Argonautica Private Wealth Management Inc. decreased its position in AutoZone, Inc. (NYSE:AZO – Free Report) by 15.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 72 shares of the company’s stock after selling 13 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in AutoZone were worth $267,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of AZO. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of AutoZone by 7,358.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock valued at $902,929,000 after purchasing an additional 239,970 shares during the period. Nuveen LLC acquired a new stake in shares of AutoZone in the 1st quarter valued at about $442,530,000. JPMorgan Chase & Co. raised its stake in shares of AutoZone by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock valued at $3,570,296,000 after purchasing an additional 65,368 shares during the period. Ninety One UK Ltd raised its stake in shares of AutoZone by 349.5% in the 2nd quarter. Ninety One UK Ltd now owns 74,400 shares of the company’s stock valued at $276,190,000 after purchasing an additional 57,849 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in shares of AutoZone by 4,484.3% in the 2nd quarter. Vontobel Holding Ltd. now owns 27,185 shares of the company’s stock valued at $100,917,000 after purchasing an additional 26,592 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.
Insiders Place Their Bets
In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president owned 1,244 shares of the company’s stock, valued at $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Philip B. Daniele sold 2,533 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the transaction, the chief executive officer directly owned 55 shares in the company, valued at approximately $221,148.40. This trade represents a 97.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,393 shares of company stock valued at $33,755,091 over the last 90 days. 2.10% of the stock is currently owned by insiders.
Analyst Ratings Changes
Check Out Our Latest Stock Report on AutoZone
AutoZone Stock Up 1.0%
Shares of NYSE AZO opened at $4,006.67 on Wednesday. The business’s 50 day moving average price is $4,149.72 and its two-hundred day moving average price is $3,868.90. The company has a market cap of $67.23 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.87 and a beta of 0.40. AutoZone, Inc. has a twelve month low of $2,980.10 and a twelve month high of $4,388.11.
AutoZone (NYSE:AZO – Get Free Report) last announced its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.AutoZone’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $51.58 EPS. As a group, research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.
AutoZone announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
AutoZone Profile
AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.
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