Sumitomo Mitsui Asset Management Company LTD boosted its position in AutoZone Inc. (NYSE:AZO) by 1.1% during the second quarter, Holdings Channel reports. The fund owned 2,320 shares of the company’s stock after buying an additional 26 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in AutoZone were worth $1,841,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the company. NN Investment Partners Holdings N.V. purchased a new stake in shares of AutoZone during the first quarter worth approximately $527,000. M&T Bank Corp raised its stake in shares of AutoZone by 64.6% in the first quarter. M&T Bank Corp now owns 3,347 shares of the company’s stock worth $2,667,000 after buying an additional 1,313 shares during the last quarter. ING Groep NV raised its stake in shares of AutoZone by 57.6% in the first quarter. ING Groep NV now owns 870 shares of the company’s stock worth $693,000 after buying an additional 318 shares during the last quarter. Credit Agricole S A raised its stake in shares of AutoZone by 9.6% in the first quarter. Credit Agricole S A now owns 33,458 shares of the company’s stock worth $26,656,000 after buying an additional 2,936 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of AutoZone by 25.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,453 shares of the company’s stock worth $2,751,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 95.93% of the company’s stock.
AutoZone Inc. (NYSE:AZO) traded down 1.12% on Monday, hitting $754.95. The company’s stock had a trading volume of 465,390 shares. AutoZone Inc. has a 12 month low of $681.01 and a 12 month high of $819.54. The firm has a 50 day moving average of $751.04 and a 200-day moving average of $774.05. The stock has a market cap of $21.98 billion, a PE ratio of 18.55 and a beta of 0.50.
AutoZone (NYSE:AZO) last announced 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 negative return on equity of 69.23% and a net margin of 11.67%. The company had revenue of $3.40 billion for the quarter. During the same quarter in the previous year, the company earned $12.75 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that AutoZone Inc. will post $45.46 earnings per share for the current fiscal year.
AZO has been the subject of a number of research reports. Argus reiterated a “buy” rating and issued a $875.00 price objective on shares of AutoZone in a research report on Sunday, July 10th. Zacks Investment Research cut AutoZone from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Morgan Stanley set a $820.00 target price on AutoZone and gave the stock a “hold” rating in a report on Thursday, August 11th. Citigroup Inc. restated a “buy” rating on shares of AutoZone in a report on Thursday, August 25th. Finally, Susquehanna began coverage on AutoZone in a report on Thursday, August 25th. They set a “neutral” rating and a $810.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $858.24.
In other AutoZone news, Director Earl G. Graves, Jr. sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 4,127 shares in the company, valued at $3,281,955.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas B. Newbern sold 16,870 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $799.82, for a total value of $13,492,963.40. Following the completion of the transaction, the insider now owns 15,977 shares in the company, valued at approximately $12,778,724.14. The disclosure for this sale can be found here. 2.40% 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’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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