Korea Investment CORP cut its stake in AutoZone, Inc. (NYSE:AZO) by 41.5% during the second quarter, Holdings Channel reports. The fund owned 8,968 shares of the company’s stock after selling 6,352 shares during the period. Korea Investment CORP’s holdings in AutoZone were worth $5,116,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American Beacon Advisors Inc. acquired a new position in AutoZone during the first quarter valued at $104,000. Alpha Windward LLC increased its position in AutoZone by 3.2% in the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock valued at $148,000 after buying an additional 8 shares during the last quarter. Colony Group LLC acquired a new position in AutoZone during the first quarter valued at $205,000. Global X Management Co. LLC increased its position in AutoZone by 26.5% in the first quarter. Global X Management Co. LLC now owns 286 shares of the company’s stock valued at $207,000 after buying an additional 60 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in AutoZone during the first quarter valued at $213,000. Institutional investors and hedge funds own 97.11% of the company’s stock.
Shares of AutoZone, Inc. (AZO) opened at 533.94 on Friday. The company’s 50-day moving average price is $528.38 and its 200 day moving average price is $650.21. The stock has a market cap of $14.97 billion, a price-to-earnings ratio of 12.33 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 Zacks’ 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 business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the firm earned $10.77 EPS. AutoZone’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts predict that AutoZone, Inc. will post $43.99 earnings per share for the current year.
Several research analysts have weighed in on AZO shares. Goldman Sachs Group, Inc. (The) upgraded AutoZone from a “neutral” rating to a “buy” rating and upped their price target for the stock from $615.62 to $662.00 in a research note on Tuesday, May 30th. They noted that the move was a valuation call. Citigroup Inc. dropped their price target on AutoZone from $920.00 to $750.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. set a $900.00 price target on AutoZone and gave the stock a “buy” rating in a research note on Tuesday, May 23rd. BTIG Research reiterated a “buy” rating and set a $825.00 target price on shares of AutoZone in a research report on Wednesday, May 24th. Finally, CIBC reiterated a “buy” rating and set a $900.00 target price on shares of AutoZone in a research report on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. AutoZone has a consensus rating of “Hold” and a consensus price target of $775.91.
In other AutoZone news, Director Earl G. Graves, Jr. sold 1,000 shares of AutoZone stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $602.50, for a total value of $602,500.00. Following the sale, the director now owns 4,431 shares in the company, valued at $2,669,677.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Andrew Mckenna bought 300 shares of AutoZone stock in a transaction on Thursday, July 13th. The stock was acquired at an average price of $507.00 per share, for a total transaction of $152,100.00. Following the transaction, 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. 2.60% of the stock is owned by 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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