Caxton Associates LLP Takes Position in Advance Auto Parts, Inc. $AAP

Caxton Associates LLP acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,238 shares of the company’s stock, valued at approximately $1,068,000.

A number of other hedge funds have also recently added to or reduced their stakes in AAP. Hexagon Capital Partners LLC grew its holdings in Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock worth $28,000 after acquiring an additional 465 shares during the last quarter. Financial Management Professionals Inc. bought a new position in Advance Auto Parts in the 1st quarter worth approximately $49,000. Exchange Traded Concepts LLC raised its position in Advance Auto Parts by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company’s stock worth $91,000 after purchasing an additional 2,140 shares during the last quarter. Quarry LP raised its position in Advance Auto Parts by 688.6% in the 1st quarter. Quarry LP now owns 2,421 shares of the company’s stock worth $95,000 after purchasing an additional 2,114 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Advance Auto Parts by 69.8% in the 1st quarter. Blue Trust Inc. now owns 2,842 shares of the company’s stock worth $111,000 after purchasing an additional 1,168 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock opened at $59.56 on Wednesday. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -9.35 and a beta of 1.06. The firm has a fifty day moving average of $58.56 and a two-hundred day moving average of $46.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. 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 announced its quarterly earnings results on Thursday, August 14th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. Advance Auto Parts’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. As a group, equities research analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be given a $0.25 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Advance Auto Parts’s dividend payout ratio is currently -15.70%.

Insider Activity at Advance Auto Parts

In related news, SVP Jason Hand sold 948 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $48.52, for a total value of $45,996.96. Following the completion of the sale, the senior vice president owned 9,876 shares in the company, valued at $479,183.52. This represents a 8.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AAP. Truist Financial boosted their price objective on shares of Advance Auto Parts from $51.00 to $53.00 and gave the stock a “hold” rating in a research report on Friday, August 15th. Wall Street Zen upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Evercore ISI boosted their price objective on shares of 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. DA Davidson set a $65.00 price objective on shares of Advance Auto Parts in a research report on Thursday, August 14th. Finally, Argus restated a “hold” rating and issued a $60.52 price objective 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 two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $51.78.

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.