Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 16.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,260 shares of the company's stock after purchasing an additional 452 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in AutoZone were worth $12,102,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the business. Blue Trust Inc. lifted its stake in AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after acquiring an additional 3 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its stake in AutoZone by 10.1% during the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock worth $11,267,000 after buying an additional 271 shares during the last quarter. Kirr Marbach & Co. LLC IN grew its stake in AutoZone by 0.9% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock worth $29,591,000 after buying an additional 68 shares during the last quarter. Banco Santander S.A. grew its stake in AutoZone by 98.3% during the 1st quarter. Banco Santander S.A. now owns 829 shares of the company's stock worth $3,161,000 after buying an additional 411 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in AutoZone during the 1st quarter worth approximately $545,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on AZO shares. JPMorgan Chase & Co. raised their price target on AutoZone from $4,200.00 to $4,850.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Cowen restated a "buy" rating on shares of AutoZone in a research note on Thursday, September 18th. UBS Group dropped their price target on AutoZone from $4,925.00 to $4,800.00 and set a "buy" rating on the stock in a research note on Wednesday, September 24th. Raymond James Financial dropped their price target on AutoZone from $4,900.00 to $4,800.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, September 24th. Finally, Roth Capital reiterated a "buy" rating and issued a $4,750.00 target price (down from $4,800.00) on shares of AutoZone in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $4,538.21.
Read Our Latest Stock Analysis on AZO
Insider Activity at AutoZone
In other news, VP John Scott Murphy sold 2,860 shares of the firm'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 value of $11,942,502.00. Following the completion of the sale, the vice president directly owned 1,244 shares of the company's stock, valued at $5,194,570.80. This trade represents a 69.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president directly owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.
AutoZone Price Performance
AZO opened at $4,219.73 on Friday. The business has a 50 day simple moving average of $4,126.05 and a 200-day simple moving average of $3,842.55. The stock has a market capitalization of $70.81 billion, a P/E ratio of 29.13, a P/E/G ratio of 1.98 and a beta of 0.40. AutoZone, Inc. has a 12 month low of $2,980.10 and a 12 month high of $4,388.11.
AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate of $50.52 by ($1.81). The business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $51.58 earnings per share. Research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.
About AutoZone
(
Free Report)
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.
Further Reading
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