Nissay Asset Management Corp Japan ADV cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 11.3% in the 1st quarter, Holdings Channel reports. The fund owned 3,619 shares of the company’s stock after selling 462 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in AutoZone were worth $3,706,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Berman Capital Advisors LLC acquired a new position in AutoZone during the fourth quarter valued at approximately $26,000. Penserra Capital Management LLC bought a new stake in shares of AutoZone during the fourth quarter worth $30,000. Lindbrook Capital LLC bought a new stake in shares of AutoZone during the fourth quarter worth $35,000. Legacy Bridge LLC bought a new stake in shares of AutoZone during the first quarter worth $38,000. Finally, CX Institutional bought a new stake in shares of AutoZone during the fourth quarter worth $71,000. Hedge funds and other institutional investors own 95.81% of the company’s stock.
A number of research firms have weighed in on AZO. JPMorgan Chase & Co. boosted their target price on shares of AutoZone from $995.00 to $1,126.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Credit Suisse Group set a $1,131.00 target price on shares of AutoZone and gave the stock a “positive” rating in a research note on Tuesday, April 23rd. They noted that the move was a valuation call. Citigroup started coverage on shares of AutoZone in a research note on Monday, April 1st. They set a “buy” rating and a $1,206.00 target price on the stock. Morgan Stanley boosted their price objective on shares of AutoZone from $980.00 to $1,050.00 and gave the stock an “equal weight” rating in a research note on Friday, March 29th. Finally, Evercore ISI started coverage on shares of AutoZone in a research note on Wednesday, March 20th. They issued an “in-line” rating and a $1,030.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $994.50.
AZO stock opened at $989.80 on Wednesday. The firm has a market capitalization of $24.45 billion, a P/E ratio of 19.66, a PEG ratio of 1.32 and a beta of 0.67. AutoZone, Inc. has a 12-month low of $597.00 and a 12-month high of $1,074.67.
AutoZone (NYSE:AZO) last released its earnings results on Tuesday, February 26th. The company reported $11.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.97 by $1.52. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. AutoZone had a net margin of 12.49% and a negative return on equity of 98.24%. AutoZone’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.47 earnings per share. Equities analysts expect that AutoZone, Inc. will post 61.74 EPS for the current year.
In related news, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $1,038.68, for a total value of $259,670.00. Following the transaction, the director now owns 4,357 shares in the company, valued at $4,525,528.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Albert Saltiel sold 2,150 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $912.11, for a total transaction of $1,961,036.50. Following the completion of the transaction, the vice president now owns 2,308 shares in the company, valued at approximately $2,105,149.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,640 shares of company stock worth $10,370,907. 2.80% of the stock is owned by company 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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