Private Management Group Inc. grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 61.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,905 shares of the company’s stock after purchasing an additional 23,150 shares during the quarter. AutoZone makes up about 1.9% of Private Management Group Inc.’s investment portfolio, making the stock its 13th biggest position. Private Management Group Inc. owned 0.22% of AutoZone worth $36,245,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. Alpha Windward LLC lifted its stake in shares of AutoZone by 3.2% during the 2nd quarter. Alpha Windward LLC now owns 259 shares of the company’s stock worth $148,000 after purchasing an additional 8 shares during the period. Nippon Life Insurance Co. lifted its stake in shares of AutoZone by 0.4% during the 2nd quarter. Nippon Life Insurance Co. now owns 2,022 shares of the company’s stock worth $1,153,000 after purchasing an additional 8 shares during the period. Cetera Investment Advisers lifted its stake in shares of AutoZone by 1.1% during the 2nd quarter. Cetera Investment Advisers now owns 730 shares of the company’s stock worth $417,000 after purchasing an additional 8 shares during the period. Salem Investment Counselors Inc. lifted its stake in shares of AutoZone by 3.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after purchasing an additional 9 shares during the period. Finally, Creative Planning lifted its stake in shares of AutoZone by 0.7% during the 2nd quarter. Creative Planning now owns 1,986 shares of the company’s stock worth $1,133,000 after purchasing an additional 14 shares during the period. 98.25% of the stock is currently owned by institutional investors.
AutoZone, Inc. (AZO) traded up $12.37 during midday trading on Wednesday, hitting $607.63. 692,300 shares of the company were exchanged, compared to its average volume of 458,341. AutoZone, Inc. has a fifty-two week low of $491.13 and a fifty-two week high of $813.70. The company has a quick ratio of 0.15, a current ratio of 0.97 and a debt-to-equity ratio of -3.56. The firm has a market capitalization of $16,365.20, a price-to-earnings ratio of 13.51, a PEG ratio of 1.10 and a beta of 0.65.
AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $15.11 by $0.07. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.49 billion. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $14.30 earnings per share. analysts forecast that AutoZone, Inc. will post 46.78 EPS for the current year.
A number of analysts have recently commented on AZO shares. Oppenheimer Holdings, Inc. dropped their price objective on AutoZone and set an “outperform” rating for the company in a report on Thursday, July 20th. Deutsche Bank AG restated a “hold” rating and set a $550.00 price objective (down from $650.00) on shares of AutoZone in a report on Friday, July 21st. BidaskClub upgraded AutoZone from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded AutoZone from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $625.00 price target on shares of AutoZone in a report on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $724.45.
In other AutoZone 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 value of $1,754,880.00. Following the transaction, the director now owns 8,131 shares in the company, valued at $4,756,309.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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