Bank of New York Mellon Corp bought a new position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 479,914 shares of the company's stock, valued at approximately $29,860,000. Bank of New York Mellon Corp owned 0.79% of Advance Auto Parts at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in Advance Auto Parts in the third quarter valued at $31,000. State of Wyoming bought a new stake in Advance Auto Parts during the second quarter worth $34,000. AlphaCore Capital LLC lifted its stake in Advance Auto Parts by 53.6% in the fourth quarter. AlphaCore Capital LLC now owns 883 shares of the company's stock valued at $35,000 after acquiring an additional 308 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of Advance Auto Parts by 184.5% in the 4th quarter. Hantz Financial Services Inc. now owns 919 shares of the company's stock valued at $36,000 after acquiring an additional 596 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Advance Auto Parts by 290.3% in the 2nd quarter. Smartleaf Asset Management LLC now owns 925 shares of the company's stock valued at $43,000 after acquiring an additional 688 shares during the period. 88.70% of the stock is owned by institutional investors.
Advance Auto Parts Trading Down 1.7%
AAP stock opened at $42.92 on Friday. 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 company's 50-day simple moving average is $54.94 and its 200 day simple moving average is $55.03. Advance Auto Parts, Inc. has a 52 week low of $37.89 and a 52 week high of $65.21. The company has a market capitalization of $2.59 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 0.69 and a beta of 1.03.
Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.04 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The business's 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. As a group, sell-side analysts anticipate that Advance Auto Parts, Inc. will post 2.97 earnings per share for the current year.
Advance Auto Parts Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 9th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, October 9th. Advance Auto Parts's payout ratio is 72.99%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Mizuho raised their target price on shares of Advance Auto Parts from $54.00 to $58.00 and gave the company a "neutral" rating in a research note on Tuesday, May 26th. Guggenheim reissued a "neutral" rating on shares of Advance Auto Parts in a research report on Friday, August 21st. Citigroup dropped their price objective on Advance Auto Parts from $57.00 to $45.00 and set a "neutral" rating on the stock in a research note on Friday, August 21st. Deutsche Bank Aktiengesellschaft raised Advance Auto Parts to a "buy" rating in a research report on Friday, May 22nd. Finally, DA Davidson reduced their target price on Advance Auto Parts from $58.00 to $48.00 and set a "neutral" rating for the company in a research note on Friday, August 21st. Two analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Advance Auto Parts has an average rating of "Hold" and an average price target of $50.19.
Check Out Our Latest Report on AAP
Advance Auto Parts Profile
(
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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