Advance Auto Parts, Inc. $AAP Position Trimmed by Strs Ohio

Key Points

• Strs Ohio sharply reduced its stake in Advance Auto Parts, trimming holdings by 83% in the first quarter and selling 17,600 shares, leaving it with 3,600 shares worth about $190,000.
• Institutional ownership remains high at 88.7%, and several other firms either increased or adjusted their positions, including Goldman Sachs, Royal Bank of Canada, and UBS AM.
• Advance Auto Parts beat earnings expectations in its latest quarter, reporting $0.77 EPS versus $0.39 expected, while revenue came in at $2.61 billion, above estimates; analysts currently rate the stock a consensus Hold.

Strs Ohio trimmed its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 83.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,600 shares of the company's stock after selling 17,600 shares during the period. Strs Ohio's holdings in Advance Auto Parts were worth $190,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Advance Auto Parts by 107.2% during the 1st quarter. Royal Bank of Canada now owns 79,558 shares of the company's stock valued at $3,119,000 after buying an additional 41,157 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Advance Auto Parts by 327.7% in the first 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Advance Auto Parts by 14.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,979 shares of the company's stock valued at $7,096,000 after acquiring an additional 23,018 shares during the period. Hsbc Holdings PLC boosted its stake in Advance Auto Parts by 3.1% in the second quarter. Hsbc Holdings PLC now owns 6,306 shares of the company's stock valued at $293,000 after acquiring an additional 191 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of Advance Auto Parts by 2.7% during the second quarter. Baird Financial Group Inc. now owns 56,782 shares of the company's stock valued at $2,640,000 after purchasing an additional 1,515 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Price Performance

Shares of NYSE:AAP opened at $57.81 on Monday. The firm's 50 day moving average is $57.26 and its two-hundred day moving average is $52.90. The firm has a market capitalization of $3.49 billion, a P/E ratio of 80.29, a PEG ratio of 0.95 and a beta of 1.03. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 1.54. Advance Auto Parts, Inc. has a 52 week low of $37.89 and a 52 week high of $70.00.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.38. Advance Auto Parts had a return on equity of 8.95% and a net margin of 0.51%.The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the company posted $0.40 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.100 EPS. Analysts anticipate that Advance Auto Parts, Inc. will post 2.94 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. Advance Auto Parts's dividend payout ratio is presently 138.89%.

Wall Street Analyst Weigh In

AAP has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on Advance Auto Parts from $64.00 to $59.00 and set a "neutral" rating on the stock in a research report on Friday, May 15th. Morgan Stanley boosted their price objective on Advance Auto Parts from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Friday, May 22nd. Wells Fargo & Company upped their price objective on Advance Auto Parts from $50.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Friday, May 22nd. TD Cowen reaffirmed a "hold" rating on shares of Advance Auto Parts in a research report on Friday, May 22nd. Finally, Citigroup raised their target price on Advance Auto Parts from $57.00 to $60.00 and gave the company a "neutral" rating in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $58.66.

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.

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