Coastline Trust Co lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 17.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,070 shares of the company’s stock after selling 230 shares during the quarter. Coastline Trust Co’s holdings in AutoZone were worth $1,207,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in AZO. Advisor Group Holdings Inc. purchased a new position in AutoZone during the first quarter valued at $4,837,000. Assenagon Asset Management S.A. lifted its stake in shares of AutoZone by 1,719.4% in the second quarter. Assenagon Asset Management S.A. now owns 91,915 shares of the company’s stock worth $103,691,000 after buying an additional 86,863 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of AutoZone by 8.3% in the first quarter. Fiera Capital Corp now owns 655,807 shares of the company’s stock worth $554,809,000 after buying an additional 50,079 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of AutoZone by 48.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 151,716 shares of the company’s stock worth $128,352,000 after buying an additional 49,453 shares in the last quarter. Finally, Ardevora Asset Management LLP purchased a new position in shares of AutoZone in the second quarter worth about $45,556,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.
AZO has been the topic of several research reports. Cfra reissued a “strong-buy” rating and issued a $1,275.00 price target (up from $1,250.00) on shares of AutoZone in a research note on Tuesday, May 26th. Raymond James cut their price objective on shares of AutoZone from $1,350.00 to $1,300.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Wells Fargo & Co restated a “buy” rating and set a $1,300.00 price objective on shares of AutoZone in a research report on Tuesday, July 28th. Royal Bank of Canada restated a “sector perform” rating and set a $1,250.00 price objective (up from $1,119.00) on shares of AutoZone in a research report on Wednesday, May 27th. Finally, Wedbush restated an “outperform” rating and set a $1,300.00 price objective on shares of AutoZone in a research report on Tuesday, June 30th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $1,232.88.
Shares of NYSE:AZO traded down $4.02 on Thursday, reaching $1,205.98. 3,968 shares of the company were exchanged, compared to its average volume of 178,256. AutoZone, Inc. has a 1-year low of $684.91 and a 1-year high of $1,274.41. The firm has a market cap of $28.30 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 2.02 and a beta of 0.91. The company has a 50-day moving average of $1,162.25 and a 200-day moving average of $1,061.71.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 26th. The company reported $14.39 EPS for the quarter, topping the consensus estimate of $13.80 by $0.59. AutoZone had a net margin of 12.90% and a negative return on equity of 91.18%. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the firm earned $15.99 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, analysts expect that AutoZone, Inc. will post 63.94 earnings per share for the current year.
In related news, VP Kristen C. Wright sold 1,890 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $1,140.00, for a total value of $2,154,600.00. Following the sale, the vice president now directly owns 2,137 shares in the company, valued at approximately $2,436,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Philip B. Daniele sold 176 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $1,100.21, for a total transaction of $193,636.96. Following the completion of the sale, the vice president now owns 247 shares in the company, valued at $271,751.87. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.
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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