Private Management Group Inc. Decreases Stock Holdings in Advance Auto Parts, Inc. $AAP

Key Points

• Private Management Group Inc. cut its Advance Auto Parts stake by 23% during the second quarter, selling 138,587 shares and retaining 465,136 shares worth approximately $28.9 million.
• Advance Auto Parts reported quarterly EPS of $1.03, exceeding the $0.81 consensus estimate, while revenue of $2.0 billion slightly missed expectations and declined 0.5% year over year.
• The stock traded at $42.92, and analysts maintained a broadly cautious outlook with an average “Hold” rating and a $50.19 price target. The company also declared a quarterly dividend of $0.25 per share, yielding about 2.3% annually.

Private Management Group Inc. lowered its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 23.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,136 shares of the company's stock after selling 138,587 shares during the quarter. Private Management Group Inc. owned about 0.77% of Advance Auto Parts worth $28,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Advance Auto Parts during the second quarter valued at about $581,909,000. Price T Rowe Associates Inc. MD grew its position in shares of Advance Auto Parts by 18.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,474,546 shares of the company's stock worth $293,751,000 after buying an additional 1,190,094 shares during the last quarter. Pzena Investment Management LLC bought a new position in shares of Advance Auto Parts during the 2nd quarter worth approximately $273,115,000. Federated Hermes Inc. raised its stake in shares of Advance Auto Parts by 4.4% during the 4th quarter. Federated Hermes Inc. now owns 2,811,675 shares of the company's stock worth $110,499,000 after acquiring an additional 117,648 shares in the last quarter. Finally, State Street Corp boosted its stake in Advance Auto Parts by 3.9% in the fourth quarter. State Street Corp now owns 2,499,981 shares of the company's stock valued at $98,249,000 after acquiring an additional 92,861 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Advance Auto Parts Trading Down 1.7%

NYSE:AAP opened at $42.92 on Friday. Advance Auto Parts, Inc. has a 12 month low of $37.89 and a 12 month high of $65.21. The firm has a fifty day simple moving average of $54.94 and a 200-day simple moving average of $55.03. The company has a current ratio of 1.75, a quick ratio of 0.85 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $2.59 billion, a P/E ratio of 31.33, a PEG ratio of 0.69 and a beta of 1.03.

Advance Auto Parts (NYSE:AAP - Get Free Report) last released its earnings results on Thursday, August 20th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.22. The firm 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 firm's revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. On average, equities research analysts anticipate that Advance Auto Parts, Inc. will post 2.97 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. Advance Auto Parts's dividend payout ratio is currently 72.99%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AAP. Guggenheim reaffirmed a "neutral" rating on shares of Advance Auto Parts in a research report on Friday, August 21st. Royal Bank Of Canada lowered their price objective on Advance Auto Parts from $67.00 to $52.00 and set a "sector perform" rating for the company in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft upgraded Advance Auto Parts to a "buy" rating in a research note on Friday, May 22nd. DA Davidson decreased their price target 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. Finally, Mizuho raised their price target on Advance Auto Parts from $54.00 to $58.00 and gave the stock a "neutral" rating in a report on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $50.19.

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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