Retirement Systems of Alabama reduced its stake in AutoZone Inc. (NYSE:AZO) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 15,224 shares of the company’s stock after selling 70 shares during the period. Retirement Systems of Alabama’s holdings in AutoZone were worth $12,085,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Pennsylvania Trust Co acquired a new position in AutoZone during the second quarter valued at $200,000. Rehmann Capital Advisory Group purchased a new position in shares of AutoZone during the first quarter valued at approximately $207,000. BB&T Securities LLC purchased a new position in shares of AutoZone during the first quarter valued at approximately $239,000. Checchi Capital Advisers LLC boosted its position in shares of AutoZone by 5.2% in the second quarter. Checchi Capital Advisers LLC now owns 347 shares of the company’s stock valued at $275,000 after buying an additional 17 shares in the last quarter. Finally, Leavell Investment Management Inc. purchased a new position in shares of AutoZone during the second quarter valued at approximately $298,000. Hedge funds and other institutional investors own 95.55% of the company’s stock.
Shares of AutoZone Inc. (NYSE:AZO) traded down 0.29% on Tuesday, reaching $758.54. 251,759 shares of the company’s stock were exchanged. AutoZone Inc. has a one year low of $681.01 and a one year high of $819.54. The stock has a market cap of $22.09 billion, a price-to-earnings ratio of 18.64 and a beta of 0.50. The company’s 50 day moving average is $756.39 and its 200-day moving average is $775.52.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Thursday, September 22nd. The company reported $14.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $14.25 by $0.05. AutoZone had a negative return on equity of 69.23% and a net margin of 11.67%. The firm earned $3.40 billion during the quarter. During the same quarter in the previous year, the firm posted $12.75 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts anticipate that AutoZone Inc. will post $45.46 EPS for the current year.
Several equities analysts recently commented on the stock. TheStreet cut shares of AutoZone from a “buy” rating to a “sell” rating in a research note on Wednesday, September 28th. Morgan Stanley raised shares of AutoZone from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $820.00 to $840.00 in a research note on Tuesday, September 27th. Barclays PLC reaffirmed an “overweight” rating and set a $870.00 price objective on shares of AutoZone in a research note on Sunday, September 25th. Robert W. Baird reaffirmed a “neutral” rating and set a $850.00 price objective on shares of AutoZone in a research note on Sunday, September 25th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $855.00 price objective (down previously from $873.00) on shares of AutoZone in a research note on Friday, September 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. AutoZone has an average rating of “Hold” and a consensus target price of $858.24.
In other AutoZone news, VP Ronald B. Griffin sold 4,830 shares of the company’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $804.00, for a total value of $3,883,320.00. Following the completion of the sale, the vice president now directly owns 5,044 shares in the company, valued at approximately $4,055,376. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Albert Saltiel sold 1,650 shares of the company’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $807.52, for a total value of $1,332,408.00. Following the completion of the sale, the vice president now owns 1,734 shares of the company’s stock, valued at $1,400,239.68. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
AutoZone Company Profile
AutoZone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company’s operating segments include Auto Parts Locations and Other. The Auto Parts Locations segment comprises Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation (IMC).
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