SG Americas Securities LLC Buys 18,330 Shares of Advance Auto Parts, Inc. $AAP

SG Americas Securities LLC lifted its position in Advance Auto Parts, Inc. (NYSE:AAP) by 100.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,634 shares of the company’s stock after purchasing an additional 18,330 shares during the quarter. SG Americas Securities LLC owned about 0.06% of Advance Auto Parts worth $2,249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gainplan LLC bought a new position in shares of Advance Auto Parts during the 2nd quarter valued at approximately $700,000. Pzena Investment Management LLC lifted its position in Advance Auto Parts by 1.9% during the second quarter. Pzena Investment Management LLC now owns 4,394,964 shares of the company’s stock valued at $204,322,000 after purchasing an additional 82,456 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in Advance Auto Parts during the second quarter valued at $371,000. Friedenthal Financial purchased a new position in shares of Advance Auto Parts in the 2nd quarter worth $869,000. Finally, Parkwood LLC purchased a new position in shares of Advance Auto Parts in the 2nd quarter worth $16,922,000. 88.70% of the stock is owned by institutional investors.

Insider Activity at Advance Auto Parts

In other news, EVP Kristen L. Soler sold 7,662 shares of the firm’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 transaction, the executive vice president directly owned 23,165 shares of the company’s stock, valued at approximately $1,181,415. This trade represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AAP shares. DA Davidson set a $47.00 target price on shares of Advance Auto Parts in a research report on Monday. Citigroup decreased their price objective on Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Roth Capital reaffirmed a “neutral” rating and issued a $55.00 price objective (up from $50.00) on shares of Advance Auto Parts in a research note on Monday, October 27th. Truist Financial set a $48.00 target price on Advance Auto Parts in a research report on Wednesday, December 17th. Finally, Morgan Stanley lowered their price target on Advance Auto Parts from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st. One research analyst has rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $50.56.

Advance Auto Parts Price Performance

AAP opened at $42.46 on Wednesday. The business has a fifty day moving average of $46.25 and a 200 day moving average of $53.62. The stock has a market cap of $2.55 billion, a P/E ratio of -6.75 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.73 and a debt-to-equity ratio of 1.55. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $70.00.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.18. The business had revenue of $2.04 billion during 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 business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. As a group, sell-side analysts anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, January 9th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, January 9th. Advance Auto Parts’s dividend payout ratio is currently -15.90%.

Advance Auto Parts 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.