American National Bank Increases Stock Position in AutoZone, Inc. (NYSE:AZO)


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American National Bank lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 21.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 4,246 shares of the company’s stock after buying an additional 756 shares during the period. American National Bank’s holdings in AutoZone were worth $5,963,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of AutoZone by 25.7% during the 4th quarter. JPMorgan Chase & Co. now owns 894,776 shares of the company’s stock worth $1,060,706,000 after acquiring an additional 182,966 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of AutoZone by 4.7% during the 4th quarter. Fiera Capital Corp now owns 752,638 shares of the company’s stock worth $892,208,000 after acquiring an additional 34,111 shares in the last quarter. Boston Partners boosted its stake in shares of AutoZone by 3.0% during the 4th quarter. Boston Partners now owns 701,115 shares of the company’s stock worth $831,130,000 after acquiring an additional 20,233 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of AutoZone by 9.8% during the 4th quarter. Nordea Investment Management AB now owns 607,219 shares of the company’s stock worth $719,822,000 after acquiring an additional 54,381 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of AutoZone by 42.8% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 550,215 shares of the company’s stock worth $652,247,000 after acquiring an additional 164,933 shares in the last quarter. 91.56% of the stock is currently owned by institutional investors and hedge funds.

In other AutoZone news, VP Ronald B. Griffin sold 674 shares of the firm’s stock in a transaction that occurred on Thursday, January 21st. The shares were sold at an average price of $1,250.38, for a total value of $842,756.12. Following the sale, the vice president now owns 1,156 shares in the company, valued at $1,445,439.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Philip B. Daniele sold 3,060 shares of the firm’s stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $1,191.16, for a total transaction of $3,644,949.60. Insiders have sold 28,347 shares of company stock worth $35,962,493 in the last ninety days. Corporate insiders own 2.80% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Stephens upped their target price on AutoZone from $1,350.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, March 26th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on AutoZone in a research note on Monday, March 15th. They issued a “buy” rating and a $1,424.00 target price on the stock. The Goldman Sachs Group assumed coverage on AutoZone in a research note on Wednesday, March 10th. They issued a “buy” rating and a $1,424.00 target price on the stock. Wells Fargo & Company upped their target price on AutoZone from $1,500.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 29th. They noted that the move was a valuation call. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of AutoZone in a research note on Wednesday, March 3rd. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. AutoZone presently has a consensus rating of “Buy” and a consensus price target of $1,383.04.

NYSE:AZO opened at $1,438.50 on Friday. The firm has a 50-day moving average of $1,293.02 and a two-hundred day moving average of $1,203.30. The stock has a market cap of $31.70 billion, a P/E ratio of 18.85, a PEG ratio of 2.95 and a beta of 0.83. AutoZone, Inc. has a 1-year low of $906.38 and a 1-year high of $1,446.24.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Monday, March 1st. The company reported $14.93 EPS for the quarter, topping the consensus estimate of $12.84 by $2.09. AutoZone had a net margin of 14.05% and a negative return on equity of 139.08%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the company posted $12.39 earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, analysts predict that AutoZone, Inc. will post 75 earnings per share for the current year.

About AutoZone

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, 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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