New York State Teachers Retirement System Has $2.47 Million Stock Position in Advance Auto Parts, Inc. $AAP

Key Points

• New York State Teachers Retirement System cut its Advance Auto Parts stake by 29.5% in the first quarter, selling 19,545 shares and ending with 46,776 shares valued at about $2.47 million.
• Advance Auto Parts reported better-than-expected quarterly results, with EPS of $0.77 versus $0.39 expected and revenue of $2.61 billion versus $2.05 billion forecast.
• The company declared a quarterly dividend of $0.25 per share and has a 1.7% annualized yield, while analysts currently rate the stock a consensus Hold with an average target price of $58.66.

New York State Teachers Retirement System cut its holdings in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 29.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,776 shares of the company's stock after selling 19,545 shares during the period. New York State Teachers Retirement System owned about 0.08% of Advance Auto Parts worth $2,467,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. CSM Advisors LLC grew its stake in Advance Auto Parts by 71.6% in the third quarter. CSM Advisors LLC now owns 89,867 shares of the company's stock valued at $5,517,000 after purchasing an additional 37,486 shares in the last quarter. Fluent Financial LLC bought a new stake in shares of Advance Auto Parts during the 4th quarter worth approximately $6,228,000. Royce & Associates LP raised its stake in shares of Advance Auto Parts by 30.5% during the 4th quarter. Royce & Associates LP now owns 1,478,633 shares of the company's stock worth $58,110,000 after purchasing an additional 345,217 shares in the last quarter. Private Management Group Inc. acquired a new stake in shares of Advance Auto Parts in the 4th quarter valued at approximately $20,123,000. Finally, Pzena Investment Management LLC boosted its holdings in shares of Advance Auto Parts by 8.2% in the 1st quarter. Pzena Investment Management LLC now owns 4,301,089 shares of the company's stock valued at $226,882,000 after buying an additional 327,596 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

Advance Auto Parts Stock Performance

AAP opened at $57.81 on Friday. The business has a fifty day simple moving average of $57.26 and a 200 day simple moving average of $52.81. The company has a market capitalization of $3.49 billion, a PE ratio of 80.29, a price-to-earnings-growth ratio of 0.91 and a beta of 1.03. Advance Auto Parts, Inc. has a 1 year low of $37.89 and a 1 year high of $70.00. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.78 and a quick ratio of 0.85.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.38. Advance Auto Parts had a return on equity of 8.95% and a net margin of 0.51%.The firm had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter last year, the business earned $0.40 EPS. The company's quarterly revenue 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. Research analysts expect that Advance Auto Parts, Inc. will post 2.94 EPS for the current year.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Friday, July 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, July 10th. Advance Auto Parts's dividend payout ratio (DPR) is currently 138.89%.

Analysts Set New Price Targets

AAP has been the topic of a number of recent analyst reports. Mizuho boosted their target price on shares of Advance Auto Parts from $54.00 to $58.00 and gave the stock a "neutral" rating in a report on Tuesday, May 26th. BMO Capital Markets increased 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 research note on Friday, May 22nd. Truist Financial lifted their price objective on shares of Advance Auto Parts from $55.00 to $62.00 and gave the company a "hold" rating in a research report on Thursday, May 21st. Morgan Stanley boosted their price objective on shares of Advance Auto Parts from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Advance Auto Parts from $64.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Advance Auto Parts currently has an average rating of "Hold" and an average target price of $58.66.

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.

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