Evercore Wealth Management LLC Increases Stake in AutoZone Inc. (AZO)
Evercore Wealth Management LLC raised its position in AutoZone Inc. (NYSE:AZO) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,985 shares of the company’s stock after buying an additional 1,404 shares during the period. AutoZone makes up approximately 2.9% of Evercore Wealth Management LLC’s holdings, making the stock its 2nd largest position. Evercore Wealth Management LLC owned 0.28% of AutoZone worth $65,083,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Invictus RG increased its stake in AutoZone by 489.7% in the second quarter. Invictus RG now owns 171 shares of the company’s stock worth $136,000 after buying an additional 142 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of 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 in the last quarter. First Personal Financial Services increased its stake in shares of AutoZone by 126.3% in the second quarter. First Personal Financial Services now owns 215 shares of the company’s stock valued at $171,000 after buying an additional 120 shares in the last quarter. Pennsylvania Trust Co bought a new stake in shares of AutoZone during the second quarter valued at about $200,000. Finally, Rehmann Capital Advisory Group bought a new stake in shares of AutoZone during the first quarter valued at about $207,000. 95.55% of the stock is currently owned by institutional investors.
Shares of AutoZone Inc. (NYSE:AZO) opened at 768.34 on Monday. AutoZone Inc. has a 52 week low of $681.01 and a 52 week high of $819.54. The firm has a market cap of $22.37 billion, a price-to-earnings ratio of 18.88 and a beta of 0.50. The firm has a 50 day moving average of $758.42 and a 200 day moving average of $776.10.
AutoZone (NYSE:AZO) last announced its earnings results on Thursday, September 22nd. The company reported $14.30 EPS for the quarter, topping the consensus estimate of $14.25 by $0.05. The firm had revenue of $3.40 billion for the quarter. AutoZone had a net margin of 11.67% and a negative return on equity of 69.23%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $12.75 EPS. Equities analysts predict that AutoZone Inc. will post $45.46 earnings per share for the current fiscal year.
Several brokerages recently issued reports on AZO. RBC Capital Markets reiterated a “sector perform” rating and issued a $855.00 price target (down from $873.00) on shares of AutoZone in a report on Friday, September 23rd. Argus reiterated a “buy” rating and issued a $875.00 price target on shares of AutoZone in a report on Sunday, July 10th. Wedbush reiterated an “outperform” rating and issued a $870.00 price target on shares of AutoZone in a report on Friday, September 23rd. Susquehanna began coverage on AutoZone in a report on Thursday, August 25th. They issued a “neutral” rating and a $810.00 price target for the company. Finally, TheStreet downgraded AutoZone from a “buy” rating to a “sell” rating in a report on Wednesday, September 28th. Two research 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. The company has an average rating of “Hold” and a consensus target price of $858.24.
In other news, VP Albert Saltiel sold 1,650 shares of the business’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $807.52, for a total transaction of $1,332,408.00. Following the transaction, the vice president now owns 1,734 shares in the company, valued at approximately $1,400,239.68. The transaction was disclosed in a legal filing with the SEC, 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 dated Tuesday, July 19th. The stock was sold at an average price of $795.24, for a total transaction of $795,240.00. Following the transaction, the director now owns 4,127 shares in the company, valued at approximately $3,281,955.48. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
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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