Blue Sky Asset Management LLC Purchases New Holdings in AutoZone, Inc. (AZO)

Blue Sky Asset Management LLC purchased a new position in shares of AutoZone, Inc. (NYSE:AZO) in the first quarter, HoldingsChannel.com reports. The firm purchased 246 shares of the company’s stock, valued at approximately $252,000.

A number of other institutional investors have also modified their holdings of AZO. Norges Bank acquired a new stake in AutoZone during the 4th quarter worth about $209,031,000. Two Sigma Advisers LP grew its holdings in AutoZone by 766.3% during the 4th quarter. Two Sigma Advisers LP now owns 271,957 shares of the company’s stock worth $227,992,000 after acquiring an additional 240,565 shares during the period. Ackerman Capital Advisors LLC acquired a new stake in AutoZone during the 4th quarter worth about $240,000. Iridian Asset Management LLC CT acquired a new stake in AutoZone during the 4th quarter worth about $167,900,000. Finally, Boston Partners acquired a new stake in AutoZone during the 1st quarter worth about $177,272,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

A number of analysts have weighed in on the company. Credit Suisse Group set a $1,131.00 price target on AutoZone and gave the stock a “positive” rating in a report on Tuesday, April 23rd. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their price target on AutoZone from $995.00 to $1,126.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Citigroup assumed coverage on AutoZone in a report on Monday, April 1st. They set a “buy” rating and a $1,206.00 price target for the company. Morgan Stanley increased their price target on AutoZone from $980.00 to $1,050.00 and gave the stock an “equal weight” rating in a report on Friday, March 29th. Finally, Evercore ISI started coverage on AutoZone in a report on Wednesday, March 20th. They set an “in-line” rating and a $1,030.00 price target for the company. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $994.50.



Shares of AZO opened at $982.56 on Tuesday. The stock has a market capitalization of $24.90 billion, a PE ratio of 19.52, a PEG ratio of 1.35 and a beta of 0.67. AutoZone, Inc. has a one year low of $597.00 and a one year high of $1,074.67.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, February 26th. The company reported $11.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $9.97 by $1.52. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. AutoZone had a negative return on equity of 98.24% and a net margin of 12.49%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $8.47 EPS. Analysts anticipate that AutoZone, Inc. will post 61.74 earnings per share for the current year.

In other AutoZone news, VP Albert Saltiel sold 2,150 shares of AutoZone stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $912.11, for a total transaction of $1,961,036.50. Following the completion of the transaction, the vice president now owns 2,308 shares in the company, valued at approximately $2,105,149.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip B. Daniele sold 740 shares of AutoZone stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $920.00, for a total value of $680,800.00. Following the transaction, the insider now owns 1,105 shares of the company’s stock, valued at approximately $1,016,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,640 shares of company stock valued at $10,370,907. 2.80% of the stock is currently owned by company insiders.

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AutoZone Company Profile

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.

Read More: What is a trade deficit?

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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