Factory Mutual Insurance Co. increased its stake in AutoZone, Inc. (NYSE:AZO) by 13.8% during the first quarter, Holdings Channel reports. The fund owned 16,500 shares of the company’s stock after buying an additional 2,000 shares during the period. Factory Mutual Insurance Co. owned approximately 0.06% of AutoZone worth $11,930,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of AZO. State Street Corp increased its stake in AutoZone by 3.1% in the fourth quarter. State Street Corp now owns 1,256,169 shares of the company’s stock valued at $992,105,000 after buying an additional 37,540 shares during the last quarter. Nordea Investment Management AB increased its stake in AutoZone by 2.7% in the third quarter. Nordea Investment Management AB now owns 777,387 shares of the company’s stock valued at $597,298,000 after buying an additional 20,265 shares during the last quarter. Principal Financial Group Inc. increased its stake in AutoZone by 2.4% in the third quarter. Principal Financial Group Inc. now owns 403,980 shares of the company’s stock valued at $310,394,000 after buying an additional 9,433 shares during the last quarter. Fiera Capital Corp increased its stake in AutoZone by 12.0% in the fourth quarter. Fiera Capital Corp now owns 347,739 shares of the company’s stock valued at $274,641,000 after buying an additional 37,203 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its stake in AutoZone by 10.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 295,482 shares of the company’s stock valued at $233,369,000 after buying an additional 28,311 shares during the last quarter. Hedge funds and other institutional investors own 96.42% of the company’s stock.
AutoZone, Inc. (NYSE:AZO) traded up 0.21% during trading on Friday, reaching $707.79. The company had a trading volume of 343,824 shares. AutoZone, Inc. has a 52-week low of $684.48 and a 52-week high of $819.54. The company has a 50 day moving average price of $713.28 and a 200 day moving average price of $749.74. The company has a market capitalization of $20.11 billion, a PE ratio of 16.60 and a beta of 0.58.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, February 28th. The company reported $8.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.20 by $0.12. The firm earned $2.29 billion during the quarter, compared to the consensus estimate of $2.34 billion. AutoZone had a net margin of 11.77% and a negative return on equity of 69.22%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $7.43 earnings per share. On average, equities analysts forecast that AutoZone, Inc. will post $45.33 EPS for the current fiscal year.
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AZO has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating on shares of AutoZone in a report on Tuesday, January 3rd. BTIG Research restated a “buy” rating and set a $900.00 price objective on shares of AutoZone in a report on Tuesday, January 24th. Credit Suisse Group AG set a $812.00 price objective on AutoZone and gave the stock a “buy” rating in a report on Wednesday, March 1st. Cleveland Research downgraded AutoZone from a “buy” rating to a “neutral” rating in a report on Monday, April 3rd. Finally, Zacks Investment Research upgraded AutoZone from a “hold” rating to a “buy” rating and set a $873.00 price objective on the stock in a report on Tuesday, January 17th. One research analyst has 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. AutoZone has an average rating of “Buy” and a consensus price target of $862.50.
In related news, insider William W. Graves sold 12,000 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $736.78, for a total value of $8,841,360.00. Following the completion of the sale, the insider now directly owns 14,667 shares in the company, valued at approximately $10,806,352.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $714.96, for a total value of $714,960.00. Following the completion of the sale, the director now owns 4,431 shares of the company’s stock, valued at $3,167,987.76. The disclosure for this sale can be found here. Insiders sold a total of 27,300 shares of company stock valued at $19,917,242 over the last 90 days. 2.60% of the stock is currently owned by corporate 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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