Profund Advisors LLC lifted its position in shares of AutoZone (NYSE:AZO) by 35.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,073 shares of the company’s stock after acquiring an additional 280 shares during the quarter. Profund Advisors LLC’s holdings in AutoZone were worth $763,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Reliance Trust Co. of Delaware lifted its stake in AutoZone by 14.4% in the 4th quarter. Reliance Trust Co. of Delaware now owns 588 shares of the company’s stock valued at $418,000 after buying an additional 74 shares in the last quarter. Pinebridge Investments L.P. raised its holdings in AutoZone by 13.5% in the 4th quarter. Pinebridge Investments L.P. now owns 656 shares of the company’s stock valued at $467,000 after acquiring an additional 78 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in AutoZone by 5.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,734 shares of the company’s stock valued at $1,032,000 after acquiring an additional 86 shares during the last quarter. Bbva Compass Bancshares Inc. raised its holdings in AutoZone by 22.5% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 469 shares of the company’s stock valued at $334,000 after acquiring an additional 86 shares during the last quarter. Finally, Osborne Partners Capital Management LLC raised its holdings in AutoZone by 1.3% in the 4th quarter. Osborne Partners Capital Management LLC now owns 7,170 shares of the company’s stock valued at $5,101,000 after acquiring an additional 90 shares during the last quarter. 95.83% of the stock is currently owned by institutional investors and hedge funds.
In other AutoZone news, insider James C. Griffith sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $794.70, for a total value of $993,375.00. Following the sale, the insider now owns 1,353 shares in the company, valued at $1,075,229.10. The sale 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 the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $780.37, for a total transaction of $577,473.80. Following the completion of the sale, the insider now owns 1,058 shares in the company, valued at approximately $825,631.46. The disclosure for this sale can be found here. Insiders sold 3,537 shares of company stock worth $2,782,150 in the last three months. 2.60% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. Wedbush upgraded AutoZone from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $670.00 to $750.00 in a report on Thursday. Credit Suisse Group set a $790.00 price objective on AutoZone and gave the stock a “hold” rating in a report on Thursday, January 4th. Citigroup dropped their price objective on AutoZone from $820.00 to $790.00 and set a “buy” rating for the company in a report on Thursday, March 1st. Morgan Stanley dropped their price objective on AutoZone from $800.00 to $750.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Finally, Zacks Investment Research downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 14th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. AutoZone has an average rating of “Hold” and an average target price of $758.72.
Shares of AZO stock traded down $17.02 during trading hours on Friday, hitting $620.36. 361,171 shares of the company were exchanged, compared to its average volume of 386,562. The company has a debt-to-equity ratio of -3.79, a quick ratio of 0.15 and a current ratio of 0.98. AutoZone has a one year low of $491.13 and a one year high of $797.89. The stock has a market capitalization of $16,905.43, a price-to-earnings ratio of 14.41, a PEG ratio of 0.99 and a beta of 0.84.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $8.47 EPS for the quarter, missing the consensus estimate of $8.81 by ($0.34). AutoZone had a negative return on equity of 88.86% and a net margin of 12.00%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the business posted $7.75 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. research analysts forecast that AutoZone will post 48.81 EPS for the current year.
AutoZone announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 20th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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AutoZone, Inc retails and distributes automotive replacement parts and accessories. It 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. The company's 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, thermostats, starters and alternators, and water pumps.
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