Bank of America Corp DE Takes Position in Advance Auto Parts, Inc. $AAP

Key Points

• Bank of America acquired 958,302 shares of Advance Auto Parts in the second quarter, worth approximately $59.6 million and representing about 1.59% of the company. Other institutional investors also initiated positions, while institutional ownership reached 88.7%.
• Advance Auto Parts exceeded quarterly earnings expectations, reporting EPS of $1.03 versus the $0.81 consensus estimate, though revenue declined 0.5% year over year to $2 billion. The company maintained fiscal 2026 EPS guidance of $2.60–$3.30.
• Analysts remain cautious, with the stock carrying a consensus “Hold” rating and an average price target of $50.19. Shares recently traded near $42.58, and the company declared a quarterly dividend of $0.25 per share, yielding approximately 2.3%.

Bank of America Corp DE bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 958,302 shares of the company's stock, valued at approximately $59,626,000. Bank of America Corp DE owned approximately 1.59% of Advance Auto Parts at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AAP. Fund 1 Investments LLC acquired a new position in Advance Auto Parts during the 2nd quarter worth approximately $12,999,000. Man Group plc acquired a new stake in shares of Advance Auto Parts in the 2nd quarter valued at $311,000. Jupiter Topco LLC purchased a new stake in shares of Advance Auto Parts during the 2nd quarter worth $1,740,000. Hsbc Holdings PLC purchased a new stake in shares of Advance Auto Parts during the 2nd quarter worth $490,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Advance Auto Parts during the second quarter worth $467,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Advance Auto Parts Trading Up 0.1%

NYSE AAP opened at $42.58 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.85 and a current ratio of 1.75. The firm has a market cap of $2.57 billion, a PE ratio of 31.08, a P/E/G ratio of 0.68 and a beta of 1.01. Advance Auto Parts, Inc. has a one year low of $37.89 and a one year high of $65.20. The firm's fifty day moving average is $50.29 and its two-hundred day moving average is $53.72.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, August 20th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.22. Advance Auto Parts had a net margin of 0.97% and a return on equity of 9.84%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the firm posted $0.69 EPS. Advance Auto Parts's quarterly revenue was down .5% on a year-over-year basis. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. Analysts expect that Advance Auto Parts, Inc. will post 2.98 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 23rd. Investors of record on Friday, October 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, October 9th. Advance Auto Parts's dividend payout ratio is currently 72.99%.

Analyst Ratings Changes

A number of research analysts have recently commented on AAP shares. DA Davidson dropped their price objective on Advance Auto Parts from $58.00 to $48.00 and set a "neutral" rating on the stock in a report on Friday, August 21st. Morgan Stanley dropped their price target on shares of Advance Auto Parts from $65.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Friday, August 21st. Royal Bank Of Canada cut their price objective on shares of Advance Auto Parts from $67.00 to $52.00 and set a "sector perform" rating on the stock in a report on Friday, August 21st. Mizuho boosted their price objective on shares of Advance Auto Parts from $54.00 to $58.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 26th. Finally, BMO Capital Markets restated a "market perform" rating on shares of Advance Auto Parts in a report on Friday, August 21st. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $50.19.

About Advance Auto Parts

Advance Auto Parts, Inc NYSE: AAP is an automotive aftermarket parts provider serving do-it-yourself customers, professional repair shops and commercial customers. The company sells replacement parts, accessories, maintenance items, batteries, engine components, tools and other products used to maintain and repair cars, trucks and other vehicles.

Advance Auto Parts serves customers through a network of retail stores, distribution centers and online channels. Its operations include the Advance Auto Parts and Carquest brands, with products available through company-operated locations, independently operated Carquest stores and commercial delivery programs for professional customers.

The company's business primarily covers the United States, with additional operations and customer service in Canada and certain U.S.

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.