SevenBridge Financial Group LLC lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO – Free Report) by 35.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,104 shares of the company’s stock after purchasing an additional 291 shares during the quarter. SevenBridge Financial Group LLC’s holdings in AutoZone were worth $3,963,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in AutoZone during the 4th quarter worth approximately $939,205,000. Morgan Stanley boosted its holdings in shares of AutoZone by 17.8% in the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after buying an additional 74,555 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of AutoZone by 387.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after buying an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of AutoZone by 39.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock worth $584,730,000 after acquiring an additional 50,071 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of AutoZone by 80.8% during the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after acquiring an additional 45,212 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.
Insider Activity at AutoZone
In related news, Director Brian Hannasch acquired 165 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their position. The SEC filing for this sale provides additional information. 2.60% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
View Our Latest Report on AutoZone
AutoZone Price Performance
Shares of NYSE:AZO opened at $3,146.30 on Tuesday. The company’s 50-day moving average price is $3,281.40 and its two-hundred day moving average price is $3,451.83. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11. The stock has a market capitalization of $51.38 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.59 and a beta of 0.35.
AutoZone (NYSE:AZO – Get Free Report) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the business earned $35.36 earnings per share. AutoZone’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts anticipate that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.
AutoZone announced that its Board of Directors has initiated a share buyback plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
AutoZone Company Profile
AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.
AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.
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