Bank of America Corp DE Grows Stock Holdings in Advance Auto Parts, Inc. $AAP

Key Points

• Bank of America increased its Advance Auto Parts stake by 4.5% in the first quarter, holding 1.06 million shares worth approximately $55.7 million, or 1.75% of the company.
• Institutional ownership remains high at 88.7%, with several major investors—including T. Rowe Price, Maple Rock Capital, Wellington Management, and Ameriprise—also expanding or initiating positions.
• Advance Auto Parts reported quarterly EPS of $0.77, beating the $0.39 consensus estimate, while revenue reached $2.61 billion. Despite the earnings beat, analysts maintain a consensus “Hold” rating with a $58.97 target price, and the stock recently traded at $52.88.

Bank of America Corp DE grew its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056,281 shares of the company's stock after acquiring an additional 45,696 shares during the period. Bank of America Corp DE owned 1.75% of Advance Auto Parts worth $55,719,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AAP. Price T Rowe Associates Inc. MD raised its position in Advance Auto Parts by 18.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,474,546 shares of the company's stock valued at $293,751,000 after purchasing an additional 1,190,094 shares in the last quarter. Maple Rock Capital Partners Inc. lifted its holdings in shares of Advance Auto Parts by 508.2% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 951,790 shares of the company's stock worth $58,440,000 after buying an additional 795,290 shares during the period. Wellington Management Group LLP bought a new position in shares of Advance Auto Parts during the 3rd quarter worth $33,610,000. Private Management Group Inc. bought a new position in shares of Advance Auto Parts during the 4th quarter worth $20,123,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Advance Auto Parts by 196.7% during the third quarter. Ameriprise Financial Inc. now owns 679,926 shares of the company's stock valued at $41,747,000 after buying an additional 450,738 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AAP. JPMorgan Chase & Co. decreased their price objective on Advance Auto Parts from $64.00 to $59.00 and set a "neutral" rating for the company in a report on Friday, May 15th. Royal Bank Of Canada raised their target price on shares of Advance Auto Parts from $62.00 to $65.00 and gave the company a "sector perform" rating in a research report on Friday, May 22nd. BMO Capital Markets boosted their price target on shares of Advance Auto Parts from $60.00 to $65.00 and gave the company a "market perform" rating in a report 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, Wells Fargo & Company increased their price objective on shares of Advance Auto Parts from $50.00 to $60.00 and gave the company an "equal weight" rating in a research note on Friday, May 22nd. Two research 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.com, Advance Auto Parts has an average rating of "Hold" and a consensus target price of $58.97.

Advance Auto Parts Stock Down 5.1%

Shares of Advance Auto Parts stock opened at $52.88 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 1.54. The company has a market cap of $3.19 billion, a P/E ratio of 73.45, a PEG ratio of 0.92 and a beta of 1.03. The firm's 50 day moving average price is $57.50 and its 200-day moving average price is $55.12. Advance Auto Parts, Inc. has a 52-week low of $37.89 and a 52-week high of $65.21.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results on Thursday, May 21st. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.38. Advance Auto Parts had a net margin of 0.51% and a return on equity of 8.95%. The company had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. Advance Auto Parts'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. On average, sell-side analysts predict that Advance Auto Parts, Inc. will post 2.94 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Advance Auto Parts's dividend payout ratio (DPR) is presently 138.89%.

About Advance Auto Parts

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.

Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source