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.

Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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