Evercore Wealth Management LLC increased its stake in AutoZone Inc. (NYSE:AZO) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 81,985 shares of the company’s stock after buying an additional 1,404 shares during the period. AutoZone comprises about 2.9% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 2nd largest position. Evercore Wealth Management LLC’s holdings in AutoZone were worth $65,083,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services Inc raised its stake in shares of AutoZone by 54.2% in the first quarter. Commonwealth Equity Services Inc now owns 765 shares of the company’s stock valued at $609,000 after buying an additional 269 shares during the period. Prudential Financial Inc. raised its stake in shares of AutoZone by 0.9% in the first quarter. Prudential Financial Inc. now owns 38,764 shares of the company’s stock valued at $30,883,000 after buying an additional 360 shares during the period. Rehmann Capital Advisory Group acquired a new stake in shares of AutoZone during the first quarter valued at $207,000. BlackRock Group LTD raised its stake in shares of AutoZone by 1.3% in the first quarter. BlackRock Group LTD now owns 366,565 shares of the company’s stock valued at $292,037,000 after buying an additional 4,737 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of AutoZone during the first quarter valued at $797,000. Institutional investors own 95.55% of the company’s stock.
Shares of AutoZone Inc. (NYSE:AZO) opened at 768.34 on Monday. The firm has a 50-day moving average of $758.42 and a 200 day moving average of $776.10. AutoZone Inc. has a 52 week low of $681.01 and a 52 week high of $819.54. The company has a market cap of $22.37 billion, a P/E ratio of 18.88 and a beta of 0.50.
AutoZone (NYSE:AZO) last released its earnings results on Thursday, September 22nd. The company reported $14.30 EPS for the quarter, beating the consensus estimate of $14.25 by $0.05. AutoZone had a net margin of 11.67% and a negative return on equity of 69.23%. The firm had revenue of $3.40 billion for the quarter. During the same period in the prior year, the business earned $12.75 earnings per share. AutoZone’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that AutoZone Inc. will post $45.46 earnings per share for the current fiscal year.
AZO has been the topic of several recent research reports. Goldman Sachs Group Inc. set a $841.00 target price on shares of AutoZone and gave the company a “hold” rating in a research report on Monday, September 19th. Citigroup Inc. reiterated a “buy” rating on shares of AutoZone in a research report on Thursday, August 25th. Zacks Investment Research lowered shares of AutoZone from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Morgan Stanley set a $820.00 target price on shares of AutoZone and gave the company a “hold” rating in a research report on Thursday, August 11th. Finally, Argus reiterated a “buy” rating and set a $875.00 target price on shares of AutoZone in a research report on Sunday, July 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $858.24.
In other news, insider Thomas B. Newbern sold 16,870 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $799.82, for a total value of $13,492,963.40. Following the sale, the insider now directly owns 15,977 shares in the company, valued at approximately $12,778,724.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William Andrew Mckenna sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $800.25, for a total transaction of $2,400,750.00. Following the completion of the sale, the director now owns 7,597 shares in the company, valued at $6,079,499.25. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
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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