SPF Beheer BV boosted its stake in AutoZone, Inc. (NYSE:AZO) by 18.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,207 shares of the company’s stock after acquiring an additional 16,856 shares during the quarter. AutoZone accounts for 3.0% of SPF Beheer BV’s portfolio, making the stock its 24th largest position. SPF Beheer BV owned approximately 0.40% of AutoZone worth $70,193,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in AutoZone by 3.1% in the 1st quarter. BlackRock Inc. now owns 1,907,100 shares of the company’s stock valued at $1,237,117,000 after acquiring an additional 56,974 shares in the last quarter. JPMorgan Chase & Co. increased its stake in AutoZone by 10.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,792,694 shares of the company’s stock valued at $1,162,902,000 after buying an additional 165,885 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in AutoZone by 6.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 823,963 shares of the company’s stock valued at $534,497,000 after buying an additional 46,590 shares during the last quarter. Burgundy Asset Management Ltd. increased its stake in AutoZone by 1.4% in the 4th quarter. Burgundy Asset Management Ltd. now owns 600,471 shares of the company’s stock valued at $427,157,000 after buying an additional 8,451 shares during the last quarter. Finally, Millennium Management LLC increased its stake in AutoZone by 250.1% in the 4th quarter. Millennium Management LLC now owns 446,202 shares of the company’s stock valued at $317,415,000 after buying an additional 318,764 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Douglas H. Brooks purchased 162 shares of the business’s stock in a transaction dated Monday, April 16th. The stock was bought at an average price of $607.49 per share, with a total value of $98,413.38. Following the acquisition, the director now owns 1,904 shares in the company, valued at approximately $1,156,660.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $505,819.60. Following the sale, the insider now directly owns 1,072 shares of the company’s stock, valued at approximately $732,754.88. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.
AutoZone opened at $670.93 on Friday, according to Marketbeat. The company has a quick ratio of 0.14, a current ratio of 0.95 and a debt-to-equity ratio of -3.64. The stock has a market capitalization of $17.94 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.02 and a beta of 0.86. AutoZone, Inc. has a 12-month low of $491.13 and a 12-month high of $797.89.
AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 22nd. The company reported $13.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $12.99 by $0.43. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.71 billion. AutoZone had a net margin of 12.27% and a negative return on equity of 96.89%. The business’s revenue for the quarter was down 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $11.44 EPS. research analysts forecast that AutoZone, Inc. will post 49.87 EPS for the current fiscal year.
AutoZone announced that its Board of Directors has authorized a share buyback program on Tuesday, March 20th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
AZO has been the topic of several recent research reports. Argus reiterated a “buy” rating and issued a $850.00 price target (down from $875.00) on shares of AutoZone in a research note on Wednesday, April 25th. Wedbush upgraded shares of AutoZone from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $670.00 to $750.00 in a research note on Thursday, April 5th. ValuEngine lowered shares of AutoZone from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, Credit Suisse Group upgraded shares of AutoZone to a “buy” rating and set a $790.00 price objective on the stock in a research note on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $733.71.
AutoZone Company Profile
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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