AutoZone (AZO) Holdings Boosted by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. grew its stake in AutoZone (NYSE:AZO) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,226 shares of the company’s stock after purchasing an additional 2,879 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.37% of AutoZone worth $65,016,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AZO. CWM LLC raised its stake in shares of AutoZone by 41.8% in the 4th quarter. CWM LLC now owns 312 shares of the company’s stock valued at $222,000 after purchasing an additional 92 shares in the last quarter. National Pension Service raised its stake in shares of AutoZone by 8.5% in the 4th quarter. National Pension Service now owns 32,654 shares of the company’s stock valued at $23,229,000 after purchasing an additional 2,553 shares in the last quarter. Creative Planning raised its stake in shares of AutoZone by 5.0% in the 4th quarter. Creative Planning now owns 2,044 shares of the company’s stock valued at $1,454,000 after purchasing an additional 97 shares in the last quarter. Marathon Asset Management LLP raised its stake in shares of AutoZone by 1.1% in the 4th quarter. Marathon Asset Management LLP now owns 27,773 shares of the company’s stock valued at $19,757,000 after purchasing an additional 300 shares in the last quarter. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of AutoZone in the 4th quarter valued at about $908,000. Institutional investors and hedge funds own 94.75% of the company’s stock.

In other news, Director Douglas H. Brooks bought 162 shares of the firm’s stock in a transaction on Monday, April 16th. The stock was purchased at an average price of $607.49 per share, for a total transaction of $98,413.38. Following the transaction, the director now owns 1,904 shares in the company, valued at $1,156,660.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

NYSE AZO opened at $646.30 on Friday. AutoZone has a 52 week low of $655.11 and a 52 week high of $664.35. The company has a quick ratio of 0.15, a current ratio of 0.98 and a debt-to-equity ratio of -3.79. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.97 and a beta of 0.85.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, February 27th. The company reported $8.47 EPS for the quarter, missing the consensus estimate of $8.81 by ($0.34). AutoZone had a negative return on equity of 88.86% and a net margin of 12.00%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the company posted $7.75 EPS. AutoZone’s revenue for the quarter was up 5.4% on a year-over-year basis. equities analysts expect that AutoZone will post 48.89 earnings per share for the current year.

AutoZone declared that its board has approved a stock repurchase program on Tuesday, March 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

A number of equities research analysts have recently issued reports on the stock. Goldman Sachs upgraded shares of AutoZone from a “buy” rating to a “conviction-buy” rating and set a $491.13 target price on the stock in a research note on Monday, May 7th. ValuEngine lowered shares of AutoZone from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Argus reiterated a “buy” rating and set a $850.00 price objective (down previously from $875.00) on shares of AutoZone in a research note on Wednesday, April 25th. Wells Fargo assumed coverage on shares of AutoZone in a research note on Monday, April 23rd. They set an “outperform” rating and a $700.00 price objective on the stock. Finally, Guggenheim reiterated a “neutral” rating on shares of AutoZone in a research note on Tuesday, April 17th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $745.32.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. It offers 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. The company's products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, thermostats, starters and alternators, and water pumps.

Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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