Zurich Insurance Group Ltd FI Increases Stake in AutoZone, Inc. (AZO)
Zurich Insurance Group Ltd FI grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 22.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,933 shares of the company’s stock after buying an additional 904 shares during the period. Zurich Insurance Group Ltd FI’s holdings in AutoZone were worth $2,814,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of AutoZone by 2,993.2% during the 1st quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock valued at $1,467,778,000 after buying an additional 1,964,358 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of AutoZone by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,899,758 shares of the company’s stock valued at $1,083,735,000 after buying an additional 32,542 shares in the last quarter. FMR LLC boosted its holdings in shares of AutoZone by 6.7% during the 2nd quarter. FMR LLC now owns 1,864,473 shares of the company’s stock valued at $1,063,608,000 after buying an additional 117,019 shares in the last quarter. State Street Corp boosted its holdings in shares of AutoZone by 3.2% during the 1st quarter. State Street Corp now owns 1,296,527 shares of the company’s stock valued at $937,455,000 after buying an additional 40,358 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of AutoZone by 44.9% during the 2nd quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock valued at $585,917,000 after buying an additional 318,188 shares in the last quarter. Hedge funds and other institutional investors own 96.77% of the company’s stock.
AutoZone, Inc. (NYSE:AZO) opened at 591.16 on Thursday. The firm has a 50-day moving average price of $549.88 and a 200-day moving average price of $601.33. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of 13.41 and a beta of 0.64. AutoZone, Inc. has a 12 month low of $491.13 and a 12 month high of $813.70.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 EPS for the quarter, beating analysts’ consensus estimates of $15.11 by $0.07. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same period last year, the business posted $14.30 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that AutoZone, Inc. will post $46.98 earnings per share for the current fiscal year.
In other AutoZone news, Director William Andrew Mckenna sold 3,000 shares of the stock in a transaction dated 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 directly owns 8,131 shares in the company, valued at $4,756,309.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.
AZO has been the topic of a number of research reports. TheStreet upgraded shares of AutoZone from a “d+” rating to a “c” rating in a report on Wednesday, June 7th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of AutoZone in a report on Tuesday, June 20th. Wedbush restated a “neutral” rating on shares of AutoZone in a report on Thursday, July 6th. Morgan Stanley cut shares of AutoZone from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 6th. Finally, Barclays PLC lowered their price target on AutoZone from $870.00 to $710.00 and set an “overweight” rating for the company in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. AutoZone currently has an average rating of “Hold” and an average price target of $735.85.
TRADEMARK VIOLATION NOTICE: “Zurich Insurance Group Ltd FI Increases Stake in AutoZone, Inc. (AZO)” was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.watchlistnews.com/zurich-insurance-group-ltd-fi-increases-stake-in-autozone-inc-azo/1610218.html.
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.
Want to see what other hedge funds are holding AZO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoZone, Inc. (NYSE:AZO).
Receive News & Ratings for AutoZone Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.