Marco Investment Management LLC Has $1,064,000 Holdings in AutoZone, Inc. (AZO)
Marco Investment Management LLC continued to hold its position in shares of AutoZone, Inc. (NYSE:AZO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,865 shares of the company’s stock at the end of the 2nd quarter. Marco Investment Management LLC’s holdings in AutoZone were worth $1,064,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZO. BlackRock Inc. boosted its holdings in shares of AutoZone by 2,993.2% during the 1st quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock valued at $1,467,778,000 after acquiring an additional 1,964,358 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of AutoZone by 59.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,018,416 shares of the company’s stock valued at $580,966,000 after acquiring an additional 380,824 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of AutoZone by 103.6% during the 1st quarter. OppenheimerFunds Inc. now owns 693,624 shares of the company’s stock valued at $501,525,000 after acquiring an additional 352,990 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of AutoZone by 44.9% during the 2nd quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock valued at $585,917,000 after acquiring an additional 318,188 shares in the last quarter. Finally, CI Global Investments Inc. boosted its holdings in shares of AutoZone by 437.2% during the 2nd quarter. CI Global Investments Inc. now owns 321,207 shares of the company’s stock valued at $183,236,000 after acquiring an additional 261,417 shares in the last quarter. 96.08% of the stock is currently owned by institutional investors.
In related news, Director William Andrew Mckenna acquired 300 shares of the stock in a transaction on Thursday, July 13th. The stock was acquired at an average cost of $507.00 per share, for a total transaction of $152,100.00. Following the completion of the acquisition, the director now directly owns 5,131 shares of the company’s stock, valued at approximately $2,601,417. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP William T. Giles sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the completion of the sale, the vice president now owns 18,500 shares of the company’s stock, valued at $10,750,350. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
Several equities research analysts recently weighed in on AZO shares. Royal Bank Of Canada cut their price objective on AutoZone from $577.00 to $571.00 and set a “sector perform” rating on the stock in a report on Wednesday. Morgan Stanley downgraded AutoZone from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of AutoZone in a report on Tuesday, June 20th. UBS AG reaffirmed a “buy” rating and set a $655.00 target price (down from $725.00) on shares of AutoZone in a report on Wednesday. Finally, ValuEngine downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have given 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 price target of $747.27.
Shares of AutoZone, Inc. (AZO) traded up 3.71% on Friday, hitting $574.03. The stock had a trading volume of 729,263 shares. The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of 13.03 and a beta of 0.62. The firm has a 50 day moving average of $534.42 and a 200-day moving average of $611.55. AutoZone, Inc. has a 1-year low of $491.13 and a 1-year high of $813.70.
AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $15.11 by $0.07. The company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.49 billion. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. AutoZone’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $14.30 earnings per share. Equities analysts predict that AutoZone, Inc. will post $47.03 earnings per share for the current year.
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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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