Royce & Associates LP Sells 191,143 Shares of Advance Auto Parts, Inc. $AAP

Royce & Associates LP decreased its position in Advance Auto Parts, Inc. (NYSE:AAP) by 14.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,133,416 shares of the company’s stock after selling 191,143 shares during the quarter. Advance Auto Parts accounts for approximately 0.7% of Royce & Associates LP’s holdings, making the stock its 14th biggest holding. Royce & Associates LP owned approximately 1.89% of Advance Auto Parts worth $69,592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in shares of Advance Auto Parts by 1.1% during the third quarter. Amalgamated Bank now owns 17,270 shares of the company’s stock worth $1,060,000 after purchasing an additional 185 shares during the last quarter. Hsbc Holdings PLC lifted its position in Advance Auto Parts by 3.1% during the 2nd quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock worth $293,000 after buying an additional 191 shares in the last quarter. Arizona State Retirement System grew its holdings in Advance Auto Parts by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 17,733 shares of the company’s stock worth $1,089,000 after acquiring an additional 272 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Advance Auto Parts by 2.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 14,535 shares of the company’s stock valued at $676,000 after acquiring an additional 283 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Advance Auto Parts by 0.6% in the third quarter. Envestnet Asset Management Inc. now owns 54,237 shares of the company’s stock worth $3,330,000 after acquiring an additional 297 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on AAP. Morgan Stanley set a $60.00 target price on shares of Advance Auto Parts in a research report on Tuesday, February 17th. Northcoast Research upgraded Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, January 21st. DA Davidson set a $58.00 price objective on Advance Auto Parts in a report on Tuesday, February 17th. Citigroup upgraded Advance Auto Parts from a “hold” rating to a “buy” rating in a report on Wednesday, January 21st. Finally, Evercore set a $60.00 price target on shares of Advance Auto Parts in a report on Wednesday, February 11th. Three analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.03.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $53.15 on Friday. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 72.81, a PEG ratio of 0.72 and a beta of 1.14. The business has a 50-day moving average of $47.71 and a 200-day moving average of $52.19. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.75 and a quick ratio of 0.87. Advance Auto Parts, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $70.00.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Friday, February 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.45. Advance Auto Parts had a return on equity of 6.23% and a net margin of 0.51%.The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the company posted ($10.16) earnings per share. Advance Auto Parts’s revenue was down 1.2% on a year-over-year basis. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. As a group, sell-side analysts predict that Advance Auto Parts, Inc. will post -0.46 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, April 24th. Stockholders of record on Friday, April 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, April 10th. Advance Auto Parts’s dividend payout ratio is presently 136.99%.

About Advance Auto Parts

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.