Toronto Dominion Bank lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,183 shares of the company’s stock after selling 873 shares during the period. Toronto Dominion Bank’s holdings in AutoZone were worth $18,513,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Allred Capital Management LLC purchased a new position in AutoZone in the first quarter valued at approximately $31,000. Cranbrook Wealth Management LLC bought a new stake in AutoZone in the 1st quarter valued at about $41,000. NEXT Financial Group Inc raised its stake in AutoZone by 34.8% in the 1st quarter. NEXT Financial Group Inc now owns 31 shares of the company’s stock valued at $44,000 after acquiring an additional 8 shares during the period. Freedman Financial Associates Inc. bought a new position in AutoZone during the fourth quarter worth about $58,000. Finally, Jackson Grant Investment Advisers Inc. increased its stake in shares of AutoZone by 118.2% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 48 shares of the company’s stock worth $67,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.
AZO has been the topic of several analyst reports. Argus cut AutoZone from a “buy” rating to a “hold” rating in a research report on Monday. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their target price on AutoZone from $1,562.00 to $1,665.00 and gave the company an “overweight” rating in a research note on Friday, May 21st. UBS Group lifted their price target on AutoZone from $1,415.00 to $1,700.00 and gave the stock a “buy” rating in a research note on Friday, May 7th. Raymond James increased their price objective on AutoZone from $1,565.00 to $1,700.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 27th. Finally, The Goldman Sachs Group raised their price objective on AutoZone from $1,280.00 to $1,547.00 and gave the company a “neutral” rating in a report on Tuesday, May 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,542.21.
AutoZone (NYSE:AZO) last posted its quarterly earnings data on Monday, May 24th. The company reported $26.48 EPS for the quarter, topping the consensus estimate of $18.62 by $7.86. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.12 billion. AutoZone had a net margin of 14.90% and a negative return on equity of 185.94%. AutoZone’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $14.39 earnings per share. Equities analysts expect that AutoZone, Inc. will post 87.37 EPS for the current fiscal year.
In related news, VP Preston Frazer sold 740 shares of the business’s stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $1,322.87, for a total value of $978,923.80. Following the completion of the transaction, the vice president now directly owns 993 shares in the company, valued at approximately $1,313,609.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Albert Saltiel sold 3,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 24th. The shares were sold at an average price of $1,345.65, for a total value of $4,306,080.00. Following the completion of the transaction, the vice president now directly owns 3,389 shares in the company, valued at $4,560,407.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,363 shares of company stock worth $17,412,062. Insiders own 2.80% of the company’s stock.
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, 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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