JPMorgan Chase & Co. Grows Holdings in AutoZone, Inc. (NYSE:AZO)

JPMorgan Chase & Co. grew its position in shares of AutoZone, Inc. (NYSE:AZO) by 26.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,134,026 shares of the company’s stock after purchasing an additional 239,250 shares during the period. JPMorgan Chase & Co. owned 5.15% of AutoZone worth $1,592,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in AutoZone during the fourth quarter worth approximately $294,223,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of AutoZone by 42.8% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 550,215 shares of the company’s stock valued at $652,247,000 after purchasing an additional 164,933 shares during the period. Morgan Stanley increased its stake in AutoZone by 153.1% in the fourth quarter. Morgan Stanley now owns 177,777 shares of the company’s stock valued at $210,745,000 after purchasing an additional 107,539 shares during the last quarter. Nordea Investment Management AB lifted its position in AutoZone by 9.8% during the fourth quarter. Nordea Investment Management AB now owns 607,219 shares of the company’s stock worth $719,822,000 after buying an additional 54,381 shares during the period. Finally, Boston Partners boosted its stake in AutoZone by 5.6% in the 1st quarter. Boston Partners now owns 740,459 shares of the company’s stock worth $1,040,250,000 after buying an additional 39,344 shares during the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

AZO traded up $19.82 during trading on Friday, hitting $1,394.35. The company had a trading volume of 1,104 shares, compared to its average volume of 227,915. The company has a market cap of $30.73 billion, a P/E ratio of 15.11, a PEG ratio of 1.39 and a beta of 0.95. AutoZone, Inc. has a 1-year low of $1,074.45 and a 1-year high of $1,542.30. The stock has a 50-day moving average of $1,453.44.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Monday, May 24th. The company reported $26.48 EPS for the quarter, topping the consensus estimate of $18.62 by $7.86. AutoZone had a net margin of 14.90% and a negative return on equity of 185.94%. The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the company posted $14.39 earnings per share. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. On average, equities research analysts predict that AutoZone, Inc. will post 87.37 EPS for the current year.

AZO has been the topic of several research analyst reports. Oppenheimer reissued a “buy” rating and issued a $1,500.00 target price on shares of AutoZone in a research report on Wednesday, March 3rd. Raymond James increased their target price on AutoZone from $1,565.00 to $1,700.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 27th. The Goldman Sachs Group boosted their price target on AutoZone from $1,280.00 to $1,547.00 and gave the company a “neutral” rating in a research report on Tuesday, May 4th. They noted that the move was a valuation call. Wells Fargo & Company raised their price objective on AutoZone from $1,600.00 to $1,700.00 and gave the stock an “overweight” rating in a report on Thursday, May 13th. Finally, Wedbush boosted their target price on AutoZone from $1,320.00 to $1,650.00 and gave the stock an “outperform” rating in a report on Monday, May 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,542.21.

In other news, VP Preston Frazer sold 740 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 993 shares in the company, valued at approximately $1,313,609.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Ronald B. Griffin sold 5,593 shares of AutoZone stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $1,304.75, for a total transaction of $7,297,466.75. Following the completion of the transaction, the vice president now directly owns 6,075 shares of the company’s stock, valued at $7,926,356.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,533 shares of company stock valued at $12,582,471. 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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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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