20,178 Shares in AutoZone, Inc. (AZO) Acquired by CI Investments Inc.
CI Investments Inc. purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 20,178 shares of the company’s stock, valued at approximately $12,008,000. CI Investments Inc. owned about 0.07% of AutoZone as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Fieldpoint Private Securities LLC purchased a new stake in AutoZone during the 2nd quarter valued at about $114,000. Alpha Windward LLC boosted its stake in shares of AutoZone by 3.2% in the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock worth $148,000 after buying an additional 8 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of AutoZone by 3.5% in the second quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock worth $151,000 after buying an additional 9 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of AutoZone by 12.9% in the second quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock worth $184,000 after buying an additional 37 shares during the last quarter. Finally, Jarislowsky Fraser Ltd purchased a new stake in shares of AutoZone in the third quarter worth about $202,000. Institutional investors and hedge funds own 98.25% of the company’s stock.
AZO has been the topic of a number of recent research reports. Royal Bank Of Canada lowered their target price on AutoZone from $577.00 to $571.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 20th. Zacks Investment Research downgraded AutoZone from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. UBS AG restated a “buy” rating and issued a $655.00 target price (down previously from $725.00) on shares of AutoZone in a research note on Wednesday, September 20th. Robert W. Baird restated a “hold” rating and issued a $590.00 target price on shares of AutoZone in a research note on Friday, October 27th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $583.00 target price (down previously from $658.00) on shares of AutoZone in a research note on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. AutoZone presently has a consensus rating of “Hold” and an average price target of $724.45.
In related news, Director William Andrew Mckenna sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $584.96, for a total value of $1,754,880.00. Following the completion of the sale, the director now owns 8,131 shares of the company’s stock, valued at $4,756,309.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.80% of the stock is currently owned by company insiders.
AutoZone, Inc. (NYSE AZO) traded down $2.80 during trading hours on Tuesday, hitting $595.26. The company had a trading volume of 359,900 shares, compared to its average volume of 457,273. AutoZone, Inc. has a 12-month low of $491.13 and a 12-month high of $813.70. The company has a debt-to-equity ratio of -3.56, a quick ratio of 0.15 and a current ratio of 0.97. The firm has a market capitalization of $16,442.18, a PE ratio of 13.57, 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 EPS for the quarter, beating the consensus estimate of $15.11 by $0.07. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter last year, the firm earned $14.30 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. sell-side analysts forecast that AutoZone, Inc. will post 46.78 EPS for the current year.
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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