Advance Auto Parts, Inc. $AAP Shares Sold by Private Management Group Inc.

Private Management Group Inc. reduced its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 23.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 465,136 shares of the company’s stock after selling 138,587 shares during the period. Private Management Group Inc.’s holdings in Advance Auto Parts were worth $28,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AAP. Hsbc Holdings PLC raised its holdings in shares of Advance Auto Parts by 4.7% during the second quarter. Hsbc Holdings PLC now owns 7,879 shares of the company’s stock worth $490,000 after purchasing an additional 355 shares during the last quarter. Empowered Funds LLC purchased a new stake in Advance Auto Parts in the second quarter valued at $3,527,000. Corient Private Wealth LP purchased a new stake in Advance Auto Parts in the second quarter valued at $529,000. Bank of America Corp DE acquired a new stake in Advance Auto Parts during the 2nd quarter worth about $59,626,000. Finally, Fund 1 Investments LLC purchased a new position in shares of Advance Auto Parts during the 2nd quarter valued at about $12,999,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AAP shares. The Goldman Sachs Group set a $49.00 price objective on Advance Auto Parts in a report on Friday, August 21st. Morgan Stanley reduced their price target on Advance Auto Parts from $65.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, August 21st. UBS Group decreased their price target on Advance Auto Parts from $65.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, August 21st. Evercore set a $65.00 price objective on Advance Auto Parts in a research report on Tuesday, August 4th. Finally, Roth Capital set a $48.00 price objective on shares of Advance Auto Parts in a research note on Friday, August 21st. Two analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and an average target price of $50.19.

Advance Auto Parts Trading Down 1.7%

Shares of Advance Auto Parts stock opened at $42.92 on Friday. The firm has a 50-day simple moving average of $54.94 and a two-hundred day simple moving average of $55.03. 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, Inc. has a fifty-two week low of $37.89 and a fifty-two week high of $65.21. The company has a market cap of $2.59 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 0.69 and a beta of 1.03.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, August 20th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.22. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Advance Auto Parts had a return on equity of 9.84% and a net margin of 0.97%.The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 9th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 9th. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. Advance Auto Parts’s dividend payout ratio is currently 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.