Bailard Inc. lessened its stake in AutoZone, Inc. (NYSE:AZO) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,668 shares of the company’s stock after selling 10 shares during the quarter. Bailard Inc.’s holdings in AutoZone were worth $1,809,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. First Trust Advisors LP raised its stake in AutoZone by 5.8% during the first quarter. First Trust Advisors LP now owns 24,953 shares of the company’s stock worth $25,555,000 after acquiring an additional 1,373 shares in the last quarter. Fulton Bank N.A. acquired a new position in AutoZone during the second quarter worth about $335,000. WINTON GROUP Ltd increased its stake in shares of AutoZone by 4.8% in the second quarter. WINTON GROUP Ltd now owns 37,522 shares of the company’s stock valued at $41,254,000 after buying an additional 1,707 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of AutoZone by 2.6% in the second quarter. Crossmark Global Holdings Inc. now owns 1,916 shares of the company’s stock valued at $2,107,000 after buying an additional 49 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of AutoZone in the second quarter valued at approximately $372,000. 94.49% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on AZO. Morgan Stanley upped their price objective on AutoZone from $1,050.00 to $1,100.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada upped their target price on AutoZone from $1,091.00 to $1,097.00 and gave the company a “sector perform” rating in a report on Wednesday, September 25th. Citigroup upped their target price on AutoZone from $1,234.00 to $1,357.00 and gave the company a “buy” rating in a report on Friday, September 13th. Oppenheimer upgraded AutoZone from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $900.00 to $1,225.00 in a report on Friday, June 28th. Finally, Goldman Sachs Group began coverage on AutoZone in a report on Thursday, July 11th. They set a “neutral” rating and a $1,183.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $1,135.63.
AZO stock opened at $1,110.00 on Monday. The company has a market capitalization of $27.11 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.39 and a beta of 0.63. AutoZone, Inc. has a fifty-two week low of $716.36 and a fifty-two week high of $1,186.60. The stock has a fifty day moving average of $1,108.82 and a 200-day moving average of $1,086.48.
AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $22.59 earnings per share for the quarter, topping the consensus estimate of $21.80 by $0.79. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. AutoZone had a negative return on equity of 98.67% and a net margin of 13.63%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $18.54 EPS. On average, analysts predict that AutoZone, Inc. will post 65.36 EPS for the current fiscal year.
In other AutoZone news, Director Earl G. Graves, Jr. sold 500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1,077.04, for a total value of $538,520.00. Following the completion of the transaction, the director now owns 4,607 shares in the company, valued at approximately $4,961,923.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.80% of the stock is owned by company insiders.
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.
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