UBS Oconnor LLC bought a new stake in AutoZone Inc. (NYSE:AZO) during the third quarter, Holdings Channel reports. The firm bought 3,000 shares of the company’s stock, valued at approximately $2,305,000.
A number of other hedge funds also recently added to or reduced their stakes in AZO. Commonwealth Bank of Australia raised its stake in AutoZone by 27.6% in the third quarter. Commonwealth Bank of Australia now owns 162 shares of the company’s stock valued at $125,000 after buying an additional 35 shares during the last quarter. Invictus RG raised its stake in AutoZone by 489.7% in the second quarter. Invictus RG now owns 171 shares of the company’s stock valued at $136,000 after buying an additional 142 shares during the last quarter. Alpha Windward LLC raised its stake in AutoZone by 0.8% in the third quarter. Alpha Windward LLC now owns 242 shares of the company’s stock valued at $186,000 after buying an additional 2 shares during the last quarter. Amica Retiree Medical Trust bought a new stake in AutoZone during the third quarter valued at about $212,000. Finally, Advisor Group Inc. acquired a new stake in AutoZone during the second quarter valued at about $223,000. Institutional investors and hedge funds own 94.78% of the company’s stock.
Shares of AutoZone Inc. (NYSE:AZO) traded down 1.08% on Thursday, hitting $769.90. The stock had a trading volume of 255,533 shares. AutoZone Inc. has a 1-year low of $681.01 and a 1-year high of $819.54. The company has a market capitalization of $22.03 billion, a PE ratio of 18.40 and a beta of 0.62. The firm has a 50-day moving average of $793.28 and a 200 day moving average of $775.05.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 6th. The company reported $9.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.31 by $0.05. AutoZone had a net margin of 11.77% and a negative return on equity of 69.22%. The business earned $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the business earned $8.29 EPS. AutoZone’s revenue was up 3.9% compared to the same quarter last year. On average, equities analysts anticipate that AutoZone Inc. will post $45.54 earnings per share for the current fiscal year.
AZO has been the topic of several research analyst reports. Zacks Investment Research upgraded AutoZone from a “hold” rating to a “buy” rating and set a $889.00 price objective on the stock in a research note on Wednesday, November 23rd. Wedbush restated an “outperform” rating and issued a $870.00 price objective on shares of AutoZone in a research note on Wednesday, December 7th. Barclays PLC reaffirmed an “overweight” rating and issued a $870.00 target price on shares of AutoZone in a research report on Sunday, September 25th. Argus reaffirmed a “buy” rating and issued a $875.00 target price on shares of AutoZone in a research report on Saturday, October 22nd. Finally, Credit Suisse Group AG set a $814.00 target price on AutoZone and gave the company a “buy” rating in a research report on Friday, October 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $868.67.
In related news, insider James C. Griffith sold 660 shares of AutoZone stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $789.79, for a total value of $521,261.40. Following the completion of the transaction, the insider now directly owns 735 shares in the company, valued at approximately $580,495.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Charles Pleas III sold 5,600 shares of AutoZone stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $808.75, for a total transaction of $4,529,000.00. Following the completion of the transaction, the vice president now owns 9,722 shares of the company’s stock, valued at $7,862,667.50. The disclosure for this sale can be found here. Insiders sold a total of 38,260 shares of company stock valued at $30,427,541 over the last quarter. 2.60% of the stock is owned by company insiders.
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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