British Airways Pensions Investment Management Ltd cut its holdings in AutoZone, Inc. (NYSE:AZO) by 22.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,786 shares of the company’s stock after selling 3,146 shares during the quarter. British Airways Pensions Investment Management Ltd’s holdings in AutoZone were worth $11,699,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Coastal Investment Advisors Inc. acquired a new position in AutoZone in the second quarter valued at approximately $26,000. Virtus ETF Advisers LLC bought a new stake in shares of AutoZone during the second quarter valued at approximately $27,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of AutoZone during the second quarter valued at approximately $31,000. Quest Capital Management Inc. ADV bought a new stake in shares of AutoZone during the third quarter valued at approximately $37,000. Finally, First Financial Corp IN bought a new stake in shares of AutoZone during the third quarter valued at approximately $38,000. 97.16% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Earl G. Graves, Jr. sold 500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1,077.04, for a total transaction of $538,520.00. Following the completion of the sale, the director now owns 4,607 shares in the company, valued at $4,961,923.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.50% of the company’s stock.
AZO has been the subject of several recent research reports. Goldman Sachs Group initiated coverage on AutoZone in a report on Thursday, July 11th. They set a “neutral” rating and a $1,183.00 price objective for the company. ValuEngine downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Raymond James initiated coverage on AutoZone in a report on Monday, October 7th. They set an “outperform” rating and a $1,250.00 price objective for the company. Wedbush restated an “outperform” rating and set a $1,240.00 price objective (up previously from $1,100.00) on shares of AutoZone in a report on Thursday, September 19th. Finally, Royal Bank of Canada boosted their price objective on AutoZone from $1,091.00 to $1,097.00 and gave the company a “sector perform” rating in a report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,136.00.
Shares of AutoZone stock opened at $1,161.48 on Thursday. The stock has a fifty day simple moving average of $1,110.08 and a 200 day simple moving average of $1,094.47. AutoZone, Inc. has a 12-month low of $775.60 and a 12-month high of $1,186.60. The company has a market capitalization of $27.40 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62.
AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $22.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $21.80 by $0.79. AutoZone had a negative return on equity of 98.67% and a net margin of 13.63%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the company posted $18.54 earnings per share. AutoZone’s revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts anticipate that AutoZone, Inc. will post 65.39 EPS for the current fiscal year.
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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