Bridges Investment Management Inc. held its position in shares of AutoZone, Inc. (NYSE:AZO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400 shares of the company’s stock at the end of the second quarter. Bridges Investment Management Inc.’s holdings in AutoZone were worth $228,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in AZO. BlackRock Inc. raised its position in AutoZone by 2,993.2% in the first quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock worth $1,467,778,000 after buying an additional 1,964,358 shares during the last quarter. OppenheimerFunds Inc. raised its position in AutoZone by 103.6% in the first quarter. OppenheimerFunds Inc. now owns 693,624 shares of the company’s stock worth $501,525,000 after buying an additional 352,990 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in AutoZone during the first quarter worth approximately $114,285,000. JPMorgan Chase & Co. raised its position in AutoZone by 24.5% in the first quarter. JPMorgan Chase & Co. now owns 637,592 shares of the company’s stock worth $461,012,000 after buying an additional 125,566 shares during the last quarter. Finally, Burgundy Asset Management Ltd. raised its position in AutoZone by 35.8% in the first quarter. Burgundy Asset Management Ltd. now owns 401,278 shares of the company’s stock worth $290,144,000 after buying an additional 105,796 shares during the last quarter. 96.08% of the stock is owned by institutional investors and hedge funds.
AutoZone, Inc. (AZO) traded down 1.04% on Friday, hitting $510.19. The stock had a trading volume of 870,425 shares. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 11.79 and a beta of 0.61. The company’s 50 day moving average price is $520.66 and its 200 day moving average price is $642.60. AutoZone, Inc. has a 52-week low of $491.13 and a 52-week high of $813.70.
AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 EPS for the quarter, missing the Zacks’ consensus estimate of $12.00 by $0.56. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the business posted $10.77 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. Analysts expect that AutoZone, Inc. will post $43.94 EPS for the current year.
A number of research firms have recently commented on AZO. Deutsche Bank AG cut their price target on AutoZone from $800.00 to $650.00 and set a “hold” rating for the company in a report on Thursday, May 25th. BTIG Research reaffirmed a “buy” rating and issued a $825.00 price target on shares of AutoZone in a report on Wednesday, May 24th. CIBC reaffirmed a “buy” rating and issued a $900.00 price target on shares of AutoZone in a report on Wednesday, May 24th. Oppenheimer Holdings, Inc. set a $900.00 price target on AutoZone and gave the stock a “buy” rating in a report on Tuesday, May 23rd. Finally, Bank of America Corporation lowered AutoZone from a “buy” rating to a “neutral” rating and cut their price target for the stock from $750.00 to $575.00 in a report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $775.91.
In related news, Director Earl G. Graves, Jr. sold 1,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $602.50, for a total value of $602,500.00. Following the completion of the transaction, the director now owns 4,431 shares of the company’s stock, valued at approximately $2,669,677.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William Andrew Mckenna purchased 300 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was acquired at an average cost of $507.00 per share, with a total value of $152,100.00. Following the acquisition, the director now owns 5,131 shares in the company, valued at approximately $2,601,417. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by company insiders.
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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