Check Capital Management Inc. CA Increases Position in AutoZone, Inc. (AZO)
Check Capital Management Inc. CA boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,607 shares of the company’s stock after buying an additional 3,686 shares during the quarter. AutoZone accounts for approximately 2.6% of Check Capital Management Inc. CA’s investment portfolio, making the stock its 12th largest position. Check Capital Management Inc. CA’s holdings in AutoZone were worth $46,671,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in AZO. Advisor Group Inc. boosted its stake in AutoZone by 48.2% during the second quarter. Advisor Group Inc. now owns 415 shares of the company’s stock valued at $236,000 after buying an additional 135 shares in the last quarter. Macquarie Group Ltd. lifted its stake in AutoZone by 23.9% in the 2nd quarter. Macquarie Group Ltd. now owns 13,986 shares of the company’s stock worth $7,978,000 after acquiring an additional 2,700 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in AutoZone by 36.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,670 shares of the company’s stock worth $25,483,000 after acquiring an additional 11,844 shares in the last quarter. Bank of Nova Scotia lifted its stake in AutoZone by 3.8% in the 2nd quarter. Bank of Nova Scotia now owns 6,759 shares of the company’s stock worth $3,870,000 after acquiring an additional 248 shares in the last quarter. Finally, Nomura Holdings Inc. lifted its stake in AutoZone by 444.4% in the 2nd quarter. Nomura Holdings Inc. now owns 2,548 shares of the company’s stock worth $1,454,000 after acquiring an additional 2,080 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised AutoZone from a “hold” rating to a “buy” rating and set a $819.00 price target for the company in a research note on Tuesday, February 6th. Jefferies Group reaffirmed a “hold” rating and set a $720.00 price target on shares of AutoZone in a research note on Wednesday, December 6th. Barclays raised their price target on AutoZone from $710.00 to $800.00 in a research note on Thursday, December 7th. Royal Bank of Canada raised their price target on AutoZone and gave the stock a “sector perform” rating in a research note on Wednesday, December 6th. Finally, Moffett Nathanson assumed coverage on AutoZone in a research note on Monday, December 4th. They set a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the company’s stock. AutoZone has an average rating of “Hold” and an average price target of $747.06.
AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $9.90 by $0.10. AutoZone had a negative return on equity of 78.83% and a net margin of 11.66%. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the business earned $9.36 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. research analysts predict that AutoZone, Inc. will post 49.64 earnings per share for the current fiscal year.
In related news, CFO William T. Giles sold 24,200 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $710.79, for a total value of $17,201,118.00. Following the transaction, the chief financial officer now directly owns 24,466 shares of the company’s stock, valued at approximately $17,390,188.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 26,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $701.84, for a total value of $18,598,760.00. Following the completion of the transaction, the chairman now directly owns 11,464 shares in the company, valued at $8,045,893.76. The disclosure for this sale can be found here. Insiders sold a total of 96,710 shares of company stock worth $69,098,826 over the last three months. 2.80% of the stock is owned by company insiders.
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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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