Riverhead Capital Management LLC boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 14.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,441 shares of the company’s stock after purchasing an additional 423 shares during the quarter. Riverhead Capital Management LLC’s holdings in AutoZone were worth $3,524,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in AZO. Berman Capital Advisors LLC bought a new stake in AutoZone in the 4th quarter valued at $26,000. Penserra Capital Management LLC acquired a new stake in AutoZone in the fourth quarter valued at about $30,000. Lindbrook Capital LLC acquired a new stake in AutoZone in the fourth quarter valued at about $35,000. Legacy Bridge LLC acquired a new stake in AutoZone in the first quarter valued at about $38,000. Finally, Semmax Financial Advisors Inc. acquired a new stake in AutoZone in the fourth quarter valued at about $75,000. 92.98% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the company. Zacks Investment Research raised AutoZone from a “hold” rating to a “buy” rating and set a $1,156.00 price objective on the stock in a research note on Friday, June 7th. JPMorgan Chase & Co. lifted their price target on AutoZone from $995.00 to $1,126.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Credit Suisse Group set a $1,131.00 price target on AutoZone and gave the company a “positive” rating in a research note on Tuesday, April 23rd. They noted that the move was a valuation call. Citigroup lifted their price target on AutoZone from $1,206.00 to $1,234.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Wedbush reissued an “outperform” rating and set a $1,100.00 price target (up from $1,030.00) on shares of AutoZone in a research note on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,017.31.
Shares of NYSE AZO traded up $1.93 during midday trading on Friday, hitting $1,115.88. 719 shares of the stock traded hands, compared to its average volume of 328,107. The company has a market cap of $27.15 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 1.45 and a beta of 0.64. AutoZone, Inc. has a one year low of $662.17 and a one year high of $1,120.00.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 21st. The company reported $15.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $15.23 by $0.76. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.77 billion. AutoZone had a negative return on equity of 97.19% and a net margin of 12.70%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $13.42 earnings per share. On average, equities analysts expect that AutoZone, Inc. will post 62.53 EPS for the current year.
In other AutoZone news, insider Mark A. Finestone sold 9,400 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $1,052.92, for a total value of $9,897,448.00. Following the transaction, the insider now owns 11,697 shares of the company’s stock, valued at $12,316,005.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas B. Newbern sold 7,500 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $995.92, for a total value of $7,469,400.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $12,023,742.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,237 shares of company stock valued at $33,558,782. Corporate insiders own 2.80% of the company’s stock.
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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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