Ally Financial Inc. Acquires New Stake in AutoZone, Inc. (AZO)
Ally Financial Inc. acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,500 shares of the company’s stock, valued at approximately $1,426,000.
Several other large investors have also bought and sold shares of AZO. American Beacon Advisors Inc. bought a new position in shares of AutoZone during the 1st quarter valued at about $104,000. Alpha Windward LLC lifted its stake in AutoZone by 3.2% during the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock valued at $148,000 after buying an additional 8 shares in the last quarter. Global X Management Co. LLC lifted its stake in AutoZone by 12.9% during the second quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock valued at $184,000 after buying an additional 37 shares in the last quarter. Colony Group LLC purchased a new stake in AutoZone during the first quarter valued at about $205,000. Finally, Wesbanco Bank Inc. lifted its stake in AutoZone by 17.7% during the second quarter. Wesbanco Bank Inc. now owns 365 shares of the company’s stock valued at $208,000 after buying an additional 55 shares in the last quarter. Institutional investors own 96.08% of the company’s stock.
A number of analysts have commented on AZO shares. Royal Bank Of Canada reduced their price objective on shares of AutoZone from $577.00 to $571.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 20th. Morgan Stanley lowered shares of AutoZone from an “overweight” rating to an “equal weight” rating in a research report on Thursday, July 6th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of AutoZone in a research report on Tuesday, June 20th. UBS AG reissued a “buy” rating and issued a $655.00 price target (down from $725.00) on shares of AutoZone in a research report on Wednesday, September 20th. Finally, ValuEngine lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $747.27.
In other news, Director William Andrew Mckenna acquired 300 shares of AutoZone stock in a transaction on Thursday, July 13th. The stock was purchased at an average price of $507.00 per share, with a total value of $152,100.00. Following the completion of the purchase, the director now owns 5,131 shares of the company’s stock, valued at approximately $2,601,417. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP William T. Giles sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total value of $5,811,000.00. Following the completion of the sale, the vice president now directly owns 18,500 shares of the company’s stock, valued at approximately $10,750,350. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 19th. The company reported $15.18 EPS for the quarter, topping 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 business 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 posted $14.30 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis.
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AutoZone Company Profile
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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