QV Investors Inc. Invests $33.61 Million in AutoZone, Inc. (NYSE:AZO)
QV Investors Inc. bought a new position in AutoZone, Inc. (NYSE:AZO) during the second quarter, according to its most recent 13F filing with the SEC. The firm bought 58,910 shares of the company’s stock, valued at approximately $33,605,000. AutoZone makes up approximately 2.8% of QV Investors Inc.’s portfolio, making the stock its 12th largest position.
Several other institutional investors have also recently modified their holdings of the company. Stevens Capital Management LP increased its position 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 worth $5,559,000 after buying an additional 3,400 shares during the last quarter. BTIM Corp. increased its position in shares of AutoZone by 6.9% in the first quarter. BTIM Corp. now owns 15,462 shares of the company’s stock worth $11,180,000 after buying an additional 1,002 shares during the last quarter. Iberiabank Corp increased its position in shares of AutoZone by 32.0% in the second quarter. Iberiabank Corp now owns 1,340 shares of the company’s stock worth $764,000 after buying an additional 325 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of AutoZone by 2.2% in the first quarter. Pacer Advisors Inc. now owns 507 shares of the company’s stock worth $367,000 after buying an additional 11 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its position 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 worth $324,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.
Shares of AutoZone, Inc. (AZO) opened at 533.94 on Friday. The stock has a market capitalization of $14.97 billion, a PE ratio of 12.33 and a beta of 0.61. The stock has a 50 day moving average of $528.38 and a 200-day moving average of $650.21. AutoZone, Inc. has a one year low of $491.13 and a one year high of $813.70.
AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $12.00 by $0.56. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.77 earnings per share. Equities analysts predict that AutoZone, Inc. will post $43.99 earnings per share for the current fiscal year.
AZO has been the subject of a number of analyst reports. Barclays PLC lowered their target price on shares of AutoZone from $870.00 to $710.00 and set an “overweight” rating for the company in a research note on Thursday, July 6th. Wolfe Research downgraded shares of AutoZone from a “market perform” rating to an “underperform” rating in a research note on Monday, July 17th. BidaskClub upgraded shares of AutoZone from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) upgraded shares of AutoZone from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $615.62 to $662.00 in a research note on Tuesday, May 30th. They noted that the move was a valuation call. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of AutoZone in a research note on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. AutoZone presently has an average rating of “Hold” and an average target price of $775.91.
In related news, Director Earl G. Graves, Jr. sold 1,000 shares of AutoZone stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $602.50, for a total value of $602,500.00. Following the sale, the director now directly owns 4,431 shares in the company, valued at approximately $2,669,677.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William Andrew Mckenna acquired 300 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was purchased at an average price 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 $2,601,417. The disclosure for this purchase can be found here. Company 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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