shares of the company’s stock worth $49,337,000 after acquiring an additional 303,153 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Advance Auto Parts from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. DA Davidson set a $65.00 target price on shares of Advance Auto Parts in a research report on Thursday, August 14th. Roth Capital reissued 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. Truist Financial decreased their target price on shares of Advance Auto Parts from $53.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, October 20th. Finally, 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. One analyst has rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $51.46.

Advance Auto Parts Trading Down 7.6%

Shares of AAP stock opened at $50.92 on Friday. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $70.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The company has a 50-day simple moving average of $58.29 and a two-hundred day simple moving average of $51.49. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -7.99 and a beta of 1.08.

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, topping analysts’ consensus estimates 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 business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the firm posted ($0.04) EPS. 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. Research analysts anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

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

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.