The Manufacturers Life Insurance Company bought a new stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 28,544 shares of the company's stock, valued at approximately $1,776,000.
A number of other hedge funds have also made changes to their positions in the stock. Royal Bank of Canada increased its stake in Advance Auto Parts by 107.2% in the 1st quarter. Royal Bank of Canada now owns 79,558 shares of the company's stock valued at $3,119,000 after buying an additional 41,157 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Advance Auto Parts by 327.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company's stock valued at $14,230,000 after buying an additional 278,066 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Advance Auto Parts by 14.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,979 shares of the company's stock valued at $7,096,000 after acquiring an additional 23,018 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Advance Auto Parts by 3.1% during the 2nd quarter. Hsbc Holdings PLC now owns 6,306 shares of the company's stock valued at $293,000 after acquiring an additional 191 shares in the last quarter. Finally, Baird Financial Group Inc. increased its stake in shares of Advance Auto Parts by 2.7% in the second quarter. Baird Financial Group Inc. now owns 56,782 shares of the company's stock worth $2,640,000 after acquiring an additional 1,515 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.
Advance Auto Parts Trading Down 0.3%
Shares of NYSE:AAP opened at $42.69 on Friday. 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 stock has a market capitalization of $2.58 billion, a PE ratio of 31.16, a P/E/G ratio of 0.69 and a beta of 1.01. Advance Auto Parts, Inc. has a 1 year low of $37.89 and a 1 year high of $65.21. The firm has a fifty day moving average price of $53.79 and a 200 day moving average price of $54.59.
Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results on Thursday, August 20th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.22. The company had revenue of $2 billion for the quarter, compared to analyst estimates 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 company earned $0.69 earnings per share. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. Analysts expect that Advance Auto Parts, Inc. will post 2.97 EPS for the current fiscal year.
Advance Auto Parts Dividend Announcement
The business also recently announced 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 yield of 2.3%. The ex-dividend date is Friday, October 9th. Advance Auto Parts's payout ratio is 72.99%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on AAP. UBS Group reduced their price objective 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. The Goldman Sachs Group set a $49.00 price target on Advance Auto Parts in a research note on Friday, August 21st. Evercore set a $65.00 price target on Advance Auto Parts in a report on Tuesday, August 4th. Wells Fargo & Company lowered their price target on Advance Auto Parts from $60.00 to $50.00 and set an "equal weight" rating for the company in a research note on Friday, August 21st. Finally, Roth Capital set a $48.00 price objective on Advance Auto Parts in a report on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $50.19.
View Our Latest Analysis on Advance Auto Parts
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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