AutoZone, Inc. (AZO) Position Raised by Nordea Investment Management AB
Nordea Investment Management AB increased its stake in AutoZone, Inc. (NYSE:AZO) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,072,553 shares of the company’s stock after acquiring an additional 45,458 shares during the quarter. AutoZone makes up about 1.5% of Nordea Investment Management AB’s portfolio, making the stock its 16th biggest holding. Nordea Investment Management AB owned 3.90% of AutoZone worth $638,287,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of AZO. Fieldpoint Private Securities LLC purchased a new stake in shares of AutoZone during the second quarter worth $114,000. Salem Investment Counselors Inc. grew its holdings in shares of AutoZone by 3.5% during 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 in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AutoZone during the third quarter worth $179,000. Global X Management Co. LLC grew its holdings in shares of AutoZone by 12.9% during 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 in the last quarter. Finally, Jarislowsky Fraser Ltd purchased a new stake in shares of AutoZone during the third quarter worth $202,000. 98.66% of the stock is owned by institutional investors.
In related news, Director William Andrew Mckenna sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.
Shares of AutoZone, Inc. (NYSE:AZO) opened at $632.98 on Friday. The company has a debt-to-equity ratio of -3.56, a current ratio of 0.97 and a quick ratio of 0.15. AutoZone, Inc. has a 1-year low of $491.13 and a 1-year high of $813.70. The stock has a market cap of $17,402.52, a PE ratio of 14.37, a P/E/G ratio of 1.17 and a beta of 0.65.
AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $15.11 by $0.07. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the prior year, the firm posted $14.30 earnings per share. AutoZone’s quarterly revenue was up 3.3% on a year-over-year basis. research analysts expect that AutoZone, Inc. will post 46.78 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of AutoZone from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. Stephens reaffirmed a “hold” rating and set a $550.00 target price (down previously from $620.00) on shares of AutoZone in a report on Thursday, September 21st. Royal Bank Of Canada dropped their target price on shares of AutoZone from $577.00 to $571.00 and set a “sector perform” rating for the company in a report on Wednesday, September 20th. Wedbush reaffirmed a “hold” rating and set a $580.00 target price (down previously from $590.00) on shares of AutoZone in a report on Wednesday, September 20th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of AutoZone in a report on Thursday, September 21st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. AutoZone presently has an average rating of “Hold” and a consensus target price of $724.45.
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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