BlackRock Inc. reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,850,126 shares of the company’s stock after selling 11,550 shares during the period. BlackRock Inc. owned approximately 0.07% of AutoZone worth $1,316,125,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in AZO. Fuller & Thaler Asset Management Inc. acquired a new stake in AutoZone during the 3rd quarter worth approximately $179,000. Jarislowsky Fraser Ltd acquired a new stake in AutoZone during the 3rd quarter worth approximately $202,000. Flagship Harbor Advisors LLC acquired a new stake in AutoZone during the 4th quarter worth approximately $211,000. Bfsg LLC acquired a new stake in AutoZone during the 4th quarter worth approximately $213,000. Finally, Paragon Capital Management Ltd acquired a new stake in AutoZone during the 4th quarter worth approximately $213,000. Hedge funds and other institutional investors own 95.03% of the company’s stock.
In related news, insider James C. Griffith sold 1,250 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $794.70, for a total value of $993,375.00. Following the completion of the transaction, the insider now directly owns 1,353 shares of the company’s stock, valued at $1,075,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philip B. Daniele sold 740 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $780.37, for a total transaction of $577,473.80. Following the completion of the transaction, the insider now directly owns 1,058 shares of the company’s stock, valued at $825,631.46. The disclosure for this sale can be found here. Insiders sold 96,710 shares of company stock valued at $69,098,826 over the last three months. 2.80% of the stock is owned by company insiders.
AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, beating the consensus estimate of $9.90 by $0.10. AutoZone had a net margin of 11.66% and a negative return on equity of 78.83%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the business earned $9.36 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. research analysts anticipate that AutoZone, Inc. will post 49.64 EPS for the current fiscal year.
Several analysts have commented on AZO shares. Robert W. Baird restated a “hold” rating and set a $590.00 target price on shares of AutoZone in a report on Friday, October 27th. Credit Suisse Group set a $640.00 price target on shares of AutoZone and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Zacks Investment Research cut shares of AutoZone from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. UBS Group reaffirmed a “buy” rating and set a $750.00 price target (up from $655.00) on shares of AutoZone in a research note on Wednesday, November 29th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of AutoZone in a research note on Saturday, December 2nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $747.06.
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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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