Cooper Creek Partners Management LLC Sells 182,373 Shares of Advance Auto Parts, Inc. $AAP

Cooper Creek Partners Management LLC trimmed its holdings in Advance Auto Parts, Inc. (NYSE:AAP) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,741,160 shares of the company’s stock after selling 182,373 shares during the period. Advance Auto Parts comprises about 2.5% of Cooper Creek Partners Management LLC’s investment portfolio, making the stock its 13th biggest position. Cooper Creek Partners Management LLC’s holdings in Advance Auto Parts were worth $80,947,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AAP. Cetera Investment Advisers bought a new position in Advance Auto Parts in the 1st quarter worth approximately $335,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Advance Auto Parts by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 674,178 shares of the company’s stock worth $26,435,000 after buying an additional 24,259 shares in the last quarter. Altfest L J & Co. Inc. bought a new position in shares of Advance Auto Parts during the first quarter worth $249,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Advance Auto Parts by 11.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 668,162 shares of the company’s stock valued at $26,199,000 after acquiring an additional 70,104 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Advance Auto Parts in the 1st quarter valued at $7,300,000. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AAP. Evercore ISI increased their price objective 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. DA Davidson dropped their price target on Advance Auto Parts from $63.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Argus reaffirmed a “hold” rating and issued a $60.52 price objective on shares of Advance Auto Parts in a research note on Friday, August 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research report on Wednesday, October 8th. Finally, Citigroup cut their target price on shares of Advance Auto Parts from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, October 31st. One analyst has rated the stock with a Buy rating, twenty have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $51.78.

Advance Auto Parts Price Performance

NYSE:AAP opened at $52.46 on Friday. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of -8.34 and a beta of 1.13. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.73 and a quick ratio of 0.88. The business has a 50 day simple moving average of $52.95 and a 200-day simple moving average of $54.82. Advance Auto Parts, Inc. has a 1 year low of $28.89 and a 1 year high of $70.00.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.18. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Advance Auto Parts had a positive return on equity of 0.64% and a negative net margin of 4.37%.Advance Auto Parts’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Equities analysts forecast that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, January 9th. Advance Auto Parts’s dividend payout ratio (DPR) is -15.90%.

Insider Activity at Advance Auto Parts

In related news, EVP Kristen L. Soler sold 7,662 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $51.00, for a total transaction of $390,762.00. Following the transaction, the executive vice president directly owned 23,165 shares in the company, valued at approximately $1,181,415. This represents a 24.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Advance Auto Parts 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.