Wedge Capital Management L L P NC Has $32.18 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

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Wedge Capital Management L L P NC reduced its holdings in AutoZone, Inc. (NYSE:AZO) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,015 shares of the company’s stock after selling 4,041 shares during the period. Wedge Capital Management L L P NC’s holdings in AutoZone were worth $32,183,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Keudell Morrison Wealth Management bought a new stake in AutoZone during the 2nd quarter valued at $3,024,000. United Capital Financial Advisers LLC grew its position in AutoZone by 70.7% in the 2nd quarter. United Capital Financial Advisers LLC now owns 2,416 shares of the company’s stock valued at $2,656,000 after buying an additional 1,001 shares in the last quarter. US Bancorp DE grew its position in AutoZone by 21.4% in the 2nd quarter. US Bancorp DE now owns 3,319 shares of the company’s stock valued at $3,648,000 after buying an additional 586 shares in the last quarter. National Pension Service grew its position in AutoZone by 24.0% in the 2nd quarter. National Pension Service now owns 41,094 shares of the company’s stock valued at $45,182,000 after buying an additional 7,956 shares in the last quarter. Finally, AMP Capital Investors Ltd increased its stake in AutoZone by 21.7% during the 2nd quarter. AMP Capital Investors Ltd now owns 25,274 shares of the company’s stock valued at $27,399,000 after buying an additional 4,514 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Shares of NYSE AZO opened at $1,134.29 on Thursday. The stock’s fifty day simple moving average is $1,188.81 and its 200 day simple moving average is $1,139.68. The stock has a market capitalization of $27.08 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.53 and a beta of 0.62. AutoZone, Inc. has a 52-week low of $803.28 and a 52-week high of $1,274.41.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 10th. The company reported $14.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $13.74 by $0.56. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. AutoZone had a negative return on equity of 96.86% and a net margin of 13.45%. AutoZone’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $13.47 EPS. As a group, sell-side analysts expect that AutoZone, Inc. will post 66.17 EPS for the current year.

In other AutoZone news, VP William R. Hackney sold 5,054 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $1,222.09, for a total value of $6,176,442.86. Following the completion of the transaction, the vice president now directly owns 3,783 shares in the company, valued at $4,623,166.47. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by corporate insiders.

A number of analysts have recently weighed in on AZO shares. Raymond James upped their price target on shares of AutoZone from $1,250.00 to $1,350.00 and gave the stock a “positive” rating in a research note on Wednesday, December 11th. Oppenheimer restated an “outperform” rating and issued a $1,415.00 target price (up from $1,225.00) on shares of AutoZone in a research report on Wednesday, December 11th. Wells Fargo & Co upped their target price on AutoZone from $1,300.00 to $1,400.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada increased their price target on AutoZone to $1,278.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $1,350.00 price target (up from $1,275.00) on shares of AutoZone in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. AutoZone presently has an average rating of “Buy” and an average price target of $1,240.40.

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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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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