Los Angeles Capital Management & Equity Research Inc. reduced its stake in AutoZone, Inc. (NYSE:AZO) by 6.0% in the second quarter, HoldingsChannel.com reports. The fund owned 1,402 shares of the company’s stock after selling 89 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in AutoZone were worth $941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Greystone Managed Investments Inc. boosted its holdings in shares of AutoZone by 1.4% in the second quarter. Greystone Managed Investments Inc. now owns 13,060 shares of the company’s stock worth $8,762,000 after acquiring an additional 181 shares during the period. First Interstate Bank raised its position in shares of AutoZone by 332.7% in the second quarter. First Interstate Bank now owns 238 shares of the company’s stock worth $160,000 after buying an additional 183 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of AutoZone by 13.9% in the second quarter. Nisa Investment Advisors LLC now owns 8,320 shares of the company’s stock worth $5,584,000 after buying an additional 1,017 shares in the last quarter. Chesapeake Wealth Management purchased a new stake in shares of AutoZone in the first quarter worth $323,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of AutoZone by 3.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 100,226 shares of the company’s stock worth $65,016,000 after buying an additional 2,879 shares in the last quarter. 92.62% of the stock is owned by hedge funds and other institutional investors.
In other AutoZone news, insider Philip B. Daniele sold 740 shares of the firm’s stock in a transaction dated 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 owns 1,072 shares in the company, valued at $732,754.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Albert Saltiel sold 2,150 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $717.90, for a total value of $1,543,485.00. Following the sale, the insider now owns 2,297 shares in the company, valued at approximately $1,649,016.30. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.
NYSE AZO opened at $765.34 on Friday. AutoZone, Inc. has a twelve month low of $499.10 and a twelve month high of $797.89. The company has a current ratio of 0.95, a quick ratio of 0.14 and a debt-to-equity ratio of -3.64. The stock has a market cap of $19.54 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.12 and a beta of 0.88.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 22nd. The company reported $13.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $12.99 by $0.43. AutoZone had a negative return on equity of 96.89% and a net margin of 12.27%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the business posted $11.44 earnings per share. The company’s revenue for the quarter was down 13.7% on a year-over-year basis. analysts predict that AutoZone, Inc. will post 49.72 EPS for the current fiscal year.
A number of brokerages recently issued reports on AZO. Stephens upgraded AutoZone from an “equal weight” rating to an “overweight” rating and set a $875.00 price objective on the stock in a research report on Wednesday. They noted that the move was a valuation call. Wedbush reiterated an “outperform” rating and issued a $770.00 price objective on shares of AutoZone in a research report on Friday, July 20th. Deutsche Bank upgraded AutoZone from a “hold” rating to a “buy” rating and increased their price objective for the stock from $675.00 to $805.00 in a research report on Wednesday, August 1st. MED upgraded AutoZone from a “hold” rating to a “buy” rating and increased their price objective for the stock from $675.00 to $805.00 in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Wells Fargo & Co increased their price objective on AutoZone from $700.00 to $800.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 12th. They noted that the move was a valuation call. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $747.12.
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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