Private Management Group Inc. cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,373 shares of the company’s stock after selling 5,532 shares during the quarter. AutoZone makes up about 2.0% of Private Management Group Inc.’s portfolio, making the stock its 11th largest position. Private Management Group Inc. owned approximately 0.20% of AutoZone worth $39,391,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinebridge Investments L.P. raised its holdings in AutoZone by 13.5% during the fourth quarter. Pinebridge Investments L.P. now owns 656 shares of the company’s stock worth $467,000 after buying an additional 78 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in AutoZone by 5.2% during the third quarter. Citizens Financial Group Inc. RI now owns 1,734 shares of the company’s stock worth $1,032,000 after buying an additional 86 shares during the last quarter. Garrison Financial Corp raised its holdings in AutoZone by 1.8% during the third quarter. Garrison Financial Corp now owns 5,116 shares of the company’s stock worth $3,045,000 after buying an additional 89 shares during the last quarter. Osborne Partners Capital Management LLC raised its holdings in AutoZone by 1.3% during the fourth quarter. Osborne Partners Capital Management LLC now owns 7,170 shares of the company’s stock worth $5,101,000 after buying an additional 90 shares during the last quarter. Finally, ETRADE Capital Management LLC raised its holdings in AutoZone by 7.0% during the third quarter. ETRADE Capital Management LLC now owns 1,406 shares of the company’s stock worth $837,000 after buying an additional 92 shares during the last quarter. 95.03% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman William C. Rhodes III sold 26,500 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $701.84, for a total transaction of $18,598,760.00. Following the completion of the sale, the chairman now owns 11,464 shares in the company, valued at $8,045,893.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James C. Griffith sold 1,250 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $794.70, for a total transaction of $993,375.00. Following the sale, the insider now owns 1,353 shares of the company’s stock, valued at approximately $1,075,229.10. The disclosure for this sale can be found here. Insiders have sold 96,710 shares of company stock valued at $69,098,826 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.
Shares of AutoZone, Inc. (NYSE AZO) opened at $725.00 on Friday. AutoZone, Inc. has a 1-year low of $491.13 and a 1-year high of $797.89. The company has a current ratio of 0.93, a quick ratio of 0.14 and a debt-to-equity ratio of -3.27. The stock has a market cap of $19,830.93, a PE ratio of 16.19, a P/E/G ratio of 1.11 and a beta of 0.74.
AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 5th. The company reported $10.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.90 by $0.10. AutoZone had a net margin of 11.66% and a negative return on equity of 78.83%. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the company posted $9.36 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. analysts forecast that AutoZone, Inc. will post 49.64 EPS for the current fiscal year.
AZO has been the topic of several research reports. Deutsche Bank upped their price objective on shares of AutoZone from $625.00 to $700.00 in a report on Thursday, December 7th. Jefferies Group restated a “hold” rating and set a $720.00 price objective on shares of AutoZone in a report on Wednesday, December 6th. Zacks Investment Research downgraded shares of AutoZone from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Argus increased their target price on shares of AutoZone from $675.00 to $875.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Citigroup increased their target price on shares of AutoZone to $820.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $747.06.
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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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