AutoZone, Inc. (AZO) Holdings Decreased by Principal Financial Group Inc.
Principal Financial Group Inc. lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 91.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,242 shares of the company’s stock after selling 450,473 shares during the quarter. Principal Financial Group Inc. owned approximately 0.15% of AutoZone worth $25,139,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of AZO. JPMorgan Chase & Co. lifted its stake 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 worth $580,966,000 after purchasing an additional 380,824 shares during the period. Nordea Investment Management AB raised its position in shares of AutoZone by 44.9% in the 2nd quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock worth $585,917,000 after buying an additional 318,188 shares during the period. Koch Industries Inc. purchased a new position in shares of AutoZone in the 2nd quarter worth $297,000. CI Global Investments Inc. raised its position in shares of AutoZone by 437.2% in the 2nd quarter. CI Global Investments Inc. now owns 321,207 shares of the company’s stock worth $183,236,000 after buying an additional 261,417 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of AutoZone by 4,644.0% in the 2nd quarter. Janus Henderson Group PLC now owns 194,079 shares of the company’s stock worth $110,713,000 after buying an additional 189,988 shares during the period. 98.66% of the stock is currently owned by institutional investors.
Shares of AutoZone, Inc. (NYSE AZO) opened at $634.65 on Tuesday. The company has a debt-to-equity ratio of -3.56, a quick ratio of 0.15 and a current ratio of 0.97. The firm has a market capitalization of $17,420.00, a PE ratio of 14.29, a PEG ratio of 1.16 and a beta of 0.65. AutoZone, Inc. has a 52 week low of $491.13 and a 52 week high of $813.70.
AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share for the quarter, beating the consensus estimate of $15.11 by $0.07. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.49 billion. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $14.30 earnings per share. sell-side analysts predict that AutoZone, Inc. will post 46.78 EPS for the current fiscal year.
In other news, Director William Andrew Mckenna sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the completion of the sale, the director now directly owns 8,131 shares in the company, valued at $4,756,309.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by company insiders.
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Several research analysts recently weighed in on the company. Robert W. Baird reaffirmed a “hold” rating and issued a $590.00 target price on shares of AutoZone in a research report on Friday, October 27th. Credit Suisse Group set a $640.00 target price on AutoZone and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Zacks Investment Research lowered AutoZone from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of AutoZone in a research report on Thursday, September 21st. Finally, Stephens reaffirmed a “hold” rating and issued a $550.00 target price (down from $620.00) on shares of AutoZone in a research report on Thursday, September 21st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $724.45.
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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