William Andrew Mckenna Acquires 300 Shares of AutoZone, Inc. (AZO) Stock
AutoZone, Inc. (NYSE:AZO) Director William Andrew Mckenna purchased 300 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was acquired at an average cost of $507.00 per share, for a total transaction of $152,100.00. Following the purchase, the director now owns 5,131 shares in the company, valued at $2,601,417. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
AutoZone, Inc. (AZO) traded down 0.52% on Monday, hitting $503.66. The stock had a trading volume of 437,407 shares. AutoZone, Inc. has a one year low of $492.02 and a one year high of $818.00. The stock has a market cap of $14.12 billion, a P/E ratio of 11.63 and a beta of 0.62. The company’s 50-day moving average is $615.04 and its 200-day moving average is $706.75.
AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $12.00 by $0.56. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the firm posted $10.77 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, analysts anticipate that AutoZone, Inc. will post $44.05 earnings per share for the current fiscal year.
AutoZone announced that its Board of Directors has initiated a share buyback program on Tuesday, March 21st that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Several hedge funds have recently made changes to their positions in AZO. Alpha Windward LLC raised its stake in shares of AutoZone by 0.8% in the first quarter. Alpha Windward LLC now owns 251 shares of the company’s stock worth $181,000 after buying an additional 2 shares during the last quarter. Creative Planning raised its stake in shares of AutoZone by 0.4% in the first quarter. Creative Planning now owns 1,972 shares of the company’s stock worth $1,426,000 after buying an additional 8 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in shares of AutoZone by 1.2% in the first quarter. Wetherby Asset Management Inc. now owns 687 shares of the company’s stock worth $497,000 after buying an additional 8 shares during the last quarter. Bristlecone Advisors LLC raised its stake in shares of AutoZone by 1.2% in the first quarter. Bristlecone Advisors LLC now owns 856 shares of the company’s stock worth $619,000 after buying an additional 10 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of AutoZone by 2.2% in the first quarter. Pacer Advisors Inc. now owns 507 shares of the company’s stock worth $367,000 after buying an additional 11 shares during the last quarter. 96.79% of the stock is currently owned by institutional investors and hedge funds.
AZO has been the topic of several recent analyst reports. Oppenheimer Holdings, Inc. set a $900.00 price target on AutoZone and gave the company a “buy” rating in a research note on Tuesday, May 23rd. Cleveland Research downgraded AutoZone from a “buy” rating to a “neutral” rating in a report on Monday, April 3rd. ValuEngine upgraded AutoZone from a “hold” rating to a “buy” rating in a report on Wednesday, May 24th. Deutsche Bank AG cut their price objective on AutoZone from $800.00 to $650.00 and set a “hold” rating on the stock in a report on Thursday, May 25th. Finally, Citigroup Inc. cut their price objective on AutoZone from $920.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $780.26.
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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