Guggenheim Capital LLC lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 10.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 50,654 shares of the company’s stock after acquiring an additional 4,890 shares during the period. Guggenheim Capital LLC owned approximately 0.19% of AutoZone worth $32,859,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of AutoZone by 3.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 100,226 shares of the company’s stock worth $65,016,000 after purchasing an additional 2,879 shares during the period. American International Group Inc. lifted its holdings in shares of AutoZone by 11.9% during the fourth quarter. American International Group Inc. now owns 9,351 shares of the company’s stock worth $6,652,000 after purchasing an additional 994 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of AutoZone by 106.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 162,370 shares of the company’s stock worth $115,505,000 after purchasing an additional 83,625 shares during the period. State of Tennessee Treasury Department lifted its holdings in shares of AutoZone by 25.9% during the fourth quarter. State of Tennessee Treasury Department now owns 14,677 shares of the company’s stock worth $10,441,000 after purchasing an additional 3,016 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of AutoZone by 164.2% during the fourth quarter. Wells Fargo & Company MN now owns 114,901 shares of the company’s stock worth $81,738,000 after purchasing an additional 71,408 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.
Shares of AutoZone opened at $685.98 on Friday, MarketBeat reports. AutoZone, Inc. has a 12-month low of $491.13 and a 12-month high of $797.89. The company has a market capitalization of $18.20 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 0.97 and a beta of 0.86. The company has a debt-to-equity ratio of -3.64, a current ratio of 0.95 and a quick ratio of 0.14.
AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 22nd. The company reported $13.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $12.99 by $0.43. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.71 billion. AutoZone had a negative return on equity of 96.89% and a net margin of 12.27%. The business’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $11.44 EPS. sell-side analysts anticipate that AutoZone, Inc. will post 49.87 EPS for the current year.
AutoZone declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of research firms recently commented on AZO. Wedbush decreased their target price on AutoZone from $750.00 to $680.00 and set an “outperform” rating for the company in a report on Wednesday, May 23rd. Guggenheim reaffirmed a “neutral” rating on shares of AutoZone in a report on Tuesday, April 17th. Wells Fargo & Co began coverage on AutoZone in a report on Monday, April 23rd. They set an “outperform” rating and a $700.00 target price for the company. Royal Bank of Canada decreased their target price on AutoZone to $668.00 and set a “market perform” rating for the company in a report on Wednesday, May 23rd. Finally, ValuEngine raised AutoZone from a “sell” rating to a “hold” rating in a report on Thursday, May 24th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. AutoZone has an average rating of “Hold” and an average target price of $730.18.
In other AutoZone news, Director Douglas H. Brooks bought 162 shares of AutoZone stock in a transaction dated Monday, April 16th. The stock was acquired at an average cost of $607.49 per share, with a total value of $98,413.38. Following the purchase, the director now directly owns 1,904 shares in the company, valued at approximately $1,156,660.96. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Philip B. Daniele sold 740 shares of the company’s stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $683.54, for a total value of $505,819.60. Following the transaction, the insider now directly owns 1,072 shares of the company’s stock, valued at $732,754.88. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
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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