Wealthfront Advisers LLC increased its holdings in AutoZone, Inc. (NYSE:AZO – Free Report) by 13.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,820 shares of the company’s stock after buying an additional 216 shares during the period. Wealthfront Advisers LLC’s holdings in AutoZone were worth $6,148,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of AZO. Morgan Stanley lifted its holdings in AutoZone by 17.8% during the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after acquiring an additional 74,555 shares during the period. Price T Rowe Associates Inc. MD grew its stake in AutoZone by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock valued at $1,312,654,000 after purchasing an additional 7,390 shares during the period. Norges Bank purchased a new stake in shares of AutoZone during the 4th quarter valued at $939,205,000. PineStone Asset Management Inc. increased its position in shares of AutoZone by 1.5% during the 4th quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock valued at $912,900,000 after purchasing an additional 3,868 shares during the last quarter. Finally, First Manhattan CO. LLC. raised its stake in shares of AutoZone by 2.7% during the 4th quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company’s stock worth $886,246,000 after purchasing an additional 6,765 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at AutoZone
In other AutoZone news, Director Brian Hannasch bought 165 shares of AutoZone stock in a transaction dated Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
AutoZone Stock Performance
AZO stock opened at $3,046.69 on Friday. The stock has a fifty day moving average of $3,142.61 and a 200-day moving average of $3,416.46. AutoZone, Inc. has a fifty-two week low of $2,928.11 and a fifty-two week high of $4,388.11. The company has a market capitalization of $49.74 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.55 and a beta of 0.33.
AutoZone (NYSE:AZO – Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $35.36 EPS. Equities analysts predict that AutoZone, Inc. will post 150.51 EPS for the current year.
AutoZone declared that its board has authorized a share repurchase plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management 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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