Verus Capital Partners LLC Increases Stake in AutoZone, Inc. (NYSE:AZO)
Verus Capital Partners LLC boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 51.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 138 shares of the company’s stock after purchasing an additional 47 shares during the quarter. Verus Capital Partners LLC’s holdings in AutoZone were worth $117,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in AutoZone during the 4th quarter valued at about $300,000. Lloyd Advisory Services LLC. purchased a new stake in shares of AutoZone during the 4th quarter valued at about $36,000. Dumont & Blake Investment Advisors LLC purchased a new stake in shares of AutoZone during the 1st quarter valued at about $563,000. Manning & Napier Group LLC boosted its holdings in shares of AutoZone by 1.7% during the 1st quarter. Manning & Napier Group LLC now owns 23,716 shares of the company’s stock valued at $20,062,000 after acquiring an additional 391 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of AutoZone by 63.6% during the 4th quarter. Franklin Resources Inc. now owns 16,231 shares of the company’s stock valued at $19,336,000 after acquiring an additional 6,311 shares during the last quarter. 91.75% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on AZO. Oppenheimer reaffirmed a “buy” rating on shares of AutoZone in a report on Tuesday, May 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $1,250.00 price objective (up previously from $1,119.00) on shares of AutoZone in a research note on Wednesday, May 27th. ValuEngine upgraded shares of AutoZone from a “sell” rating to a “hold” rating in a research note on Friday, March 6th. Goldman Sachs Group increased their price objective on shares of AutoZone from $967.00 to $1,105.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Finally, Nomura Instinet restated a “buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,215.88.
Shares of AutoZone stock traded down $0.20 on Friday, hitting $1,103.10. 9,482 shares of the company traded hands, compared to its average volume of 245,363. The business has a 50-day simple moving average of $1,109.36 and a 200 day simple moving average of $1,067.85. AutoZone, Inc. has a 52 week low of $684.91 and a 52 week high of $1,274.41. The stock has a market capitalization of $25.68 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.87 and a beta of 0.91.
AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 26th. The company reported $14.39 earnings per share for the quarter, beating analysts’ consensus estimates of $13.80 by $0.59. AutoZone had a net margin of 12.90% and a negative return on equity of 91.18%. The firm had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the firm posted $15.99 earnings per share. AutoZone’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts anticipate that AutoZone, Inc. will post 62.52 earnings per share for the current year.
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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