Bank of New York Mellon Corp Sells 871 Shares of AutoZone, Inc. (AZO)
Bank of New York Mellon Corp lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 0.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 224,862 shares of the company’s stock after selling 871 shares during the period. Bank of New York Mellon Corp owned 0.82% of AutoZone worth $133,819,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Fieldpoint Private Securities LLC purchased a new stake in AutoZone in the 2nd quarter worth $114,000. Salem Investment Counselors Inc. increased its stake in AutoZone by 3.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after buying an additional 9 shares in the last quarter. Global X Management Co. LLC increased its stake in AutoZone by 12.9% in 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. Jarislowsky Fraser Ltd purchased a new stake in AutoZone in the 3rd quarter worth $202,000. Finally, Wesbanco Bank Inc. increased its stake in AutoZone by 17.7% in 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. Institutional investors and hedge funds own 98.66% of the company’s stock.
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Shares of AutoZone, Inc. (NYSE:AZO) opened at $632.40 on Wednesday. The company has a debt-to-equity ratio of -3.56, a current ratio of 0.97 and a quick ratio of 0.15. The stock has a market cap of $17,390.00, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.17 and a beta of 0.65. AutoZone, Inc. has a 12 month low of $491.13 and a 12 month high of $813.70.
AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $15.11 by $0.07. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter in the previous year, the firm posted $14.30 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. equities analysts forecast that AutoZone, Inc. will post 46.78 EPS for the current year.
In other news, Director William Andrew Mckenna sold 3,000 shares of AutoZone stock in a transaction that occurred on Thursday, September 28th. The shares were 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 owns 8,131 shares of the company’s stock, valued at $4,756,309.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.
A number of equities research analysts have issued reports on the company. Zacks Investment Research lowered AutoZone from a “hold” rating to a “sell” rating in a research note on Tuesday. Stephens reiterated a “hold” rating and issued a $550.00 price target (down previously from $620.00) on shares of AutoZone in a research note on Thursday, September 21st. Royal Bank Of Canada cut their price target on AutoZone from $577.00 to $571.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 20th. Wedbush reiterated a “hold” rating and issued a $580.00 price target (down previously from $590.00) on shares of AutoZone in a research note on Wednesday, September 20th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $590.00 price target on shares of AutoZone in a research note on Friday, October 27th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average 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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