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

Wellington Management Group LLP decreased its position in Advance Auto Parts, Inc. (NYSE:AAP) by 17.3% during the 2nd quarter, Holdings Channel reports. The fund owned 641,809 shares of the company’s stock after selling 134,476 shares during the quarter. Wellington Management Group LLP’s holdings in Advance Auto Parts were worth $39,933,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AAP. BlackRock Inc. purchased a new position in Advance Auto Parts during the second quarter worth about $581,909,000. Pzena Investment Management LLC acquired a new position in Advance Auto Parts during the 2nd quarter worth approximately $273,115,000. Price T Rowe Associates Inc. MD raised its stake in shares of Advance Auto Parts by 18.9% during 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 in the last quarter. Bank of America Corp DE purchased a new position in shares of Advance Auto Parts during the 2nd quarter worth approximately $59,626,000. Finally, Maple Rock Capital Partners Inc. lifted its holdings in shares of Advance Auto Parts by 508.2% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 951,790 shares of the company’s stock valued at $58,440,000 after buying an additional 795,290 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAP has been the topic of a number of analyst reports. Citigroup decreased their price target on Advance Auto Parts from $57.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, August 21st. UBS Group decreased their target price on shares of Advance Auto Parts from $65.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 21st. Morgan Stanley lowered their price target on shares of Advance Auto Parts from $65.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, August 21st. Mizuho increased their price target on shares of Advance Auto Parts from $54.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Finally, Barclays decreased their price objective on shares of Advance Auto Parts from $59.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, August 21st. Two equities research 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’s stock. According to MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and an average target price of $50.19.

Advance Auto Parts Price Performance

NYSE:AAP opened at $44.17 on Friday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 0.69 and a beta of 1.01. The company’s 50-day moving average is $53.43 and its two-hundred day moving average is $54.52. Advance Auto Parts, Inc. has a 12-month low of $37.89 and a 12-month high of $65.21. The company has a current ratio of 1.75, a quick ratio of 0.85 and a debt-to-equity ratio of 1.50.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, August 20th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.22. The firm 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 firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. Research analysts expect that Advance Auto Parts, Inc. will post 2.98 EPS for the current year.

Advance Auto Parts Dividend Announcement

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

Advance Auto Parts 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.