Royal Bank of Canada Trims Stake in AutoZone, Inc. (NYSE:AZO)

Royal Bank of Canada reduced its position in AutoZone, Inc. (NYSE:AZOFree Report) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 422,437 shares of the company’s stock after selling 19,129 shares during the quarter. Royal Bank of Canada owned 2.44% of AutoZone worth $1,092,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZO. Dean Capital Management increased its position in shares of AutoZone by 19.3% during the fourth quarter. Dean Capital Management now owns 488 shares of the company’s stock worth $1,262,000 after acquiring an additional 79 shares during the period. Bridgewater Associates LP increased its position in shares of AutoZone by 5.9% during the fourth quarter. Bridgewater Associates LP now owns 12,767 shares of the company’s stock worth $33,010,000 after acquiring an additional 706 shares during the period. Symmetry Investments LP purchased a new position in shares of AutoZone during the fourth quarter worth approximately $486,000. Sei Investments Co. increased its position in shares of AutoZone by 7.6% during the fourth quarter. Sei Investments Co. now owns 13,888 shares of the company’s stock worth $35,914,000 after acquiring an additional 977 shares during the period. Finally, Evercore Wealth Management LLC increased its position in shares of AutoZone by 0.6% during the fourth quarter. Evercore Wealth Management LLC now owns 58,226 shares of the company’s stock worth $150,550,000 after acquiring an additional 336 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AutoZone news, VP Jenna M. Bedsole bought 36 shares of AutoZone stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the acquisition, the vice president now directly owns 36 shares in the company, valued at approximately $99,255.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AutoZone news, VP Eric S. Gould sold 2,100 shares of AutoZone stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the completion of the transaction, the vice president now owns 910 shares of the company’s stock, valued at $2,912,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jenna M. Bedsole acquired 36 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the acquisition, the vice president now directly owns 36 shares of the company’s stock, valued at approximately $99,255.60. The disclosure for this purchase can be found here. Insiders sold a total of 12,990 shares of company stock valued at $41,341,913 over the last 90 days. Insiders own 2.50% of the company’s stock.

AutoZone Trading Up 0.2 %

Shares of NYSE:AZO traded up $6.90 on Wednesday, hitting $2,817.93. 167,647 shares of the company were exchanged, compared to its average volume of 154,107. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The stock’s 50 day moving average price is $2,908.31 and its 200 day moving average price is $2,839.05. The firm has a market capitalization of $48.13 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 1.39 and a beta of 0.71.

AutoZone (NYSE:AZOGet Free Report) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping the consensus estimate of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the firm posted $34.12 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts predict that AutoZone, Inc. will post 151.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AZO. Barclays reduced their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. UBS Group dropped their price objective on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Mizuho dropped their price objective on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Finally, Evercore ISI dropped their price objective on shares of AutoZone from $3,300.00 to $3,250.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3,104.13.

View Our Latest Report on AZO

AutoZone Company Profile

(Free Report)

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.

See Also

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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