Deutsche Bank AG purchased a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 68,473 shares of the company's stock, valued at approximately $218,836,000. Deutsche Bank AG owned 0.42% of AutoZone as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AZO. Morgan Stanley boosted 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 buying an additional 74,555 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of AutoZone by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company's stock worth $1,312,654,000 after buying an additional 7,390 shares in the last quarter. Norges Bank purchased a new stake in AutoZone in the 4th quarter worth approximately $939,205,000. First Manhattan CO. LLC. lifted 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. Finally, Northern Trust Corp boosted its holdings in shares of AutoZone by 1.2% during the third quarter. Northern Trust Corp now owns 189,789 shares of the company's stock worth $814,240,000 after purchasing an additional 2,333 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.
Analyst Ratings Changes
AZO has been the subject of several analyst reports. BMO Capital Markets dropped their target price on AutoZone from $4,300.00 to $4,000.00 and set an "outperform" rating for the company in a research note on Wednesday, May 27th. Robert W. Baird decreased their price target on AutoZone from $3,900.00 to $3,600.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 27th. Jefferies Financial Group lowered their price target on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating for the company in a report on Wednesday, May 27th. Barclays dropped their price objective on shares of AutoZone from $3,900.00 to $3,637.00 and set an "overweight" rating for the company in a research note on Tuesday, August 4th. Finally, Roth Capital cut their price objective on shares of AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, AutoZone presently has an average rating of "Moderate Buy" and an average price target of $4,029.43.
Read Our Latest Stock Report on AZO
AutoZone Stock Up 1.9%
Shares of NYSE AZO opened at $3,077.21 on Wednesday. The stock has a market capitalization of $50.25 billion, a PE ratio of 21.16, a P/E/G ratio of 1.54 and a beta of 0.33. The firm has a fifty day moving average of $3,061.14 and a 200-day moving average of $3,344.23. AutoZone, Inc. has a 52-week low of $2,902.20 and a 52-week high of $4,388.11.
AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $4.86 billion. During the same period last year, the company posted $35.36 EPS. The business's quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.
AutoZone declared that its Board of Directors has authorized a share repurchase plan on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Insider Transactions at AutoZone
In other AutoZone news, VP Dennis W. Leriche sold 1,455 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the sale, the vice president directly owned 441 shares in the company, valued at $1,367,100. This represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian Hannasch acquired 165 shares of the business's 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 acquisition, the director owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by insiders.
About AutoZone
(
Free Report)
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.
Further Reading
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