The Manufacturers Life Insurance Company Buys New Stake in Advance Auto Parts, Inc. $AAP

The Manufacturers Life Insurance Company bought a new position in Advance Auto Parts, Inc. (NYSE:AAP) during the 2nd quarter, Holdings Channel reports. The fund bought 28,544 shares of the company’s stock, valued at approximately $1,776,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAP. Hsbc Holdings PLC boosted its holdings in Advance Auto Parts by 3.1% during the second quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock valued at $293,000 after acquiring an additional 191 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Advance Auto Parts by 9.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,224 shares of the company’s stock worth $117,000 after purchasing an additional 200 shares during the period. AlphaCore Capital LLC increased its stake in shares of Advance Auto Parts by 53.6% in the fourth quarter. AlphaCore Capital LLC now owns 883 shares of the company’s stock worth $35,000 after purchasing an additional 308 shares during the period. ProShare Advisors LLC lifted its position in shares of Advance Auto Parts by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 11,673 shares of the company’s stock worth $459,000 after purchasing an additional 362 shares during the last quarter. Finally, LPL Financial LLC lifted its position in shares of Advance Auto Parts by 2.0% during the 4th quarter. LPL Financial LLC now owns 19,410 shares of the company’s stock worth $763,000 after purchasing an additional 380 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

AAP has been the subject of several recent analyst reports. Truist Financial set a $43.00 target price on Advance Auto Parts and gave the company a “hold” rating in a research note on Thursday, August 20th. The Goldman Sachs Group set a $49.00 price target on Advance Auto Parts in a research report on Friday, August 21st. Roth Capital set a $48.00 price target on Advance Auto Parts in a report on Friday, August 21st. Wells Fargo & Company reduced their price objective on Advance Auto Parts from $60.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, August 21st. Finally, BMO Capital Markets restated a “market perform” rating on shares of Advance Auto Parts in a research note on Friday, August 21st. Two research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.19.

Advance Auto Parts Stock Down 0.3%

NYSE AAP opened at $42.69 on Friday. Advance Auto Parts, Inc. has a twelve month low of $37.89 and a twelve month high of $65.21. The stock has a market cap of $2.58 billion, a PE ratio of 31.16, a PEG ratio of 0.69 and a beta of 1.01. The firm has a 50-day simple moving average of $53.79 and a 200 day simple moving average of $54.59. 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 (NYSE:AAP) last issued its quarterly 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 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 company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. On average, research analysts forecast that Advance Auto Parts, Inc. will post 2.97 EPS for the current year.

Advance Auto Parts Announces Dividend

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, October 9th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 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.