Campbell & CO Investment Adviser LLC Acquires New Position in Advance Auto Parts, Inc. $AAP

Campbell & CO Investment Adviser LLC acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 26,424 shares of the company’s stock, valued at approximately $1,228,000.

Other hedge funds also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Advance Auto Parts by 5.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,231 shares of the company’s stock worth $32,740,000 after acquiring an additional 36,069 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Advance Auto Parts during the second quarter worth $1,876,000. Bank of New York Mellon Corp boosted its position in Advance Auto Parts by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 381,776 shares of the company’s stock worth $17,749,000 after purchasing an additional 19,967 shares in the last quarter. Versor Investments LP acquired a new stake in Advance Auto Parts in the second quarter valued at $786,000. Finally, AMG National Trust Bank increased its position in shares of Advance Auto Parts by 29.3% in the second quarter. AMG National Trust Bank now owns 56,403 shares of the company’s stock valued at $2,622,000 after buying an additional 12,788 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research report on Wednesday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a report on Friday, October 31st. Morgan Stanley lowered their price target on shares of Advance Auto Parts from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. Truist Financial lifted their price objective on Advance Auto Parts from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Finally, Evercore ISI increased their target price on Advance Auto Parts from $56.00 to $58.00 and gave the company an “in-line” rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating, twenty have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Advance Auto Parts has an average rating of “Reduce” and an average target price of $51.78.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $51.07 on Thursday. The stock has a fifty day moving average price of $56.25 and a 200 day moving average price of $52.64. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $70.00. The firm has a market capitalization of $3.07 billion, a P/E ratio of -8.02 and a beta of 1.06. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results 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 negative return on equity of 1.97% and a negative net margin of 4.37%.The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the business earned ($0.04) EPS. The firm’s revenue was down 5.2% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Equities research analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, January 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 9th. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Advance Auto Parts’s dividend payout ratio (DPR) is currently -15.90%.

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.