Cullinan Associates Inc. reduced its stake in Advance Auto Parts, Inc. (NYSE:AAP) by 38.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,400 shares of the company’s stock after selling 7,000 shares during the quarter. Cullinan Associates Inc.’s holdings in Advance Auto Parts were worth $1,136,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. QS Investors LLC raised its position in shares of Advance Auto Parts by 0.9% in the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after purchasing an additional 9 shares during the last quarter. Federated Investors Inc. PA raised its position in shares of Advance Auto Parts by 763.0% in the 2nd quarter. Federated Investors Inc. PA now owns 1,398 shares of the company’s stock valued at $163,000 after purchasing an additional 1,236 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Advance Auto Parts by 4.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,582 shares of the company’s stock valued at $184,000 after purchasing an additional 68 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Advance Auto Parts by 15.4% in the 2nd quarter. Raymond James Trust N.A. now owns 1,767 shares of the company’s stock valued at $206,000 after purchasing an additional 236 shares during the last quarter. Finally, Veritable L.P. raised its position in shares of Advance Auto Parts by 0.3% in the 2nd quarter. Veritable L.P. now owns 2,008 shares of the company’s stock valued at $234,000 after purchasing an additional 6 shares during the last quarter.

Advance Auto Parts, Inc. (NYSE AAP) opened at $115.35 on Thursday. Advance Auto Parts, Inc. has a 1 year low of $78.81 and a 1 year high of $174.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.32 and a current ratio of 1.52. The stock has a market cap of $8,416.99, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 1.92 and a beta of 1.00.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.18. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the firm posted $1.73 EPS. Advance Auto Parts’s revenue for the quarter was down 3.0% compared to the same quarter last year. equities analysts predict that Advance Auto Parts, Inc. will post 5.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 22nd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Thursday, December 21st. Advance Auto Parts’s dividend payout ratio is presently 5.03%.

AAP has been the subject of several research analyst reports. Raymond James Financial reaffirmed a “market perform” rating on shares of Advance Auto Parts in a research report on Wednesday, October 4th. BTIG Research reaffirmed a “sell” rating and issued a $75.00 price objective (down from $90.00) on shares of Advance Auto Parts in a research report on Wednesday, October 25th. Royal Bank of Canada increased their price objective on shares of Advance Auto Parts from $100.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. Morgan Stanley set a $120.00 price objective on shares of Advance Auto Parts and gave the company a “buy” rating in a research report on Tuesday, December 12th. Finally, Citigroup lowered shares of Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $107.91.

COPYRIGHT VIOLATION WARNING: “Advance Auto Parts, Inc. (AAP) Shares Sold by Cullinan Associates Inc.” was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of US & international copyright law. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/advance-auto-parts-inc-aap-shares-sold-by-cullinan-associates-inc/1811755.html.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAP).

Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with Analyst Ratings Network's FREE daily email newsletter.