Todd Asset Management LLC boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 6,846.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,535 shares of the company’s stock after acquiring an additional 21,225 shares during the quarter. Todd Asset Management LLC owned 0.08% of AutoZone worth $13,970,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in AZO. Vulcan Value Partners LLC purchased a new position in AutoZone during the 4th quarter valued at about $291,129,000. Millennium Management LLC boosted its holdings in AutoZone by 250.1% during the 4th quarter. Millennium Management LLC now owns 446,202 shares of the company’s stock valued at $317,415,000 after acquiring an additional 318,764 shares during the period. JPMorgan Chase & Co. boosted its holdings in AutoZone by 10.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,792,694 shares of the company’s stock valued at $1,162,902,000 after acquiring an additional 165,885 shares during the period. Kiltearn Partners LLP purchased a new position in AutoZone during the 4th quarter valued at about $101,122,000. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of AutoZone by 106.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 162,370 shares of the company’s stock valued at $115,505,000 after buying an additional 83,625 shares during the period. Institutional investors own 88.96% of the company’s stock.
Several equities analysts have recently issued reports on AZO shares. Zacks Investment Research upgraded AutoZone from a “hold” rating to a “buy” rating and set a $819.00 price objective for the company in a research note on Tuesday, February 6th. Argus lifted their price objective on AutoZone from $675.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Credit Suisse Group upgraded AutoZone to a “buy” rating and set a $790.00 price objective for the company in a research note on Friday, March 2nd. Citigroup decreased their price objective on AutoZone from $820.00 to $790.00 and set a “buy” rating for the company in a research note on Thursday, March 1st. Finally, Wells Fargo & Co reiterated a “buy” rating and issued a $700.00 price objective on shares of AutoZone in a research note on Tuesday, May 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $724.30.
In other AutoZone news, Director Douglas H. Brooks bought 162 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The stock was purchased at an average price of $607.49 per share, for a total transaction of $98,413.38. Following the completion of the purchase, the director now directly owns 1,904 shares in the company, valued at $1,156,660.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by insiders.
AZO stock opened at $633.70 on Friday. The company has a market cap of $17.27 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 0.89 and a beta of 0.85. AutoZone, Inc. has a fifty-two week low of $491.13 and a fifty-two week high of $797.89. The company has a debt-to-equity ratio of -3.79, a current ratio of 0.98 and a quick ratio of 0.15.
AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 22nd. The company reported $13.42 earnings per share for the quarter, topping the consensus estimate of $12.99 by $0.43. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.71 billion. AutoZone had a negative return on equity of 88.86% and a net margin of 12.00%. The firm’s revenue was down 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $11.44 earnings per share. sell-side analysts anticipate that AutoZone, Inc. will post 49.85 earnings per share for the current fiscal year.
AutoZone announced that its board has authorized a stock repurchase program on Tuesday, March 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
AutoZone, Inc retails and distributes automotive replacement parts and accessories. It offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. The company's products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, thermostats, starters and alternators, and water pumps.
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