Eaton Vance Management purchased a new stake in AutoZone Inc. (NYSE:AZO) during the second quarter, Holdings Channel reports. The fund purchased 1,100 shares of the company’s stock, valued at approximately $873,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global X Management Co. LLC boosted its position in AutoZone by 89.1% in the second quarter. Global X Management Co. LLC now owns 174 shares of the company’s stock valued at $138,000 after buying an additional 82 shares during the last quarter. Pennsylvania Trust Co acquired a new position in AutoZone during the second quarter valued at about $200,000. Rehmann Capital Advisory Group acquired a new position in AutoZone during the first quarter valued at about $207,000. Parametrica Management Ltd acquired a new position in AutoZone during the first quarter valued at about $237,000. Finally, BB&T Securities LLC acquired a new position in AutoZone during the first quarter valued at about $239,000. 95.55% of the stock is owned by institutional investors.
Shares of AutoZone Inc. (NYSE:AZO) traded down 0.98% on Wednesday, reaching $771.99. The company’s stock had a trading volume of 128,901 shares. The company’s 50 day moving average is $761.32 and its 200-day moving average is $776.45. The stock has a market cap of $22.48 billion, a PE ratio of 18.97 and a beta of 0.42. AutoZone Inc. has a 1-year low of $681.01 and a 1-year high of $819.54.
AutoZone (NYSE:AZO) last released its earnings results on Thursday, September 22nd. The company reported $14.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $14.25 by $0.05. The company earned $3.40 billion during the quarter. AutoZone had a negative return on equity of 69.23% and a net margin of 11.67%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $12.75 earnings per share. On average, equities analysts predict that AutoZone Inc. will post $45.44 earnings per share for the current fiscal year.
Several research firms have recently issued reports on AZO. RBC Capital Markets reissued a “sector perform” rating and issued a $855.00 price target (down previously from $873.00) on shares of AutoZone in a research note on Friday, September 23rd. Argus reissued a “buy” rating and issued a $875.00 price target on shares of AutoZone in a research note on Sunday, July 10th. Wedbush restated an “outperform” rating and issued a $870.00 price objective on shares of AutoZone in a report on Friday, September 23rd. Susquehanna initiated coverage on AutoZone in a report on Thursday, August 25th. They issued a “neutral” rating and a $810.00 price objective for the company. Finally, Zacks Investment Research lowered AutoZone from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $858.24.
In related news, insider Thomas B. Newbern sold 16,870 shares of AutoZone stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $799.82, for a total transaction of $13,492,963.40. Following the completion of the sale, the insider now directly owns 15,977 shares of the company’s stock, valued at $12,778,724.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Earl G. Graves, Jr. sold 1,000 shares of AutoZone stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $795.24, for a total value of $795,240.00. Following the sale, the director now directly owns 4,127 shares of the company’s stock, valued at $3,281,955.48. 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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