Advisor Group Inc. increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 26.7% during the 1st quarter, Holdings Channel reports. The firm owned 1,200 shares of the company’s stock after purchasing an additional 253 shares during the quarter. Advisor Group Inc.’s holdings in AutoZone were worth $1,229,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. W.E. Donoghue & Co. LLC purchased a new position in AutoZone during the first quarter worth about $2,900,000. FMR LLC boosted its holdings in AutoZone by 3.7% during the fourth quarter. FMR LLC now owns 1,403,413 shares of the company’s stock worth $1,176,537,000 after purchasing an additional 49,662 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in AutoZone by 67.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 48,110 shares of the company’s stock worth $40,329,000 after purchasing an additional 19,347 shares during the last quarter. Worldquant Millennium Quantitative Strategies LLC boosted its holdings in AutoZone by 24.0% during the fourth quarter. Worldquant Millennium Quantitative Strategies LLC now owns 7,965 shares of the company’s stock worth $6,677,000 after purchasing an additional 1,544 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in AutoZone by 4.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 990 shares of the company’s stock worth $830,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 92.98% of the company’s stock.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $1,156.00 price target on the stock in a report on Friday, June 7th. Citigroup boosted their target price on shares of AutoZone from $1,206.00 to $1,234.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Wedbush reiterated an “outperform” rating and issued a $1,100.00 target price (up from $1,030.00) on shares of AutoZone in a research note on Wednesday, May 22nd. Wells Fargo & Co reiterated a “buy” rating and issued a $1,140.00 target price on shares of AutoZone in a research note on Tuesday, May 21st. Finally, Credit Suisse Group set a $1,131.00 target price on shares of AutoZone and gave the company a “positive” rating in a research note on Tuesday, April 23rd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $1,017.31.
AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 21st. The company reported $15.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $15.23 by $0.76. The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.77 billion. AutoZone had a net margin of 12.70% and a negative return on equity of 97.19%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $13.42 earnings per share. As a group, equities research analysts anticipate that AutoZone, Inc. will post 62.53 EPS for the current year.
In related news, insider Albert Saltiel sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $1,114.09, for a total transaction of $2,005,362.00. Following the sale, the insider now directly owns 1,965 shares in the company, valued at approximately $2,189,186.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $1,021.86, for a total transaction of $255,465.00. Following the sale, the director now owns 4,357 shares in the company, valued at $4,452,244.02. The disclosure for this sale can be found here. Insiders have sold a total of 32,237 shares of company stock worth $33,558,782 over the last 90 days. 2.80% of the stock is currently owned by corporate insiders.
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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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