ProShare Advisors LLC Has $3.01 Million Stake in AutoZone, Inc. (AZO)
ProShare Advisors LLC lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,273 shares of the company’s stock after buying an additional 29 shares during the period. ProShare Advisors LLC’s holdings in AutoZone were worth $3,008,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. American Beacon Advisors Inc. purchased a new position in shares of AutoZone during the 1st quarter worth approximately $104,000. Alpha Windward LLC raised its stake in shares of AutoZone by 3.2% during the 2nd quarter. Alpha Windward LLC now owns 259 shares of the company’s stock worth $148,000 after buying an additional 8 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of AutoZone by 12.9% during the 2nd quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock worth $184,000 after buying an additional 37 shares in the last quarter. Colony Group LLC purchased a new position in shares of AutoZone during the 1st quarter worth approximately $205,000. Finally, Wesbanco Bank Inc. raised its stake in shares of AutoZone by 17.7% during the 2nd quarter. Wesbanco Bank Inc. now owns 365 shares of the company’s stock worth $208,000 after buying an additional 55 shares in the last quarter. 96.08% of the stock is owned by institutional investors and hedge funds.
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A number of equities analysts have recently issued reports on AZO shares. Goldman Sachs Group, Inc. (The) raised AutoZone from a “neutral” rating to a “buy” rating and increased 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. Wedbush downgraded AutoZone from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $660.00 to $650.00 in a research note on Tuesday, May 30th. ValuEngine downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. TheStreet raised AutoZone from a “d+” rating to a “c” rating in a research note on Wednesday, June 7th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of AutoZone in a research note on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. AutoZone has a consensus rating of “Hold” and a consensus target price of $747.27.
Shares of AutoZone, Inc. (AZO) opened at 574.03 on Friday. The firm has a market cap of $15.98 billion, a PE ratio of 13.03 and a beta of 0.62. AutoZone, Inc. has a one year low of $491.13 and a one year high of $813.70. The firm’s 50-day moving average price is $534.42 and its 200-day moving average price is $611.55.
AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $15.11 by $0.07. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.49 billion. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $14.30 earnings per share. Equities research analysts expect that AutoZone, Inc. will post $47.03 earnings per share for the current fiscal year.
In related news, Director William Andrew Mckenna purchased 300 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were bought at an average price of $507.00 per share, with a total value of $152,100.00. Following the completion of the acquisition, the director now owns 5,131 shares of the company’s stock, valued at $2,601,417. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William T. Giles sold 10,000 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 18,500 shares in the company, valued at approximately $10,750,350. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.
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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