Harvest Fund Management Co. Ltd lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 30.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169 shares of the company’s stock after selling 73 shares during the period. Harvest Fund Management Co. Ltd’s holdings in AutoZone were worth $186,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Meridian Wealth Management LLC purchased a new stake in AutoZone in the 1st quarter valued at about $26,000. Coastal Investment Advisors Inc. purchased a new stake in AutoZone in the 2nd quarter valued at about $26,000. Virtus ETF Advisers LLC purchased a new stake in AutoZone in the 2nd quarter valued at about $27,000. Redhawk Wealth Advisors Inc. purchased a new stake in AutoZone in the 2nd quarter valued at about $31,000. Finally, Advantage Investment Management LLC increased its stake in AutoZone by 46.4% in the 2nd quarter. Advantage Investment Management LLC now owns 41 shares of the company’s stock valued at $45,000 after buying an additional 13 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.
AZO has been the subject of several analyst reports. Morgan Stanley increased their price objective on shares of AutoZone from $1,050.00 to $1,100.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Citigroup increased their price objective on shares of AutoZone from $1,234.00 to $1,357.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Zacks Investment Research upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $1,156.00 price objective for the company in a research note on Friday, June 7th. CIBC upgraded shares of AutoZone from a “market perform” rating to an “outperform” rating in a research note on Friday, June 28th. Finally, Wedbush reissued an “outperform” rating and set a $1,240.00 target price (up from $1,100.00) on shares of AutoZone in a research report on Thursday, September 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $1,128.00.
In other news, Director Earl G. Graves, Jr. sold 500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $1,077.04, for a total transaction of $538,520.00. Following the completion of the transaction, the director now directly owns 4,607 shares of the company’s stock, valued at approximately $4,961,923.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by corporate insiders.
Shares of AutoZone stock traded up $3.37 on Monday, reaching $1,089.02. 75,307 shares of the company traded hands, compared to its average volume of 267,848. AutoZone, Inc. has a 52 week low of $705.01 and a 52 week high of $1,186.60. The company has a 50 day moving average of $1,110.74 and a 200 day moving average of $1,075.80. The firm has a market capitalization of $26.63 billion, a PE ratio of 17.17, a PEG ratio of 1.36 and a beta of 0.65.
AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 24th. The company reported $22.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $21.80 by $0.79. AutoZone had a net margin of 13.63% and a negative return on equity of 98.67%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the firm earned $18.54 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts predict that AutoZone, Inc. will post 65.2 EPS for the current year.
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.
Receive News & Ratings for AutoZone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone and related companies with MarketBeat.com's FREE daily email newsletter.