Grisanti Capital Management LLC raised its stake in AutoZone, Inc. (NYSE:AZO) by 70.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,552 shares of the company’s stock after buying an additional 7,251 shares during the period. AutoZone makes up about 5.3% of Grisanti Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Grisanti Capital Management LLC owned about 0.06% of AutoZone worth $12,691,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth Bank of Australia raised its position in AutoZone by 27.6% in the third quarter. Commonwealth Bank of Australia now owns 162 shares of the company’s stock valued at $125,000 after buying an additional 35 shares in the last quarter. Alpha Windward LLC raised its position in AutoZone by 0.8% in the first quarter. Alpha Windward LLC now owns 251 shares of the company’s stock valued at $181,000 after buying an additional 2 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in AutoZone during the first quarter valued at approximately $213,000. Shelton Capital Management bought a new position in AutoZone during the fourth quarter worth about $217,000. Finally, Paragon Capital Management Ltd bought a new position in AutoZone during the first quarter worth about $217,000. Institutional investors 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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A number of research analysts recently issued reports on AZO shares. Cleveland Research lowered AutoZone from a “buy” rating to a “neutral” rating in a report on Monday, April 3rd. Zacks Investment Research cut AutoZone from a “buy” rating to a “hold” rating in a research note on Thursday, February 9th. Jefferies Group LLC restated a “hold” rating and issued a $810.00 price target on shares of AutoZone in a research note on Tuesday, April 18th. Credit Suisse Group AG set a $812.00 price target on AutoZone and gave the company a “buy” rating in a research note on Wednesday, March 1st. Finally, BTIG Research restated a “buy” rating and issued a $900.00 price target on shares of AutoZone in a research note on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $862.50.
In related news, insider Rodney C. Halsell sold 14,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $724.54, for a total transaction of $10,360,922.00. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at $2,873,525.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the director now owns 4,431 shares of the company’s stock, valued at approximately $3,167,987.76. 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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