Pacer Advisors Inc. lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 640.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,073 shares of the company’s stock after purchasing an additional 1,793 shares during the quarter. Pacer Advisors Inc.’s holdings in AutoZone were worth $2,339,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Capital Square LLC acquired a new position in shares of AutoZone during the first quarter worth approximately $25,000. Arlington Partners LLC acquired a new position in shares of AutoZone during the first quarter worth approximately $30,000. Key Financial Inc purchased a new stake in AutoZone in the 1st quarter valued at $30,000. Rockefeller Capital Management L.P. purchased a new stake in AutoZone in the 1st quarter valued at $32,000. Finally, Liberty Wealth Management LLC raised its position in AutoZone by 131.6% in the 1st quarter. Liberty Wealth Management LLC now owns 44 shares of the company’s stock valued at $37,000 after buying an additional 25 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.
In other AutoZone news, VP Kristen C. Wright sold 1,890 shares of AutoZone stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1,140.00, for a total transaction of $2,154,600.00. Following the completion of the transaction, the vice president now owns 2,137 shares in the company, valued at $2,436,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Philip B. Daniele sold 176 shares of AutoZone stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $1,100.21, for a total value of $193,636.96. Following the transaction, the vice president now owns 247 shares of the company’s stock, valued at approximately $271,751.87. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $14.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $13.80 by $0.59. AutoZone had a negative return on equity of 91.18% and a net margin of 12.90%. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the company posted $15.99 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. On average, research analysts forecast that AutoZone, Inc. will post 62.98 EPS for the current fiscal year.
A number of equities research analysts recently commented on the company. Goldman Sachs Group increased their price target on AutoZone from $967.00 to $1,105.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $1,250.00 price objective (up previously from $1,119.00) on shares of AutoZone in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upped their price objective on AutoZone from $1,190.00 to $1,265.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Oppenheimer restated a “buy” rating on shares of AutoZone in a research note on Tuesday, May 26th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $1,300.00 price target on shares of AutoZone in a research note on Tuesday, July 28th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $1,223.69.
AutoZone Company Profile
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.
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