Sumitomo Life Insurance Co. increased its position in AutoZone, Inc. (NYSE:AZO) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,689 shares of the company’s stock after buying an additional 112 shares during the period. Sumitomo Life Insurance Co.’s holdings in AutoZone were worth $1,534,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in AZO. Stevens Capital Management LP boosted its position in shares of AutoZone by 79.3% in the first quarter. Stevens Capital Management LP now owns 7,688 shares of the company’s stock valued at $5,559,000 after buying an additional 3,400 shares in the last quarter. BTIM Corp. boosted its position in shares of AutoZone by 6.9% in the first quarter. BTIM Corp. now owns 15,462 shares of the company’s stock valued at $11,180,000 after buying an additional 1,002 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of AutoZone by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 105,543 shares of the company’s stock valued at $83,357,000 after buying an additional 544 shares in the last quarter. Iberiabank Corp boosted its position in shares of AutoZone by 32.0% in the second quarter. Iberiabank Corp now owns 1,340 shares of the company’s stock valued at $764,000 after buying an additional 325 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of AutoZone by 2.2% in the first quarter. Pacer Advisors Inc. now owns 507 shares of the company’s stock valued at $367,000 after buying an additional 11 shares in the last quarter. Institutional investors own 96.08% of the company’s stock.
AutoZone, Inc. (NYSE AZO) opened at 510.19 on Friday. The company’s 50-day moving average is $520.66 and its 200-day moving average is $642.60. AutoZone, Inc. has a 12 month low of $491.13 and a 12 month high of $813.70. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 11.79 and a beta of 0.61.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 EPS for the quarter, missing analysts’ consensus estimates of $12.00 by $0.56. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the prior year, the company earned $10.77 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts anticipate that AutoZone, Inc. will post $43.94 earnings per share for the current year.
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Several research analysts have recently weighed in on the stock. Oppenheimer Holdings, Inc. dropped their target price on shares of AutoZone and set an “outperform” rating on the stock in a research report on Thursday, July 20th. ValuEngine raised shares of AutoZone from a “hold” rating to a “buy” rating in a research report on Wednesday, May 24th. Deutsche Bank AG dropped their target price on shares of AutoZone from $800.00 to $650.00 and set a “hold” rating on the stock in a research report on Thursday, May 25th. Citigroup Inc. dropped their target price on shares of AutoZone from $920.00 to $750.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Finally, Morgan Stanley downgraded shares of AutoZone from an “overweight” rating to an “equal weight” rating in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $775.91.
In related news, Director William Andrew Mckenna acquired 300 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The shares were acquired at an average price of $507.00 per share, with a total value of $152,100.00. Following the acquisition, the director now owns 5,131 shares of the company’s stock, valued at approximately $2,601,417. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $602.50, for a total value of $602,500.00. Following the sale, the director now directly owns 4,431 shares in the company, valued at approximately $2,669,677.50. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
AutoZone Company Profile
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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