Jupiter Topco LLC Acquires New Position in Advance Auto Parts, Inc. $AAP

Key Points

• Jupiter Topco LLC acquired 27,924 shares of Advance Auto Parts worth approximately $1.74 million in the second quarter. Institutional investors collectively own 88.7% of the company.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $50.19 after several firms lowered their targets. The stock opened at $42.69, near its 12-month low of $37.89.
• Advance Auto Parts exceeded quarterly EPS expectations, reporting $1.03 versus the $0.81 consensus, though revenue declined 0.5% year over year. The company also declared a quarterly dividend of $0.25 per share, representing a 2.3% yield.

Jupiter Topco LLC acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 27,924 shares of the company's stock, valued at approximately $1,740,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Advance Auto Parts during the second quarter valued at approximately $581,909,000. Pzena Investment Management LLC purchased a new stake in shares of Advance Auto Parts in the second quarter valued at approximately $273,115,000. Price T Rowe Associates Inc. MD grew its stake in Advance Auto Parts by 18.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,474,546 shares of the company's stock worth $293,751,000 after purchasing an additional 1,190,094 shares in the last quarter. Maple Rock Capital Partners Inc. grew its stake in Advance Auto Parts by 508.2% in the third 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 in the last quarter. Finally, Wellington Management Group LLP purchased a new position in Advance Auto Parts during the 3rd quarter worth $33,610,000. 88.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on AAP. UBS Group decreased their target price on Advance Auto Parts from $65.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, August 21st. Wells Fargo & Company dropped their price target on Advance Auto Parts from $60.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Friday, August 21st. Truist Financial set a $43.00 price objective on Advance Auto Parts and gave the company a "hold" rating in a report on Thursday, August 20th. The Goldman Sachs Group set a $49.00 price objective on shares of Advance Auto Parts in a research note on Friday, August 21st. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Advance Auto Parts in a research note on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Advance Auto Parts has a consensus rating of "Hold" and a consensus price target of $50.19.

Advance Auto Parts Stock Down 0.3%

Advance Auto Parts stock opened at $42.69 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.75 and a debt-to-equity ratio of 1.50. The firm has a market cap of $2.58 billion, a P/E ratio of 31.16, a P/E/G ratio of 0.69 and a beta of 1.01. The business has a fifty day moving average of $53.79 and a two-hundred day moving average of $54.59. Advance Auto Parts, Inc. has a twelve month low of $37.89 and a twelve month high of $65.21.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.22. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.04 billion. Advance Auto Parts had a return on equity of 9.84% and a net margin of 0.97%.The business's revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.69 EPS. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. On average, analysts forecast that Advance Auto Parts, Inc. will post 2.97 earnings per share for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 9th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, October 9th. Advance Auto Parts's payout ratio is 72.99%.

Advance Auto Parts Company 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.

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