American Century Companies Inc. lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 166,465 shares of the company’s stock after selling 12,727 shares during the period. American Century Companies Inc. owned about 0.65% of AutoZone worth $129,127,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its holdings in AutoZone by 150.0% during the 1st quarter. Allianz Asset Management GmbH now owns 11,820 shares of the company’s stock worth $7,667,000 after buying an additional 35,477 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in AutoZone by 41.3% during the 2nd quarter. IFM Investors Pty Ltd now owns 1,276 shares of the company’s stock worth $856,000 after buying an additional 373 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in AutoZone by 1.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,429 shares of the company’s stock worth $2,970,000 after buying an additional 81 shares during the last quarter. Ledyard National Bank lifted its holdings in AutoZone by 62.5% during the 2nd quarter. Ledyard National Bank now owns 260 shares of the company’s stock worth $174,000 after buying an additional 100 shares during the last quarter. Finally, Manning & Napier Group LLC lifted its holdings in AutoZone by 12.1% during the 2nd quarter. Manning & Napier Group LLC now owns 61,905 shares of the company’s stock worth $41,532,000 after buying an additional 6,685 shares during the last quarter. 94.56% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on AZO. Argus reduced their target price on AutoZone to $820.00 and set a “buy” rating on the stock in a report on Thursday, August 30th. Zacks Investment Research raised AutoZone from a “hold” rating to a “buy” rating and set a $860.00 target price on the stock in a report on Tuesday, August 28th. Morgan Stanley increased their target price on AutoZone from $760.00 to $800.00 and gave the stock an “equal weight” rating in a report on Tuesday. Stephens reaffirmed a “buy” rating and set a $825.00 target price on shares of AutoZone in a report on Wednesday, September 19th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. increased their price target on AutoZone to $880.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 19th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $790.65.
In related news, insider Rodney C. Halsell sold 5,387 shares of AutoZone stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $751.21, for a total transaction of $4,046,768.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 23,700 shares of AutoZone stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $780.06, for a total value of $18,487,422.00. Following the sale, the chairman now directly owns 37,918 shares of the company’s stock, valued at approximately $29,578,315.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,487 shares of company stock valued at $46,667,608. Insiders own 2.80% of the company’s stock.
Shares of AutoZone stock opened at $793.87 on Friday. The firm has a market capitalization of $19.96 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89. AutoZone, Inc. has a 12 month low of $588.56 and a 12 month high of $802.22.
AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 18th. The company reported $18.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $17.92 by $0.62. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.60 billion. AutoZone had a negative return on equity of 99.70% and a net margin of 11.92%. AutoZone’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $15.27 earnings per share. Research analysts expect that AutoZone, Inc. will post 58.43 EPS for the current year.
AutoZone announced that its board has initiated a share repurchase plan on Wednesday, September 26th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the company to reacquire up to 6.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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.
Read More: Marijuana Stocks Future Looks Bright
Want to see what other hedge funds are holding AZO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoZone, Inc. (NYSE:AZO).
Receive News & Ratings for AutoZone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone and related companies with MarketBeat.com's FREE daily email newsletter.