Fred Alger Management Inc. Takes $1.83 Million Position in AutoZone, Inc. (AZO)
Fred Alger Management Inc. bought a new stake in AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,573 shares of the company’s stock, valued at approximately $1,830,000.
Other large investors have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AutoZone in the 3rd quarter valued at $179,000. Jarislowsky Fraser Ltd acquired a new stake in shares of AutoZone in the 3rd quarter valued at $202,000. First Republic Investment Management Inc. acquired a new stake in shares of AutoZone in the 4th quarter valued at $202,000. Flagship Harbor Advisors LLC acquired a new position in AutoZone during the 4th quarter worth about $211,000. Finally, Bfsg LLC acquired a new position in AutoZone during the 4th quarter worth about $213,000. Institutional investors own 95.82% of the company’s stock.
AutoZone, Inc. (NYSE:AZO) opened at $650.09 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.14 and a debt-to-equity ratio of -3.27. AutoZone, Inc. has a 52-week low of $491.13 and a 52-week high of $797.89. The stock has a market cap of $17,801.99, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.04 and a beta of 0.85.
Several research analysts recently issued reports on AZO shares. Zacks Investment Research downgraded shares of AutoZone from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. UBS Group reiterated a “buy” rating and set a $750.00 price target (up previously from $655.00) on shares of AutoZone in a research report on Wednesday, November 29th. Raymond James Financial reiterated a “hold” rating on shares of AutoZone in a research report on Saturday, December 2nd. Moffett Nathanson started coverage on shares of AutoZone in a research report on Monday, December 4th. They set a “neutral” rating on the stock. Finally, Citigroup upped their price target on shares of AutoZone to $820.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $754.28.
In other AutoZone news, insider James C. Griffith sold 1,250 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $794.70, for a total transaction of $993,375.00. Following the transaction, the insider now directly owns 1,353 shares in the company, valued at approximately $1,075,229.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James C. Griffith sold 1,547 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $783.00, for a total transaction of $1,211,301.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,887 shares of company stock worth $14,165,983. Corporate insiders own 2.80% of the company’s stock.
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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 October 27, 2016, the Company operated through 6,029 locations in the United States, Puerto Rico, Mexico and Brazil.
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