Advance Auto Parts, Inc. $AAP Stock Position Lifted by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. increased its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,990 shares of the company’s stock after acquiring an additional 23,172 shares during the quarter. Advance Auto Parts comprises 5.0% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 2nd biggest position. Savoir Faire Capital Management L.P. owned 0.38% of Advance Auto Parts worth $13,937,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. lifted its holdings in shares of Advance Auto Parts by 75.7% during the 2nd quarter. Federated Hermes Inc. now owns 2,387,325 shares of the company’s stock valued at $110,987,000 after purchasing an additional 1,028,561 shares during the last quarter. Geode Capital Management LLC raised its stake in Advance Auto Parts by 48.4% in the second quarter. Geode Capital Management LLC now owns 1,416,636 shares of the company’s stock valued at $65,867,000 after buying an additional 461,761 shares during the last quarter. Parkwood LLC acquired a new stake in Advance Auto Parts in the 2nd quarter worth approximately $16,922,000. State Street Corp increased its position in shares of Advance Auto Parts by 13.5% in the 2nd quarter. State Street Corp now owns 2,406,039 shares of the company’s stock valued at $111,857,000 after acquiring an additional 286,148 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Advance Auto Parts by 327.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company’s stock worth $14,230,000 after acquiring an additional 278,066 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Stock Performance

NYSE AAP opened at $46.74 on Monday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -7.43 and a beta of 1.14. The stock has a 50-day moving average of $45.38 and a 200 day moving average of $53.16. The company has a current ratio of 1.73, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $70.00.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the business earned ($0.04) earnings per share. The business’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. Sell-side analysts anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AAP shares. Morgan Stanley cut their price objective on Advance Auto Parts from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. BMO Capital Markets restated a “market perform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday, October 31st. UBS Group set a $40.00 price objective on shares of Advance Auto Parts in a research note on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Advance Auto Parts from $44.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Finally, Evercore ISI lowered their price target on shares of Advance Auto Parts from $58.00 to $56.00 and set an “in-line” rating on the stock in a report on Tuesday, December 16th. Three investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.08.

Insider Activity at Advance Auto Parts

In related news, EVP Kristen L. Soler sold 7,662 shares of the company’s stock in a transaction dated 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 owned 23,165 shares in the company, valued at $1,181,415. This represents a 24.85% decrease in their position. 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 corporate insiders.

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.