Suntrust Banks Inc. Increases Stake in AutoZone, Inc. (AZO)

Suntrust Banks Inc. grew its position in shares of AutoZone, Inc. (NYSE:AZO) by 7.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 745 shares of the company’s stock after buying an additional 53 shares during the quarter. Suntrust Banks Inc.’s holdings in AutoZone were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AZO. BlackRock Inc. lifted 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 during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of AutoZone by 59.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,018,416 shares of the company’s stock valued at $580,966,000 after buying an additional 380,824 shares during the last quarter. CI Global Investments Inc. lifted its holdings in shares of AutoZone by 437.2% during the 2nd quarter. CI Global Investments Inc. now owns 321,207 shares of the company’s stock valued at $183,236,000 after buying an additional 261,417 shares during the last quarter. FMR LLC lifted 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 during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of AutoZone by 43.9% during the 2nd quarter. Lazard Asset Management LLC now owns 327,453 shares of the company’s stock valued at $186,798,000 after buying an additional 99,916 shares during the last quarter. Institutional investors and hedge funds own 96.77% of the company’s stock.

AZO has been the subject of several research reports. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of AutoZone in a report on Tuesday, June 20th. Bank of America Corporation reiterated a “buy” rating and set a $625.00 price target on shares of AutoZone in a report on Tuesday, September 5th. Citigroup Inc. reiterated a “buy” rating and set a $700.00 price target on shares of AutoZone in a report on Wednesday, September 20th. Credit Suisse Group reiterated a “buy” rating and set a $583.00 price target on shares of AutoZone in a report on Wednesday, September 20th. Finally, UBS AG reiterated a “buy” rating and set a $655.00 price target (down from $725.00) on shares of AutoZone in a report on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $735.85.

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AutoZone, Inc. (AZO) opened at 588.56 on Thursday. AutoZone, Inc. has a 12 month low of $491.13 and a 12 month high of $813.70. The company has a market capitalization of $16.38 billion, a P/E ratio of 13.36 and a beta of 0.64. The firm has a 50-day moving average price of $560.81 and a 200 day moving average price of $596.60.

AutoZone (NYSE:AZO) last released 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 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 firm posted $14.30 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Analysts expect that AutoZone, Inc. will post $46.98 EPS for the current year.

In other news, Director William Andrew Mckenna sold 3,000 shares of the firm’s 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 directly 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 accessible through this link. Company insiders own 2.60% of the company’s stock.

About AutoZone

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.

Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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