Fred Alger Management Inc. acquired a new position in AutoZone, Inc. (NYSE:AZO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,573 shares of the company’s stock, valued at approximately $1,830,000.
Several other institutional investors have also recently modified their holdings of AZO. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AutoZone in the third quarter worth $179,000. Jarislowsky Fraser Ltd acquired a new stake in shares of AutoZone in the third quarter worth $202,000. First Republic Investment Management Inc. acquired a new stake in shares of AutoZone in the fourth quarter worth $202,000. Flagship Harbor Advisors LLC acquired a new stake in shares of AutoZone in the fourth quarter worth $211,000. Finally, Bfsg LLC acquired a new stake in shares of AutoZone in the fourth quarter worth $213,000. Institutional investors and hedge funds own 95.82% of the company’s stock.
AZO has been the subject of a number of analyst reports. Zacks Investment Research cut shares of AutoZone from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Raymond James Financial reaffirmed a “hold” rating on shares of AutoZone in a research report on Saturday, December 2nd. Credit Suisse Group set a $790.00 target price on shares of AutoZone and gave the stock a “hold” rating in a research report on Thursday, January 4th. Stephens set a $840.00 target price on shares of AutoZone and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Finally, Citigroup boosted their target price on shares of AutoZone to $820.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $754.28.
AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $8.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.81 by ($0.34). The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. AutoZone had a net margin of 12.00% and a negative return on equity of 85.64%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $7.75 EPS. equities research analysts forecast that AutoZone, Inc. will post 49.24 earnings per share for the current fiscal year.
In other AutoZone news, insider Albert Saltiel sold 2,150 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $703.09, for a total value of $1,511,643.50. Following the sale, the insider now owns 2,276 shares of the company’s stock, valued at approximately $1,600,232.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider William W. Graves sold 10,500 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $744.78, for a total transaction of $7,820,190.00. Following the completion of the sale, the insider now directly owns 12,574 shares in the company, valued at approximately $9,364,863.72. The disclosure for this sale can be found here. Insiders sold a total of 18,887 shares of company stock worth $14,165,983 in the last three months. Insiders own 2.80% of the company’s stock.
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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 October 27, 2016, the Company operated through 6,029 locations in the United States, Puerto Rico, Mexico and Brazil.
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