Deutsche Bank AG Purchases Shares of 62,796 Advance Auto Parts, Inc. $AAP

Deutsche Bank AG acquired a new position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 62,796 shares of the company's stock, valued at approximately $3,907,000. Deutsche Bank AG owned about 0.10% of Advance Auto Parts at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Advance Auto Parts by 18.9% during the fourth 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 during the period. Maple Rock Capital Partners Inc. boosted 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 purchasing an additional 795,290 shares during the period. Wellington Management Group LLP purchased a new position in shares of Advance Auto Parts in the 3rd quarter worth approximately $33,610,000. Private Management Group Inc. bought a new position in shares of Advance Auto Parts during the 4th quarter valued at approximately $20,123,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Advance Auto Parts during the 2nd quarter valued at approximately $29,860,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Stock Up 0.0%

Shares of NYSE AAP opened at $43.63 on Wednesday. Advance Auto Parts, Inc. has a 52-week low of $37.89 and a 52-week high of $65.21. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 0.71 and a beta of 1.03. The stock has a 50 day moving average price of $55.89 and a 200 day moving average price of $55.26. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.85 and a current ratio of 1.75.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its earnings results 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 return on equity of 9.84% and a net margin of 0.97%.The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the company posted $0.69 EPS. Advance Auto Parts'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. Sell-side analysts expect that Advance Auto Parts, Inc. will post 2.95 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 9th will be issued 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 presently 72.99%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AAP. Citigroup lowered their price target on Advance Auto Parts from $57.00 to $45.00 and set a "neutral" rating for the company in a research report on Friday, August 21st. TD Cowen cut their price objective on shares of Advance Auto Parts from $61.00 to $45.00 and set a "hold" rating on the stock in a research report on Thursday, August 20th. Truist Financial set a $43.00 price objective on shares of Advance Auto Parts and gave the company a "hold" rating in a research report on Thursday, August 20th. Deutsche Bank Aktiengesellschaft upgraded shares of Advance Auto Parts to a "buy" rating in a report on Friday, May 22nd. Finally, Morgan Stanley dropped their price target on shares of Advance Auto Parts from $65.00 to $52.00 and set an "equal weight" rating for the company in a research note on Friday, August 21st. Two analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $50.80.

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.

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