Toroso Investments LLC lessened its position in shares of AutoZone, Inc. (NYSE:AZO – Get Rating) by 3.0% during the third quarter, Holdings Channel reports. The institutional investor owned 1,275 shares of the company’s stock after selling 39 shares during the quarter. Toroso Investments LLC’s holdings in AutoZone were worth $2,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in AZO. Royal Bank of Canada increased its stake in AutoZone by 368.0% in the 1st quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock worth $841,242,000 after acquiring an additional 323,536 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in AutoZone in the 3rd quarter worth about $88,576,000. Price T Rowe Associates Inc. MD increased its stake in AutoZone by 24.6% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 141,802 shares of the company’s stock worth $303,731,000 after acquiring an additional 28,025 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in AutoZone by 297.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 32,749 shares of the company’s stock worth $70,146,000 after acquiring an additional 24,519 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in AutoZone in the 3rd quarter worth about $51,994,000. Hedge funds and other institutional investors own 91.12% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. UBS Group upped their target price on AutoZone from $2,260.00 to $2,540.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 7th. Roth Capital reiterated a “buy” rating on shares of AutoZone in a research report on Tuesday, February 28th. Bank of America lowered AutoZone from a “neutral” rating to an “underperform” rating in a research report on Wednesday, December 14th. DA Davidson increased their price objective on AutoZone from $1,950.00 to $2,360.00 in a research report on Wednesday, December 7th. Finally, Wells Fargo & Company increased their price objective on AutoZone from $2,450.00 to $2,850.00 and gave the company an “overweight” rating in a research report on Tuesday, November 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $2,652.76.
AutoZone Stock Performance
NYSE AZO opened at $2,413.32 on Friday. AutoZone, Inc. has a fifty-two week low of $1,703.32 and a fifty-two week high of $2,610.05. The stock has a 50 day simple moving average of $2,454.45 and a two-hundred day simple moving average of $2,383.32. The stock has a market cap of $45.30 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.67 and a beta of 0.69.
AutoZone (NYSE:AZO – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported $24.64 earnings per share for the quarter, topping the consensus estimate of $21.33 by $3.31. AutoZone had a negative return on equity of 64.72% and a net margin of 14.32%. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the business posted $22.30 EPS. The business’s revenue was up 9.5% on a year-over-year basis. Sell-side analysts predict that AutoZone, Inc. will post 127.22 earnings per share for the current year.
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.
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