Midas Management Corp Invests $3.52 Million in AutoZone, Inc. (AZO) Stock
Midas Management Corp acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,950 shares of the company’s stock, valued at approximately $3,522,000. AutoZone accounts for 1.4% of Midas Management Corp’s investment portfolio, making the stock its 7th biggest position.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cetera Investment Advisers increased its holdings in AutoZone by 1.1% during the 2nd quarter. Cetera Investment Advisers now owns 730 shares of the company’s stock worth $417,000 after purchasing an additional 8 shares during the period. Salem Investment Counselors Inc. increased its holdings in shares of AutoZone by 3.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock valued at $151,000 after acquiring an additional 9 shares during the period. Thrivent Financial For Lutherans increased its holdings in shares of AutoZone by 4.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 1,165 shares of the company’s stock valued at $665,000 after acquiring an additional 45 shares during the period. Suntrust Banks Inc. increased its holdings in shares of AutoZone by 7.7% in the 2nd quarter. Suntrust Banks Inc. now owns 745 shares of the company’s stock valued at $424,000 after acquiring an additional 53 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its holdings in shares of AutoZone by 0.8% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 7,710 shares of the company’s stock valued at $4,398,000 after acquiring an additional 59 shares during the period. Institutional investors own 99.34% of the company’s stock.
In related news, CFO William T. Giles sold 24,200 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $710.79, for a total transaction of $17,201,118.00. Following the transaction, the chief financial officer now directly owns 24,466 shares in the company, valued at approximately $17,390,188.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider James C. Griffith sold 3,623 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $698.17, for a total value of $2,529,469.91. Following the transaction, the insider now owns 2,016 shares in the company, valued at $1,407,510.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,710 shares of company stock worth $69,098,826. 2.80% of the stock is owned by company insiders.
AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $9.90 by $0.10. AutoZone had a negative return on equity of 78.83% and a net margin of 11.66%. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the business earned $9.36 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. sell-side analysts predict that AutoZone, Inc. will post 47.79 EPS for the current year.
A number of research analysts have recently issued reports on AZO shares. Robert W. Baird reiterated a “hold” rating and issued a $590.00 price target on shares of AutoZone in a report on Friday, October 27th. Credit Suisse Group set a $640.00 price target on AutoZone and gave the company a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research downgraded AutoZone from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. UBS Group reiterated a “buy” rating and issued a $750.00 price target (up from $655.00) on shares of AutoZone in a report on Wednesday, November 29th. Finally, Raymond James Financial reiterated a “hold” rating on shares of AutoZone in a report on Saturday, December 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. AutoZone presently has a consensus rating of “Hold” and an average target price of $734.56.
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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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