Harvest Fund Management Co. Ltd Sells 92 Shares of AutoZone, Inc. (NYSE:AZO)

Harvest Fund Management Co. Ltd lessened its stake in AutoZone, Inc. (NYSE:AZO) by 69.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40 shares of the company’s stock after selling 92 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in AutoZone were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Wealth Quarterback LLC bought a new position in shares of AutoZone in the fourth quarter valued at approximately $5,333,210,000. FMR LLC lifted its holdings in shares of AutoZone by 2.4% in the fourth quarter. FMR LLC now owns 1,313,822 shares of the company’s stock valued at $1,565,169,000 after purchasing an additional 31,283 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of AutoZone by 15.9% in the fourth quarter. Fiera Capital Corp now owns 605,728 shares of the company’s stock valued at $721,610,000 after purchasing an additional 83,222 shares in the last quarter. Norges Bank bought a new stake in AutoZone during the fourth quarter worth $313,996,000. Finally, Bank of New York Mellon Corp lifted its holdings in AutoZone by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 197,306 shares of the company’s stock worth $166,920,000 after acquiring an additional 1,425 shares during the period. Institutional investors own 91.63% of the company’s stock.

In related news, Director Michael M. Calbert purchased 2,000 shares of AutoZone stock in a transaction dated Monday, March 16th. The stock was bought at an average cost of $886.00 per share, for a total transaction of $1,772,000.00. Following the completion of the transaction, the director now owns 835 shares in the company, valued at $739,810. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by insiders.

Shares of NYSE AZO opened at $1,104.47 on Friday. The stock has a market cap of $25.99 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88. AutoZone, Inc. has a fifty-two week low of $684.91 and a fifty-two week high of $1,274.41. The stock has a fifty day moving average of $984.81 and a 200-day moving average of $1,074.09.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $12.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $11.75 by $0.64. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.56 billion. AutoZone had a negative return on equity of 95.47% and a net margin of 13.42%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $11.49 earnings per share. Analysts predict that AutoZone, Inc. will post 61.01 EPS for the current fiscal year.

A number of brokerages recently commented on AZO. Cfra upgraded AutoZone from a “buy” rating to a “strong-buy” rating and dropped their price target for the stock from $1,325.00 to $1,250.00 in a report on Tuesday, March 3rd. Wells Fargo & Co lifted their price target on AutoZone from $1,050.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Bank of America lifted their price target on AutoZone from $950.00 to $1,070.00 and gave the stock a “neutral” rating in a report on Sunday, April 19th. Nomura Securities dropped their price target on AutoZone from $1,090.00 to $1,031.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Finally, Credit Suisse Group dropped their price target on AutoZone from $1,350.00 to $1,015.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. AutoZone currently has an average rating of “Buy” and an average target price of $1,184.59.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company 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. Its 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, starters and alternators, thermostats, and water pumps.

See Also: Arbitrage

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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