AutoZone, Inc. (AZO) Shares Bought by IMS Capital Management
IMS Capital Management boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 1,406 shares of the company’s stock after buying an additional 19 shares during the period. IMS Capital Management’s holdings in AutoZone were worth $802,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of AutoZone by 2,993.2% in the first quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock valued at $1,467,778,000 after buying an additional 1,964,358 shares during the period. OppenheimerFunds Inc. increased its stake in shares of AutoZone by 103.6% in the first quarter. OppenheimerFunds Inc. now owns 693,624 shares of the company’s stock valued at $501,525,000 after buying an additional 352,990 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of AutoZone during the first quarter valued at approximately $114,285,000. JPMorgan Chase & Co. increased its stake in shares of AutoZone by 24.5% in the first quarter. JPMorgan Chase & Co. now owns 637,592 shares of the company’s stock valued at $461,012,000 after buying an additional 125,566 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its stake in shares of AutoZone by 35.8% in the first quarter. Burgundy Asset Management Ltd. now owns 401,278 shares of the company’s stock valued at $290,144,000 after buying an additional 105,796 shares in the last quarter. Institutional investors and hedge funds own 96.08% of the company’s stock.
Shares of AutoZone, Inc. (NYSE:AZO) opened at 516.13 on Wednesday. The firm has a 50 day moving average price of $525.15 and a 200-day moving average price of $645.93. The company has a market cap of $14.47 billion, a P/E ratio of 11.92 and a beta of 0.61. AutoZone, Inc. has a 12 month low of $491.13 and a 12 month high of $813.70.
AutoZone (NYSE:AZO) last posted its earnings results 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 firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the company posted $10.77 EPS. AutoZone’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts anticipate that AutoZone, Inc. will post $43.94 earnings per share for the current fiscal year.
AZO has been the subject of several analyst reports. Oppenheimer Holdings, Inc. reduced their target price on AutoZone and set an “outperform” rating for the company in a report on Thursday, July 20th. ValuEngine raised AutoZone from a “hold” rating to a “buy” rating in a report on Wednesday, May 24th. Deutsche Bank AG reduced their target price on AutoZone from $800.00 to $650.00 and set a “hold” rating for the company in a report on Thursday, May 25th. Citigroup Inc. reduced their target price on AutoZone from $920.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, May 25th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $810.00 target price on shares of AutoZone in a report on Tuesday, April 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $775.91.
In other news, VP William T. Giles sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total value of $5,811,000.00. Following the transaction, the vice president now owns 18,500 shares of the company’s stock, valued at $10,750,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $602.50, for a total value of $602,500.00. Following the completion of the transaction, the director now directly owns 4,431 shares in the company, valued at approximately $2,669,677.50. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.
AutoZone Company Profile
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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