Glenmede Trust Co. NA boosted its stake in AutoZone, Inc. (NYSE:AZO) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,486 shares of the company’s stock after purchasing an additional 192 shares during the period. Glenmede Trust Co. NA’s holdings in AutoZone were worth $2,478,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in AutoZone by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 1,301,355 shares of the company’s stock valued at $764,272,000 after purchasing an additional 282,939 shares during the period. Nordea Investment Management AB increased its holdings in AutoZone by 4.4% in the third quarter. Nordea Investment Management AB now owns 1,072,553 shares of the company’s stock valued at $638,287,000 after purchasing an additional 45,458 shares during the period. Burgundy Asset Management Ltd. increased its holdings in AutoZone by 1.4% in the fourth quarter. Burgundy Asset Management Ltd. now owns 600,471 shares of the company’s stock valued at $427,157,000 after purchasing an additional 8,451 shares during the period. Millennium Management LLC increased its holdings in AutoZone by 250.1% in the fourth quarter. Millennium Management LLC now owns 446,202 shares of the company’s stock valued at $317,415,000 after purchasing an additional 318,764 shares during the period. Finally, Vulcan Value Partners LLC acquired a new stake in AutoZone in the fourth quarter valued at $291,129,000. Institutional investors and hedge funds own 95.83% of the company’s stock.
Shares of AutoZone, Inc. (AZO) opened at $637.02 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.15 and a debt-to-equity ratio of -3.79. AutoZone, Inc. has a 1-year low of $491.13 and a 1-year high of $797.89. The firm has a market capitalization of $17,359.43, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85.
AutoZone announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of analysts recently weighed in on AZO shares. Raymond James Financial restated a “hold” rating on shares of AutoZone in a report on Saturday, December 2nd. Credit Suisse Group set a $790.00 price objective on AutoZone and gave the company a “hold” rating in a report on Thursday, January 4th. Zacks Investment Research downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 14th. Stephens set a $840.00 price objective on AutoZone and gave the company a “hold” rating in a report on Tuesday, January 16th. Finally, Citigroup increased their price objective on AutoZone to $820.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $754.28.
In other news, VP Richard Craig Smith sold 2,700 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $760.00, for a total value of $2,052,000.00. Following the completion of the sale, the vice president now directly owns 4,500 shares in the company, valued at approximately $3,420,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William W. Graves sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $744.78, for a total value of $7,820,190.00. Following the completion of the sale, the insider now owns 12,574 shares of the company’s stock, valued at $9,364,863.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,737 shares of company stock valued at $12,654,340. 2.80% of the stock is currently owned by company insiders.
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About AutoZone
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 October 27, 2016, the Company operated through 6,029 locations in the United States, Puerto Rico, Mexico and Brazil.
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