Hexavest Inc. trimmed its position in AutoZone, Inc. (NYSE:AZO) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,634 shares of the company’s stock after selling 1,733 shares during the period. Hexavest Inc. owned approximately 0.20% of AutoZone worth $57,938,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Virtus ETF Advisers LLC bought a new position in shares of AutoZone in the 2nd quarter valued at $27,000. Quest Capital Management Inc. ADV bought a new stake in shares of AutoZone in the 3rd quarter worth about $37,000. First Financial Corp IN bought a new stake in shares of AutoZone in the 3rd quarter worth about $38,000. Bay Harbor Wealth Management LLC bought a new stake in shares of AutoZone in the 3rd quarter worth about $40,000. Finally, Evoke Wealth LLC bought a new stake in shares of AutoZone in the 3rd quarter worth about $47,000. Institutional investors own 93.61% of the company’s stock.
A number of research firms have commented on AZO. ValuEngine downgraded shares of AutoZone from a “hold” rating to a “sell” rating in a research report on Tuesday, January 7th. Credit Suisse Group reissued an “outperform” rating and issued a $1,350.00 price objective (up previously from $1,275.00) on shares of AutoZone in a report on Wednesday, December 11th. Wells Fargo & Co upped their price objective on shares of AutoZone from $1,300.00 to $1,400.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Evercore ISI reissued a “hold” rating on shares of AutoZone in a report on Thursday, December 12th. Finally, Citigroup upped their target price on shares of AutoZone from $1,357.00 to $1,363.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $1,240.40.
In related news, VP William R. Hackney sold 5,054 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $1,222.09, for a total transaction of $6,176,442.86. Following the completion of the transaction, the vice president now directly owns 3,783 shares of the company’s stock, valued at $4,623,166.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.
NYSE AZO traded up $9.47 during trading on Thursday, reaching $1,143.76. 41,169 shares of the company’s stock were exchanged, compared to its average volume of 196,381. The business has a 50 day moving average price of $1,188.81 and a 200-day moving average price of $1,139.68. The stock has a market capitalization of $27.08 billion, a P/E ratio of 18.03, a PEG ratio of 1.53 and a beta of 0.62. AutoZone, Inc. has a fifty-two week low of $803.28 and a fifty-two week high of $1,274.41.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $14.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $13.74 by $0.56. AutoZone had a negative return on equity of 96.86% and a net margin of 13.45%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the business posted $13.47 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. On average, analysts forecast that AutoZone, Inc. will post 66.17 earnings per share for the current year.
AutoZone Company Profile
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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