Campbell & CO Investment Adviser LLC bought a new position in AutoZone, Inc. (NYSE:AZO) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 900 shares of the company’s stock, valued at approximately $698,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greystone Managed Investments Inc. boosted its holdings in shares of AutoZone by 1.4% in the second quarter. Greystone Managed Investments Inc. now owns 13,060 shares of the company’s stock valued at $8,762,000 after acquiring an additional 181 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of AutoZone by 47.5% in the third quarter. Bank of Montreal Can now owns 103,222 shares of the company’s stock valued at $80,070,000 after acquiring an additional 33,226 shares in the last quarter. First Interstate Bank boosted its holdings in shares of AutoZone by 332.7% in the second quarter. First Interstate Bank now owns 238 shares of the company’s stock valued at $160,000 after acquiring an additional 183 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of AutoZone by 13.9% in the second quarter. Nisa Investment Advisors LLC now owns 8,320 shares of the company’s stock valued at $5,584,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in shares of AutoZone in the second quarter valued at approximately $203,000. Hedge funds and other institutional investors own 94.39% of the company’s stock.
AZO stock opened at $810.04 on Friday. AutoZone, Inc. has a 12 month low of $590.76 and a 12 month high of $832.30. The company has a market cap of $20.26 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89.
AutoZone announced that its Board of Directors has approved a stock buyback plan on Wednesday, September 26th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the company to reacquire up to 6.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Several research firms have recently issued reports on AZO. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $860.00 price objective for the company in a report on Tuesday, August 28th. Wedbush reiterated an “outperform” rating and issued a $770.00 price objective on shares of AutoZone in a report on Friday, July 20th. Royal Bank of Canada decreased their price objective on shares of AutoZone from $779.00 to $775.00 and set a “sector perform” rating for the company in a report on Wednesday, September 19th. JPMorgan Chase & Co. increased their price objective on shares of AutoZone to $880.00 and gave the company an “overweight” rating in a report on Wednesday, September 19th. Finally, Credit Suisse Group increased their price objective on shares of AutoZone from $790.00 to $810.00 and gave the company an “outperform” rating in a report on Wednesday, September 5th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $790.65.
In related news, Director William Andrew Mckenna sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $747.15, for a total transaction of $2,241,450.00. Following the completion of the sale, the director now directly owns 8,268 shares of the company’s stock, valued at $6,177,436.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rodney C. Halsell sold 5,387 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $751.21, for a total transaction of $4,046,768.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,487 shares of company stock valued at $46,667,608. Company insiders own 2.80% of the company’s stock.
AutoZone Company Profile
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.
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