Principal Financial Group Inc. reduced its position in AutoZone, Inc. (NYSE:AZO) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,204 shares of the company’s stock after selling 584 shares during the quarter. Principal Financial Group Inc.’s holdings in AutoZone were worth $39,125,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of AZO. Berman Capital Advisors LLC boosted its stake in shares of AutoZone by 30.3% during the first quarter. Berman Capital Advisors LLC now owns 43 shares of the company’s stock valued at $44,000 after acquiring an additional 10 shares during the last quarter. Scotia Capital Inc. lifted its stake in shares of AutoZone by 1.1% in the 4th quarter. Scotia Capital Inc. now owns 1,112 shares of the company’s stock valued at $932,000 after purchasing an additional 12 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of AutoZone by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 1,574 shares of the company’s stock valued at $1,320,000 after buying an additional 15 shares during the period. Piedmont Investment Advisors Inc. raised its holdings in shares of AutoZone by 0.8% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 2,000 shares of the company’s stock valued at $2,048,000 after buying an additional 16 shares during the period. Finally, ETF Managers Group LLC increased its holdings in AutoZone by 8.4% during the 1st quarter. ETF Managers Group LLC now owns 220 shares of the company’s stock worth $225,000 after purchasing an additional 17 shares during the last quarter. 92.98% of the stock is owned by institutional investors and hedge funds.
AZO has been the subject of a number of research analyst reports. Bank of America upgraded AutoZone from a “neutral” rating to a “buy” rating in a report on Monday, March 11th. Citigroup boosted their price objective on AutoZone from $1,206.00 to $1,234.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Credit Suisse Group reiterated a “hold” rating on shares of AutoZone in a research report on Wednesday, February 20th. Wedbush reissued an “outperform” rating and issued a $1,030.00 price objective (up previously from $970.00) on shares of AutoZone in a research note on Wednesday, February 27th. Finally, Deutsche Bank boosted their price objective on AutoZone from $960.00 to $1,035.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. AutoZone currently has an average rating of “Buy” and a consensus price target of $1,017.31.
In related news, VP Charles Pleas III sold 9,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $1,050.40, for a total transaction of $9,453,600.00. Following the sale, the vice president now owns 13,365 shares of the company’s stock, valued at approximately $14,038,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Albert Saltiel sold 1,800 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $1,114.09, for a total value of $2,005,362.00. Following the sale, the insider now directly owns 1,965 shares in the company, valued at approximately $2,189,186.85. The disclosure for this sale can be found here. Insiders sold a total of 32,237 shares of company stock worth $33,558,782 over the last 90 days. 2.80% of the stock is owned by corporate insiders.
Shares of NYSE:AZO traded up $6.09 during midday trading on Wednesday, hitting $1,101.48. The company had a trading volume of 4,673 shares, compared to its average volume of 310,850. AutoZone, Inc. has a 12 month low of $662.17 and a 12 month high of $1,119.76. The firm has a market capitalization of $27.39 billion, a P/E ratio of 21.91, a P/E/G ratio of 1.44 and a beta of 0.64.
AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $15.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $15.23 by $0.76. AutoZone had a negative return on equity of 97.19% and a net margin of 12.70%. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the company earned $13.42 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts predict that AutoZone, Inc. will post 62.53 earnings per share for the current year.
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AutoZone Company Profile
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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