Bank of New York Mellon Corp Raises Stock Holdings in Advance Auto Parts, Inc. $AAP

Bank of New York Mellon Corp lifted its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 381,776 shares of the company’s stock after acquiring an additional 19,967 shares during the period. Bank of New York Mellon Corp owned 0.64% of Advance Auto Parts worth $17,749,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Versor Investments LP acquired a new stake in shares of Advance Auto Parts during the 2nd quarter worth about $786,000. AMG National Trust Bank boosted its position in Advance Auto Parts by 29.3% during the second quarter. AMG National Trust Bank now owns 56,403 shares of the company’s stock worth $2,622,000 after acquiring an additional 12,788 shares during the last quarter. Savoir Faire Capital Management L.P. boosted its position in Advance Auto Parts by 101.2% during the second quarter. Savoir Faire Capital Management L.P. now owns 203,818 shares of the company’s stock worth $9,475,000 after acquiring an additional 102,501 shares during the last quarter. Strs Ohio purchased a new stake in Advance Auto Parts in the 2nd quarter worth approximately $921,000. Finally, Teacher Retirement System of Texas raised its holdings in Advance Auto Parts by 4.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,086 shares of the company’s stock valued at $422,000 after acquiring an additional 353 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Advance Auto Parts Stock Down 0.5%

AAP opened at $49.96 on Monday. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $70.00. The firm has a 50 day moving average price of $55.85 and a 200 day moving average price of $53.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The company has a market cap of $3.00 billion, a PE ratio of -7.84 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.18. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the firm earned ($0.04) earnings per share. Advance Auto Parts’s revenue for the quarter was down 5.2% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Sell-side analysts expect that Advance Auto Parts, Inc. will post -0.46 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, January 9th. Advance Auto Parts’s dividend payout ratio is currently -15.90%.

Insider Buying and Selling

In other Advance Auto Parts news, EVP Kristen L. Soler sold 7,662 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $51.00, for a total transaction of $390,762.00. Following the transaction, the executive vice president owned 23,165 shares in the company, valued at $1,181,415. The trade was a 24.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AAP shares. Cfra Research upgraded Advance Auto Parts to a “hold” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday, October 31st. DA Davidson cut their price objective on shares of Advance Auto Parts from $63.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Finally, Evercore ISI boosted their target price on shares of Advance Auto Parts from $56.00 to $58.00 and gave the company an “in-line” rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $51.78.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.