Cooper Creek Partners Management LLC Makes New Investment in Advance Auto Parts, Inc. (NYSE:AAP)

Cooper Creek Partners Management LLC bought a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 1,587,126 shares of the company's stock, valued at approximately $75,055,000. Advance Auto Parts accounts for 2.3% of Cooper Creek Partners Management LLC's holdings, making the stock its 17th biggest holding. Cooper Creek Partners Management LLC owned approximately 2.66% of Advance Auto Parts as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in shares of Advance Auto Parts by 3.9% during the 4th quarter. CIBC Asset Management Inc now owns 5,865 shares of the company's stock worth $277,000 after purchasing an additional 221 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Advance Auto Parts by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company's stock worth $1,242,000 after purchasing an additional 281 shares in the last quarter. Ingalls & Snyder LLC increased its stake in Advance Auto Parts by 5.0% during the 4th quarter. Ingalls & Snyder LLC now owns 6,680 shares of the company's stock valued at $316,000 after purchasing an additional 317 shares in the last quarter. Versant Capital Management Inc raised its holdings in Advance Auto Parts by 207.4% during the fourth quarter. Versant Capital Management Inc now owns 541 shares of the company's stock worth $26,000 after buying an additional 365 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Advance Auto Parts by 38.9% during the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock valued at $79,000 after buying an additional 469 shares during the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Price Performance

NYSE AAP traded up $0.91 during trading hours on Friday, hitting $31.79. The company had a trading volume of 1,617,625 shares, compared to its average volume of 2,220,315. The firm has a 50 day simple moving average of $37.98 and a 200 day simple moving average of $41.09. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $79.41. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 43.55, a PEG ratio of 1.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34.

Advance Auto Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, April 11th. Advance Auto Parts's payout ratio is -17.86%.

Insider Activity

In other Advance Auto Parts news, CEO Shane M. Okelly purchased 1,500 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $36.79 per share, for a total transaction of $55,185.00. Following the acquisition, the chief executive officer now directly owns 183,121 shares in the company, valued at approximately $6,737,021.59. This trade represents a 0.83 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eugene I. Lee, Jr. acquired 14,640 shares of the company's stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $34.15 per share, with a total value of $499,956.00. Following the acquisition, the director now owns 34,070 shares in the company, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Evercore ISI lowered their price objective on Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. Barclays reduced their target price on shares of Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, January 9th. BMO Capital Markets dropped their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. Truist Financial cut their target price on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, Royal Bank of Canada cut their price objective on Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $45.13.

About Advance Auto Parts

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.