Sentinel Trust Co. LBA cut its position in shares of AutoZone (NYSE:AZO) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,025 shares of the company’s stock after selling 235 shares during the quarter. Sentinel Trust Co. LBA’s holdings in AutoZone were worth $2,863,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in AZO. Flagship Harbor Advisors LLC bought a new stake in shares of AutoZone in the fourth quarter valued at approximately $211,000. First Republic Investment Management Inc. purchased a new position in AutoZone in the 4th quarter worth approximately $202,000. Bfsg LLC purchased a new position in AutoZone in the 4th quarter worth approximately $213,000. Fuller & Thaler Asset Management Inc. purchased a new position in AutoZone in the 3rd quarter worth approximately $179,000. Finally, Paragon Capital Management Ltd purchased a new position in AutoZone in the 4th quarter worth approximately $213,000. Institutional investors and hedge funds own 95.83% of the company’s stock.
In other news, insider Philip B. Daniele sold 740 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $780.37, for a total transaction of $577,473.80. Following the transaction, the insider now owns 1,058 shares in the company, valued at $825,631.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James C. Griffith sold 1,547 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $783.00, for a total transaction of $1,211,301.00. The disclosure for this sale can be found here. Insiders sold 3,537 shares of company stock valued at $2,782,150 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.
NYSE AZO traded down $17.02 on Friday, hitting $620.36. 361,171 shares of the stock were exchanged, compared to its average volume of 386,562. The company has a quick ratio of 0.15, a current ratio of 0.98 and a debt-to-equity ratio of -3.79. The firm has a market capitalization of $17,369.24, a price-to-earnings ratio of 14.41, a PEG ratio of 1.01 and a beta of 0.84. AutoZone has a 52-week low of $491.13 and a 52-week high of $797.89.
AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, February 27th. The company reported $8.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.81 by ($0.34). The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. AutoZone had a net margin of 12.00% and a negative return on equity of 88.86%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.75 earnings per share. equities research analysts anticipate that AutoZone will post 49.48 EPS for the current year.
AutoZone declared that its board has initiated a stock buyback plan on Tuesday, March 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several research analysts have commented on the stock. Wedbush upgraded shares of AutoZone from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $670.00 to $750.00 in a report on Thursday. Credit Suisse Group set a $790.00 price target on shares of AutoZone and gave the stock a “hold” rating in a research note on Thursday, January 4th. Citigroup decreased their price target on shares of AutoZone from $820.00 to $790.00 and set a “buy” rating for the company in a research note on Thursday, March 1st. Morgan Stanley cut their price objective on shares of AutoZone from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Finally, Zacks Investment Research downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $758.72.
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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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