Advance Auto Parts, Inc. $AAP Shares Acquired by Pzena Investment Management LLC

Key Points

• Pzena Investment Management LLC has increased its stake in Advance Auto Parts, Inc. (AAP) by 1.9%, now owning approximately 7.33% of the company, equivalent to $204.3 million.
• Analysts have mixed ratings for AAP, with one buy, nineteen holds, and three sell ratings, while the consensus price target is around $52.03.
• Advance Auto Parts declared a quarterly dividend of $0.25 per share, set to be paid on October 24th, indicating a 2.0% dividend yield.

Pzena Investment Management LLC increased its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,394,964 shares of the company's stock after buying an additional 82,456 shares during the quarter. Pzena Investment Management LLC owned about 7.33% of Advance Auto Parts worth $204,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AAP. GAMMA Investing LLC grew its holdings in shares of Advance Auto Parts by 209.3% during the first quarter. GAMMA Investing LLC now owns 4,871 shares of the company's stock worth $191,000 after buying an additional 3,296 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Advance Auto Parts by 132.3% during the first quarter. SG Americas Securities LLC now owns 19,981 shares of the company's stock worth $783,000 after buying an additional 11,378 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Advance Auto Parts by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,310 shares of the company's stock worth $91,000 after buying an additional 2,140 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Advance Auto Parts by 455.0% during the first quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company's stock worth $2,305,000 after buying an additional 48,198 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Advance Auto Parts by 5.2% during the first quarter. Johnson Investment Counsel Inc. now owns 10,773 shares of the company's stock worth $422,000 after buying an additional 528 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AAP shares. Weiss Ratings reissued a "sell (d)" rating on shares of Advance Auto Parts in a report on Wednesday, October 8th. Truist Financial raised their price target on Advance Auto Parts from $51.00 to $53.00 and gave the stock a "hold" rating in a report on Friday, August 15th. Morgan Stanley raised their price target on Advance Auto Parts from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Friday, September 12th. Wolfe Research assumed coverage on Advance Auto Parts in a report on Thursday, September 18th. They issued a "peer perform" rating on the stock. Finally, DA Davidson set a $65.00 price objective on Advance Auto Parts in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Advance Auto Parts has a consensus rating of "Reduce" and a consensus price target of $52.03.

Advance Auto Parts Price Performance

Shares of AAP opened at $49.48 on Monday. Advance Auto Parts, Inc. has a twelve month low of $28.89 and a twelve month high of $70.00. The stock's 50 day moving average is $59.18 and its two-hundred day moving average is $49.68. The firm has a market capitalization of $2.97 billion, a PE ratio of -7.77 and a beta of 1.08. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported ($0.22) earnings per share for the quarter. The business had revenue of $2.58 billion during the quarter. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. Advance Auto Parts has set its Q2 2025 guidance at EPS. Research analysts anticipate that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Advance Auto Parts's payout ratio is -15.70%.

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.

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