Fifth Third Bancorp Buys 50,396 Shares of Advance Auto Parts, Inc. $AAP

Fifth Third Bancorp grew its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 3,521.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,827 shares of the company’s stock after buying an additional 50,396 shares during the quarter. Fifth Third Bancorp owned 0.09% of Advance Auto Parts worth $2,734,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Advance Auto Parts in the 3rd quarter worth about $31,000. AlphaCore Capital LLC raised its holdings in shares of Advance Auto Parts by 53.6% during the 4th quarter. AlphaCore Capital LLC now owns 883 shares of the company’s stock valued at $35,000 after buying an additional 308 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Advance Auto Parts by 184.5% during the 4th quarter. Hantz Financial Services Inc. now owns 919 shares of the company’s stock valued at $36,000 after buying an additional 596 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Advance Auto Parts by 290.3% in the 2nd quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock worth $43,000 after buying an additional 688 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in Advance Auto Parts in the 4th quarter worth approximately $55,000. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AAP has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised Advance Auto Parts to a “buy” rating in a research note on Friday, May 22nd. TD Cowen reiterated a “hold” rating on shares of Advance Auto Parts in a research report on Friday, May 22nd. Royal Bank Of Canada raised their target price on shares of Advance Auto Parts from $62.00 to $65.00 and gave the stock a “sector perform” rating in a report on Friday, May 22nd. BMO Capital Markets lifted their target price on shares of Advance Auto Parts from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, May 22nd. Finally, UBS Group upped their price target on shares of Advance Auto Parts from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and a consensus price target of $58.66.

Advance Auto Parts Stock Performance

Shares of AAP opened at $51.92 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 1.54. The business’s 50 day moving average price is $56.89 and its 200-day moving average price is $53.46. Advance Auto Parts, Inc. has a 52 week low of $37.89 and a 52 week high of $70.00. The stock has a market cap of $3.14 billion, a P/E ratio of 72.11, a P/E/G ratio of 0.88 and a beta of 1.03.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, May 21st. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.39 by $0.38. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.05 billion. Advance Auto Parts had a net margin of 0.51% and a return on equity of 8.95%. Advance Auto Parts’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.100 EPS. Equities research analysts anticipate that Advance Auto Parts, Inc. will post 2.94 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. Advance Auto Parts’s payout ratio is 138.89%.

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.