116 Shares in AutoZone, Inc. (NYSE:AZO) Bought by Power Corp of Canada

Power Corp of Canada acquired a new position in AutoZone, Inc. (NYSE:AZO – Get Rating) during the third quarter, Holdings Channel reports. The firm acquired 116 shares of the company’s stock, valued at approximately $248,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AZO. Keybank National Association OH increased its stake in AutoZone by 1.0% in the third quarter. Keybank National Association OH now owns 388 shares of the company’s stock valued at $831,000 after acquiring an additional 4 shares during the last quarter. Apollon Wealth Management LLC increased its stake in AutoZone by 1.6% in the second quarter. Apollon Wealth Management LLC now owns 327 shares of the company’s stock valued at $703,000 after acquiring an additional 5 shares during the last quarter. Allworth Financial LP increased its stake in AutoZone by 17.9% in the third quarter. Allworth Financial LP now owns 33 shares of the company’s stock valued at $71,000 after acquiring an additional 5 shares during the last quarter. Berger Financial Group Inc increased its stake in AutoZone by 4.2% in the third quarter. Berger Financial Group Inc now owns 124 shares of the company’s stock valued at $266,000 after acquiring an additional 5 shares during the last quarter. Finally, Contravisory Investment Management Inc. increased its stake in AutoZone by 3.2% in the third quarter. Contravisory Investment Management Inc. now owns 195 shares of the company’s stock valued at $418,000 after acquiring an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 91.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AZO. Raymond James increased their target price on AutoZone from $2,600.00 to $2,650.00 and gave the company an “outperform” rating in a research note on Wednesday, March 1st. Stephens raised their price objective on AutoZone to $2,800.00 in a research note on Friday, December 2nd. DA Davidson raised their target price on AutoZone from $1,950.00 to $2,360.00 in a research note on Wednesday, December 7th. Citigroup raised their target price on AutoZone from $2,520.00 to $2,782.00 in a research note on Wednesday, December 7th. Finally, Roth Capital restated a “buy” rating on shares of AutoZone in a report on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,652.76.

Insider Activity

In other news, VP Grant E. Mcgee sold 500 shares of the company’s stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $2,400.00, for a total transaction of $1,200,000.00. Following the sale, the vice president now directly owns 244 shares in the company, valued at approximately $585,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director George R. Mrkonic, Jr. sold 138 shares of the company’s stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $2,441.21, for a total transaction of $336,886.98. Following the sale, the director now directly owns 3,764 shares in the company, valued at approximately $9,188,714.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Grant E. Mcgee sold 500 shares of the company’s stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $2,400.00, for a total transaction of $1,200,000.00. Following the sale, the vice president now owns 244 shares in the company, valued at $585,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,361 shares of company stock worth $22,971,862. 2.59% of the stock is currently owned by corporate insiders.

AutoZone Stock Down 0.5 %

Shares of AZO stock opened at $2,415.68 on Thursday. The stock has a market cap of $45.33 billion, a P/E ratio of 19.86, a PEG ratio of 1.67 and a beta of 0.69. AutoZone, Inc. has a 52 week low of $1,703.32 and a 52 week high of $2,610.05. The company’s fifty day simple moving average is $2,454.52 and its two-hundred day simple moving average is $2,383.11.

AutoZone (NYSE:AZO – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $24.64 EPS for the quarter, topping the consensus estimate of $21.33 by $3.31. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.56 billion. AutoZone had a net margin of 14.32% and a negative return on equity of 64.72%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $22.30 EPS. On average, analysts anticipate that AutoZone, Inc. will post 127.22 EPS for the current fiscal year.

AutoZone Company Profile

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AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.