Empowered Funds LLC acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 56,683 shares of the company's stock, valued at approximately $3,527,000. Empowered Funds LLC owned about 0.09% of Advance Auto Parts as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Corient Private Wealth LP acquired a new position in shares of Advance Auto Parts during the second quarter worth approximately $529,000. Bank of America Corp DE acquired a new stake in shares of Advance Auto Parts in the second quarter valued at approximately $59,626,000. Fund 1 Investments LLC acquired a new stake in shares of Advance Auto Parts in the second quarter valued at approximately $12,999,000. Man Group plc bought a new position in Advance Auto Parts in the 2nd quarter worth approximately $311,000. Finally, Jupiter Topco LLC acquired a new position in Advance Auto Parts during the 2nd quarter worth $1,740,000. Institutional investors and hedge funds own 88.70% of the company's stock.
Advance Auto Parts Price Performance
Shares of AAP stock opened at $42.72 on Wednesday. The firm's 50 day moving average price is $54.43 and its two-hundred day moving average price is $54.81. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.85 and a current ratio of 1.75. Advance Auto Parts, Inc. has a 52-week low of $37.89 and a 52-week high of $65.21. The stock has a market cap of $2.58 billion, a PE ratio of 31.18, a PEG ratio of 0.68 and a beta of 1.01.
Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its earnings results on Thursday, August 20th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.81 by $0.22. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.04 billion. Advance Auto Parts had a net margin of 0.97% and a return on equity of 9.84%. The business's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. As a group, analysts forecast that Advance Auto Parts, Inc. will post 2.97 EPS for the current year.
Advance Auto Parts Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 9th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, October 9th. Advance Auto Parts's dividend payout ratio is currently 72.99%.
Wall Street Analysts Forecast Growth
AAP has been the topic of a number of recent research reports. UBS Group decreased their price objective on Advance Auto Parts from $65.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 21st. Mizuho upped their price target on Advance Auto Parts from $54.00 to $58.00 and gave the company a "neutral" rating in a research note on Tuesday, May 26th. Evercore set a $65.00 price target on Advance Auto Parts in a research note on Tuesday, August 4th. BMO Capital Markets reiterated a "market perform" rating on shares of Advance Auto Parts in a report on Friday, August 21st. Finally, DA Davidson lowered their price objective on Advance Auto Parts from $58.00 to $48.00 and set a "neutral" rating for the company in a research report on Friday, August 21st. Two equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Advance Auto Parts presently has a consensus rating of "Hold" and a consensus price target of $50.19.
Check Out Our Latest Research Report on Advance Auto Parts
Advance Auto Parts Company Profile
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Free Report)
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.
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