DekaBank Deutsche Girozentrale decreased its stake in AutoZone, Inc. (NYSE:AZO) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,706 shares of the company’s stock after selling 213 shares during the period. DekaBank Deutsche Girozentrale owned 0.07% of AutoZone worth $14,258,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in AutoZone during the fourth quarter worth approximately $221,603,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in AutoZone during the fourth quarter worth approximately $165,221,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in AutoZone by 198.5% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 290,513 shares of the company’s stock worth $223,213,000 after buying an additional 193,200 shares during the period. Two Sigma Advisers LP purchased a new stake in AutoZone during the third quarter worth approximately $91,208,000. Finally, Russell Investments Group Ltd. purchased a new stake in AutoZone during the fourth quarter worth approximately $92,872,000. Institutional investors and hedge funds own 96.42% of the company’s stock.
AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, February 28th. The company reported $8.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $8.20 by $0.12. AutoZone had a negative return on equity of 69.22% and a net margin of 11.77%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm posted $7.43 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis.
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Several equities analysts recently issued reports on AZO shares. BTIG Research restated a “buy” rating and issued a $900.00 price target on shares of AutoZone in a research report on Tuesday, January 24th. Zacks Investment Research cut AutoZone from a “buy” rating to a “hold” rating in a research report on Thursday, February 9th. Credit Suisse Group AG set a $812.00 price objective on AutoZone and gave the company a “buy” rating in a report on Wednesday, March 1st. Cleveland Research lowered AutoZone from a “buy” rating to a “neutral” rating in a report on Monday, April 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $810.00 price objective on shares of AutoZone in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. AutoZone presently has a consensus rating of “Buy” and a consensus target price of $862.50.
In related news, Director Earl G. Graves, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $714.96, for a total transaction of $714,960.00. Following the completion of the sale, the director now directly owns 4,431 shares of the company’s stock, valued at $3,167,987.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rodney C. Halsell sold 14,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $724.54, for a total transaction of $10,360,922.00. Following the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at $2,873,525.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,300 shares of company stock valued at $19,917,242. Insiders own 2.60% of the company’s stock.
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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