AutoZone, Inc. (AZO) Position Trimmed by First Republic Investment Management Inc.

First Republic Investment Management Inc. decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 9.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311 shares of the company’s stock after selling 31 shares during the quarter. First Republic Investment Management Inc.’s holdings in AutoZone were worth $319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in AutoZone by 4.4% in the third quarter. JPMorgan Chase & Co. now owns 2,034,551 shares of the company’s stock valued at $1,578,202,000 after buying an additional 84,961 shares in the last quarter. Teachers Advisors LLC increased its holdings in AutoZone by 5.4% in the third quarter. Teachers Advisors LLC now owns 41,373 shares of the company’s stock valued at $32,093,000 after buying an additional 2,126 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in AutoZone by 50.7% in the third quarter. TIAA CREF Investment Management LLC now owns 149,691 shares of the company’s stock valued at $116,115,000 after buying an additional 50,369 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in AutoZone by 3.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,149 shares of the company’s stock valued at $6,832,000 after buying an additional 234 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in AutoZone by 44.8% in the fourth quarter. Bank of Montreal Can now owns 149,444 shares of the company’s stock valued at $125,285,000 after buying an additional 46,222 shares in the last quarter. 95.81% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on AZO. JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $995.00 to $1,126.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Credit Suisse Group set a $1,131.00 price objective on shares of AutoZone and gave the stock a “positive” rating in a research note on Tuesday, April 23rd. They noted that the move was a valuation call. Citigroup began coverage on shares of AutoZone in a research note on Monday, April 1st. They set a “buy” rating and a $1,206.00 price objective for the company. Morgan Stanley raised their price objective on shares of AutoZone from $980.00 to $1,050.00 and gave the stock an “equal weight” rating in a research note on Friday, March 29th. Finally, Evercore ISI began coverage on shares of AutoZone in a research note on Wednesday, March 20th. They set an “in-line” rating and a $1,030.00 price objective for the company. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. AutoZone currently has an average rating of “Buy” and a consensus target price of $994.50.

Shares of AZO opened at $984.09 on Friday. AutoZone, Inc. has a 1-year low of $597.00 and a 1-year high of $1,074.67. The company has a market cap of $24.49 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 1.32 and a beta of 0.67.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, February 26th. The company reported $11.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $9.97 by $1.52. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. AutoZone had a net margin of 12.49% and a negative return on equity of 98.24%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $8.47 EPS. As a group, research analysts predict that AutoZone, Inc. will post 61.74 earnings per share for the current year.

In other AutoZone news, VP Albert Saltiel sold 2,150 shares of AutoZone stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $912.11, for a total value of $1,961,036.50. Following the completion of the sale, the vice president now directly owns 2,308 shares of the company’s stock, valued at approximately $2,105,149.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $1,038.68, for a total transaction of $259,670.00. Following the completion of the sale, the director now directly owns 4,357 shares of the company’s stock, valued at $4,525,528.76. The disclosure for this sale can be found here. Insiders sold a total of 10,640 shares of company stock valued at $10,370,907 over the last ninety days. 2.80% of the stock is owned by corporate insiders.

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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, 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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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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