Cramer Rosenthal Mcglynn LLC trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 43.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 93,439 shares of the company’s stock after selling 72,087 shares during the quarter. AutoZone accounts for about 1.1% of Cramer Rosenthal Mcglynn LLC’s holdings, making the stock its 25th biggest position. Cramer Rosenthal Mcglynn LLC’s holdings in AutoZone were worth $66,470,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in AZO. Vulcan Value Partners LLC bought a new position in AutoZone during the fourth quarter worth about $291,129,000. JPMorgan Chase & Co. increased its position in AutoZone by 27.8% during the third quarter. JPMorgan Chase & Co. now owns 1,301,355 shares of the company’s stock worth $764,272,000 after acquiring an additional 282,939 shares during the period. Alyeska Investment Group L.P. bought a new position in AutoZone during the third quarter worth about $141,811,000. Ameriprise Financial Inc. increased its position in AutoZone by 802.6% during the third quarter. Ameriprise Financial Inc. now owns 236,396 shares of the company’s stock worth $140,681,000 after acquiring an additional 210,205 shares during the period. Finally, Kiltearn Partners LLP bought a new position in AutoZone during the fourth quarter worth about $101,122,000. 95.82% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Richard Craig Smith sold 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $760.00, for a total value of $2,052,000.00. Following the sale, the vice president now directly owns 4,500 shares in the company, valued at approximately $3,420,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William W. Graves sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $744.78, for a total transaction of $7,820,190.00. Following the completion of the sale, the insider now owns 12,574 shares in the company, valued at $9,364,863.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,887 shares of company stock worth $14,165,983. 2.80% of the stock is currently owned by corporate insiders.
AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $8.47 earnings per share for the quarter, missing analysts’ consensus estimates of $8.81 by ($0.34). AutoZone had a net margin of 12.00% and a negative return on equity of 85.64%. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the business posted $7.75 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. sell-side analysts anticipate that AutoZone, Inc. will post 49.24 earnings per share for the current year.
AZO has been the topic of a number of recent research reports. Barclays raised their price target on shares of AutoZone from $710.00 to $800.00 in a research report on Thursday, December 7th. Deutsche Bank raised their price target on shares of AutoZone from $625.00 to $700.00 in a research report on Thursday, December 7th. UBS Group reaffirmed a “buy” rating and set a $750.00 price target (up from $655.00) on shares of AutoZone in a research report on Wednesday, November 29th. Citigroup raised their price target on shares of AutoZone to $820.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Finally, Argus increased their price objective on shares of AutoZone from $675.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $754.28.
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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 October 27, 2016, the Company operated through 6,029 locations in the United States, Puerto Rico, Mexico and Brazil.
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