Nomura Asset Management Co. Ltd. decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 2.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,008 shares of the company’s stock after selling 124 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in AutoZone were worth $3,620,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning boosted its stake in AutoZone by 0.4% in the first quarter. Creative Planning now owns 1,972 shares of the company’s stock valued at $1,426,000 after buying an additional 8 shares during the period. Manning & Napier Advisors LLC boosted its stake in AutoZone by 508.4% in the first quarter. Manning & Napier Advisors LLC now owns 53,480 shares of the company’s stock valued at $38,667,000 after buying an additional 44,690 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in shares of AutoZone by 1.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 26,745 shares of the company’s stock valued at $19,338,000 after buying an additional 355 shares in the last quarter. Pensionfund DSM Netherlands raised its position in shares of AutoZone by 4.8% in the first quarter. Pensionfund DSM Netherlands now owns 4,400 shares of the company’s stock valued at $3,181,000 after buying an additional 200 shares in the last quarter. Finally, Pensionfund Sabic raised its position in shares of AutoZone by 10.0% in the first quarter. Pensionfund Sabic now owns 2,200 shares of the company’s stock valued at $1,591,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Shares of AutoZone, Inc. (AZO) traded down 0.52% during midday trading on Monday, reaching $503.66. The company had a trading volume of 437,407 shares. The company has a market capitalization of $14.12 billion, a P/E ratio of 11.63 and a beta of 0.62. AutoZone, Inc. has a 52 week low of $492.02 and a 52 week high of $818.00. The company’s 50 day moving average price is $615.04 and its 200-day moving average price is $706.75.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 23rd. The company reported $11.44 EPS for the quarter, missing the consensus estimate of $12.00 by $0.56. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the business earned $10.77 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that AutoZone, Inc. will post $44.05 earnings per share for the current fiscal year.

AutoZone declared that its board has approved a share buyback program on Tuesday, March 21st that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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A number of brokerages have weighed in on AZO. Oppenheimer Holdings, Inc. set a $900.00 target price on AutoZone and gave the stock a “buy” rating in a research report on Tuesday, May 23rd. Cleveland Research downgraded AutoZone from a “buy” rating to a “neutral” rating in a research note on Monday, April 3rd. ValuEngine upgraded AutoZone from a “hold” rating to a “buy” rating in a research note on Wednesday, May 24th. Deutsche Bank AG cut their price target on AutoZone from $800.00 to $650.00 and set a “hold” rating for the company in a research note on Thursday, May 25th. Finally, Citigroup Inc. cut their price objective on AutoZone from $920.00 to $750.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AutoZone has a consensus rating of “Hold” and an average target price of $780.26.

In other news, VP William T. Giles sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the completion of the sale, the vice president now directly owns 18,500 shares in the company, valued at $10,750,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Andrew Mckenna bought 300 shares of the stock in a transaction dated Thursday, July 13th. The shares were acquired at an average price of $507.00 per share, with a total value of $152,100.00. Following the completion of the purchase, the director now directly owns 5,131 shares of the company’s stock, valued at $2,601,417. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

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 August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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