Cypress Asset Management Inc. TX lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 7.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 295 shares of the company’s stock after selling 25 shares during the period. Cypress Asset Management Inc. TX’s holdings in AutoZone were worth $302,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. W.E. Donoghue & Co. LLC acquired a new stake in shares of AutoZone during the first quarter worth about $2,900,000. FMR LLC increased its position in shares of AutoZone by 3.7% in the fourth quarter. FMR LLC now owns 1,403,413 shares of the company’s stock valued at $1,176,537,000 after buying an additional 49,662 shares in the last quarter. Nippon Life Global Investors Americas Inc. purchased a new stake in shares of AutoZone in the fourth quarter valued at approximately $2,691,000. State Treasurer State of Michigan increased its position in shares of AutoZone by 413.3% in the fourth quarter. State Treasurer State of Michigan now owns 40,364 shares of the company’s stock valued at $33,839,000 after buying an additional 32,500 shares in the last quarter. Finally, Polianta Ltd purchased a new stake in shares of AutoZone during the fourth quarter worth approximately $1,173,000. Hedge funds and other institutional investors own 95.81% of the company’s stock.
Shares of AZO traded up $11.68 during midday trading on Wednesday, reaching $1,043.93. 303,413 shares of the company were exchanged, compared to its average volume of 307,929. The stock has a market cap of $24.49 billion, a PE ratio of 20.74, a P/E/G ratio of 1.32 and a beta of 0.67. AutoZone, Inc. has a 1-year low of $597.00 and a 1-year high of $1,074.67.
AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $15.99 EPS for the quarter, topping the Zacks’ consensus estimate of $15.23 by $0.76. AutoZone had a negative return on equity of 98.24% and a net margin of 12.49%. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the firm posted $13.42 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, analysts predict that AutoZone, Inc. will post 61.74 EPS for the current year.
AZO has been the subject of several analyst reports. Bank of America upgraded AutoZone from a “neutral” rating to a “buy” rating in a report on Monday, March 11th. Morgan Stanley increased their price objective on AutoZone from $870.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 23rd. Credit Suisse Group reissued a “hold” rating on shares of AutoZone in a report on Wednesday, February 20th. Wedbush reissued an “outperform” rating and set a $1,030.00 price target (up previously from $970.00) on shares of AutoZone in a research report on Wednesday, February 27th. Finally, Deutsche Bank lifted their price objective on AutoZone from $960.00 to $1,035.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,004.50.
In related news, insider Philip B. Daniele sold 740 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $920.00, for a total value of $680,800.00. Following the completion of the sale, the insider now directly owns 1,105 shares of the company’s stock, valued at $1,016,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $1,038.68, for a total value of $259,670.00. Following the completion of the sale, the director now directly owns 4,357 shares of the company’s stock, valued at $4,525,528.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,640 shares of company stock worth $10,370,907. Insiders own 2.80% of the company’s stock.
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AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company 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. Its 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, starters and alternators, thermostats, and water pumps.
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