JT Stratford LLC Has $1.01 Million Holdings in AutoZone, Inc. (AZO)
JT Stratford LLC raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 177.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,774 shares of the company’s stock after purchasing an additional 1,135 shares during the period. JT Stratford LLC’s holdings in AutoZone were worth $1,012,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of AutoZone by 2,993.2% in the first quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock valued at $1,467,778,000 after purchasing an additional 1,964,358 shares during the period. JPMorgan Chase & Co. boosted its position in shares of AutoZone by 59.7% during the second quarter. JPMorgan Chase & Co. now owns 1,018,416 shares of the company’s stock worth $580,966,000 after buying an additional 380,824 shares during the period. OppenheimerFunds Inc. boosted its position in shares of AutoZone by 103.6% during the first quarter. OppenheimerFunds Inc. now owns 693,624 shares of the company’s stock worth $501,525,000 after buying an additional 352,990 shares during the period. Nordea Investment Management AB boosted its position in shares of AutoZone by 44.9% during the second quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock worth $585,917,000 after buying an additional 318,188 shares during the period. Finally, CI Global Investments Inc. boosted its position in shares of AutoZone by 437.2% during the second quarter. CI Global Investments Inc. now owns 321,207 shares of the company’s stock worth $183,236,000 after buying an additional 261,417 shares during the period. 96.77% of the stock is owned by hedge funds and other institutional investors.
In other news, Director William Andrew Mckenna purchased 300 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was bought at an average price of $507.00 per share, with a total value of $152,100.00. Following the acquisition, the director now directly owns 5,131 shares of the company’s stock, valued at $2,601,417. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.
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Shares of AutoZone, Inc. (NYSE AZO) traded down 1.08% during mid-day trading on Wednesday, hitting $593.06. The stock had a trading volume of 164,082 shares. AutoZone, Inc. has a 12-month low of $491.13 and a 12-month high of $813.70. The stock has a market capitalization of $16.51 billion, a price-to-earnings ratio of 13.46 and a beta of 0.64. The stock’s 50-day moving average price is $547.62 and its 200-day moving average price is $601.37.
AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 19th. The company reported $15.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $15.11 by $0.07. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.49 billion. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $14.30 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post $46.98 EPS for the current fiscal year.
Several analysts have weighed in on the company. Deutsche Bank AG reaffirmed a “hold” rating and set a $550.00 target price (down previously from $650.00) on shares of AutoZone in a research note on Friday, July 21st. Wedbush reissued a “neutral” rating on shares of AutoZone in a report on Thursday, July 6th. BidaskClub upgraded shares of AutoZone from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. cut their price objective on shares of AutoZone and set an “outperform” rating on the stock in a research note on Thursday, July 20th. Finally, Zacks Investment Research raised shares of AutoZone from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $742.38.
AutoZone Company Profile
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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