Nomura Asset Management Co. Ltd. grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 5.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,027 shares of the company’s stock after acquiring an additional 210 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in AutoZone were worth $2,612,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in AZO. Synovus Financial Corp bought a new position in shares of AutoZone during the first quarter valued at $135,000. First Republic Investment Management Inc. bought a new position in shares of AutoZone during the fourth quarter valued at $202,000. Chilton Capital Management LLC bought a new position in shares of AutoZone during the fourth quarter valued at $213,000. Venturi Wealth Management LLC bought a new position in shares of AutoZone during the first quarter valued at $227,000. Finally, Farr Miller & Washington LLC DC bought a new position in shares of AutoZone during the fourth quarter valued at $238,000. 89.40% of the stock is owned by hedge funds and other institutional investors.
NYSE:AZO opened at $687.54 on Wednesday. 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 firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 0.97 and a beta of 0.86. AutoZone, Inc. has a 12 month low of $491.13 and a 12 month high of $797.89.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 22nd. The company reported $13.42 earnings per share for the quarter, beating the consensus estimate of $12.99 by $0.43. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.71 billion. AutoZone had a negative return on equity of 95.76% and a net margin of 12.27%. The firm’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the previous year, the company posted $11.44 earnings per share. research analysts anticipate that AutoZone, Inc. will post 49.87 EPS for the current year.
AutoZone announced that its board has authorized a stock repurchase plan on Tuesday, March 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
AZO has been the subject of several analyst reports. Argus reaffirmed a “buy” rating and set a $850.00 price target (down previously from $875.00) on shares of AutoZone in a research note on Wednesday, April 25th. Wedbush raised shares of AutoZone from a “neutral” rating to an “outperform” rating and raised their price target for the company from $670.00 to $750.00 in a research note on Thursday, April 5th. ValuEngine downgraded shares of AutoZone from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research cut shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Finally, Credit Suisse Group upgraded shares of AutoZone to a “buy” rating and set a $790.00 price objective for the company in a research report on Friday, March 2nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $730.18.
In other news, Director Douglas H. Brooks acquired 162 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The stock was purchased at an average cost of $607.49 per share, for a total transaction of $98,413.38. Following the completion of the acquisition, the director now directly owns 1,904 shares of the company’s stock, valued at approximately $1,156,660.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company’s stock.
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.
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