BerganKDV Wealth Management LLC decreased its stake in AutoZone, Inc. (NYSE:AZO) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 957 shares of the company’s stock after selling 4 shares during the period. BerganKDV Wealth Management LLC’s holdings in AutoZone were worth $546,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in AZO. Winslow Evans & Crocker Inc. increased its stake in AutoZone by 2.7% in the second quarter. Winslow Evans & Crocker Inc. now owns 5,016 shares of the company’s stock valued at $2,890,000 after buying an additional 130 shares during the period. CENTRAL TRUST Co increased its stake in AutoZone by 2,133.8% in the second quarter. CENTRAL TRUST Co now owns 1,720 shares of the company’s stock valued at $981,000 after buying an additional 1,643 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in AutoZone by 507.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 4,648 shares of the company’s stock valued at $2,651,000 after buying an additional 3,883 shares during the period. Fenimore Asset Management Inc. increased its stake in AutoZone by 35.8% in the second quarter. Fenimore Asset Management Inc. now owns 93,136 shares of the company’s stock valued at $53,130,000 after buying an additional 24,542 shares during the period. Finally, National Pension Service increased its stake in AutoZone by 10.5% in the second quarter. National Pension Service now owns 28,910 shares of the company’s stock valued at $16,180,000 after buying an additional 2,749 shares during the period. Institutional investors and hedge funds own 96.79% of the company’s stock.
Shares of AutoZone, Inc. (NYSE AZO) traded down 0.52% during midday trading on Monday, reaching $503.66. The company had a trading volume of 437,402 shares. AutoZone, Inc. has a 52-week low of $492.02 and a 52-week high of $818.00. The stock has a market capitalization of $14.12 billion, a PE ratio of 11.63 and a beta of 0.62. The company’s 50 day moving average price is $615.04 and its 200 day moving average price is $706.75.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.00 by $0.56. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.70 billion. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.77 EPS. Equities research analysts expect that AutoZone, Inc. will post $44.05 earnings per share for the current year.
AutoZone declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 21st that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
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Several analysts have recently weighed in on the company. Wolfe Research downgraded AutoZone from a “market perform” rating to an “underperform” rating in a research report on Monday. Credit Suisse Group restated an “outperform” rating and issued a $583.00 price objective (down from $658.00) on shares of AutoZone in a report on Monday. Bank of America Corporation downgraded AutoZone from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $750.00 to $575.00 in a report on Friday, July 7th. Royal Bank Of Canada decreased their price objective on AutoZone from $653.00 to $577.00 and set a “sector perform” rating for the company in a report on Thursday, July 6th. Finally, Barclays PLC decreased their price objective on AutoZone from $870.00 to $710.00 and set an “overweight” rating for the company in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $780.26.
In other AutoZone news, Director Earl G. Graves, Jr. sold 1,000 shares of AutoZone stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $602.50, for a total value of $602,500.00. Following the transaction, the director now directly owns 4,431 shares in the company, valued at approximately $2,669,677.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William T. Giles sold 10,000 shares of AutoZone stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total value of $5,811,000.00. Following the completion of the transaction, the vice president now owns 18,500 shares in the company, valued at $10,750,350. The disclosure for this sale can be found here. Company 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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