Nippon Life Global Investors Americas Inc. reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 44.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,600 shares of the company’s stock after selling 7,630 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in AutoZone were worth $5,476,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Stevens Capital Management LP increased its stake in shares of AutoZone by 79.3% in the first quarter. Stevens Capital Management LP now owns 7,688 shares of the company’s stock valued at $5,559,000 after buying an additional 3,400 shares during the period. BTIM Corp. increased its stake in shares of AutoZone by 6.9% in the first quarter. BTIM Corp. now owns 15,462 shares of the company’s stock valued at $11,180,000 after buying an additional 1,002 shares during the period. Iberiabank Corp increased its stake in shares of AutoZone by 32.0% in the second quarter. Iberiabank Corp now owns 1,340 shares of the company’s stock valued at $764,000 after buying an additional 325 shares during the period. Pacer Advisors Inc. increased its stake in shares of AutoZone by 2.2% in the first quarter. Pacer Advisors Inc. now owns 507 shares of the company’s stock valued at $367,000 after buying an additional 11 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of AutoZone by 5.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 448 shares of the company’s stock valued at $324,000 after buying an additional 23 shares during the period. 97.11% of the stock is owned by institutional investors.

AutoZone, Inc. (NYSE:AZO) opened at 533.94 on Friday. The company has a market capitalization of $14.97 billion, a PE ratio of 12.33 and a beta of 0.61. The company’s 50-day moving average price is $528.38 and its 200 day moving average price is $650.21. AutoZone, Inc. has a 52 week low of $491.13 and a 52 week high of $813.70.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.00 by $0.56. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.70 billion. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.77 earnings per share. On average, equities research analysts anticipate that AutoZone, Inc. will post $43.99 EPS for the current year.

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AZO has been the subject of several recent research reports. Barclays PLC lowered their price objective on shares of AutoZone from $870.00 to $710.00 and set an “overweight” rating for the company in a research report on Thursday, July 6th. Wolfe Research downgraded shares of AutoZone from a “market perform” rating to an “underperform” rating in a research report on Monday, July 17th. BidaskClub raised shares of AutoZone from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Goldman Sachs Group, Inc. (The) raised shares of AutoZone from a “neutral” rating to a “buy” rating and increased their price objective for the company from $615.62 to $662.00 in a research report on Tuesday, May 30th. They noted that the move was a valuation call. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of AutoZone in a research report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $775.91.

In other news, Director William Andrew Mckenna acquired 300 shares of the stock in a transaction dated Thursday, July 13th. The shares were acquired at an average cost of $507.00 per share, for a total transaction of $152,100.00. Following the completion of the transaction, the director now owns 5,131 shares in the company, valued at approximately $2,601,417. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William T. Giles sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total value of $5,811,000.00. Following the sale, the vice president now owns 18,500 shares in the company, valued at $10,750,350. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

AutoZone Company Profile

Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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