Fifth Third Bancorp Grows Position in Advance Auto Parts, Inc. $AAP

Fifth Third Bancorp lifted its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 3,521.7% in the first quarter, HoldingsChannel reports. The fund owned 51,827 shares of the company’s stock after acquiring an additional 50,396 shares during the period. Fifth Third Bancorp’s holdings in Advance Auto Parts were worth $2,734,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC increased its stake in Advance Auto Parts by 49.4% in the 1st quarter. Kestra Advisory Services LLC now owns 4,054 shares of the company’s stock worth $214,000 after buying an additional 1,340 shares in the last quarter. Parrish Capital LLC boosted its stake in shares of Advance Auto Parts by 8.8% in the first quarter. Parrish Capital LLC now owns 20,879 shares of the company’s stock worth $1,101,000 after acquiring an additional 1,697 shares during the period. Praxis Investment Management Inc. purchased a new stake in shares of Advance Auto Parts during the first quarter worth about $257,000. Baer Investment Advisory LLC purchased a new stake in shares of Advance Auto Parts during the first quarter worth about $394,000. Finally, Pzena Investment Management LLC lifted its holdings in Advance Auto Parts by 8.2% in the 1st quarter. Pzena Investment Management LLC now owns 4,301,089 shares of the company’s stock worth $226,882,000 after purchasing an additional 327,596 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AAP. Citigroup increased their price objective on shares of Advance Auto Parts from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Weiss Ratings upgraded shares of Advance Auto Parts from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Morgan Stanley raised their target price on shares of Advance Auto Parts from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. BMO Capital Markets lifted their price target on shares of Advance Auto Parts from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Advance Auto Parts to a “buy” rating in a research note on Friday, May 22nd. Two analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.66.

Advance Auto Parts Stock Down 2.3%

Shares of NYSE AAP opened at $51.92 on Tuesday. The firm has a 50-day simple moving average of $56.89 and a two-hundred day simple moving average of $53.46. The company has a market cap of $3.14 billion, a P/E ratio of 72.11, a PEG ratio of 0.88 and a beta of 1.03. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.78 and a quick ratio of 0.85. Advance Auto Parts, Inc. has a 1 year low of $37.89 and a 1 year high of $70.00.

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

Advance Auto Parts Announces Dividend

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

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.