Hancock Whitney Corp raised its stake in AutoZone, Inc. (NYSE:AZO) by 2.0% during the first quarter, HoldingsChannel.com reports. The fund owned 1,459 shares of the company’s stock after acquiring an additional 29 shares during the quarter. Hancock Whitney Corp’s holdings in AutoZone were worth $1,494,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. lifted its holdings in AutoZone by 1.7% during the 1st quarter. BlackRock Inc. now owns 1,916,950 shares of the company’s stock worth $1,963,187,000 after purchasing an additional 32,263 shares during the last quarter. FMR LLC raised its stake in AutoZone by 3.7% during the 4th quarter. FMR LLC now owns 1,403,413 shares of the company’s stock worth $1,176,537,000 after buying an additional 49,662 shares during the period. Geode Capital Management LLC increased its holdings in AutoZone by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 353,880 shares of the company’s stock worth $296,182,000 after purchasing an additional 14,661 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of AutoZone by 27.8% in the first quarter. Janus Henderson Group PLC now owns 333,246 shares of the company’s stock valued at $341,286,000 after acquiring an additional 72,455 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of AutoZone by 4.4% during the first quarter. Northern Trust Corp now owns 316,440 shares of the company’s stock worth $324,074,000 after acquiring an additional 13,478 shares in the last quarter. 92.98% of the stock is currently owned by institutional investors.
NYSE:AZO opened at $1,113.95 on Friday. AutoZone, Inc. has a 1-year low of $662.17 and a 1-year high of $1,120.00. The stock has a market capitalization of $27.15 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 1.45 and a beta of 0.64.
Several brokerages have commented on AZO. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $1,156.00 price objective for the company in a report on Friday, June 7th. Citigroup boosted their price objective on shares of AutoZone from $1,206.00 to $1,234.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Wedbush reiterated an “outperform” rating and issued a $1,100.00 price target (up previously from $1,030.00) on shares of AutoZone in a research note on Wednesday, May 22nd. Wells Fargo & Co reiterated a “buy” rating and set a $1,140.00 price target on shares of AutoZone in a report on Tuesday, May 21st. Finally, Credit Suisse Group set a $1,131.00 target price on shares of AutoZone and gave the stock a “positive” rating in a research note on Tuesday, April 23rd. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,017.31.
In other news, insider Albert Saltiel sold 1,800 shares of AutoZone stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $1,114.09, for a total transaction of $2,005,362.00. Following the completion of the transaction, the insider now directly owns 1,965 shares in the company, valued at $2,189,186.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $1,038.68, for a total transaction of $259,670.00. Following the completion of the transaction, the director now owns 4,357 shares of the company’s stock, valued at $4,525,528.76. The disclosure for this sale can be found here. Insiders have sold a total of 32,237 shares of company stock valued at $33,558,782 over the last three months. Corporate insiders own 2.80% of the company’s stock.
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.
Further Reading: Cost of Equity For A Business, Investors
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