Bowling Portfolio Management LLC Takes Position in AutoZone, Inc. (AZO)

Bowling Portfolio Management LLC bought a new position in AutoZone, Inc. (NYSE:AZO) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 266 shares of the company’s stock, valued at approximately $272,000.

Other large investors have also modified their holdings of the company. Scotia Capital Inc. increased its position in shares of AutoZone by 1.1% during the 4th quarter. Scotia Capital Inc. now owns 1,112 shares of the company’s stock valued at $932,000 after purchasing an additional 12 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of AutoZone by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 1,574 shares of the company’s stock valued at $1,320,000 after purchasing an additional 15 shares during the last quarter. Tompkins Financial Corp increased its position in shares of AutoZone by 9.4% during the 1st quarter. Tompkins Financial Corp now owns 221 shares of the company’s stock valued at $171,000 after purchasing an additional 19 shares during the last quarter. Great Lakes Advisors LLC increased its position in shares of AutoZone by 1.0% during the 3rd quarter. Great Lakes Advisors LLC now owns 2,037 shares of the company’s stock valued at $1,580,000 after purchasing an additional 20 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in shares of AutoZone by 0.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 4,081 shares of the company’s stock valued at $3,421,000 after purchasing an additional 22 shares during the last quarter. 95.06% of the stock is owned by institutional investors and hedge funds.

In related news, VP Thomas B. Newbern sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $995.92, for a total transaction of $7,469,400.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $12,023,742.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of the company’s 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 value of $259,670.00. Following the completion of the transaction, the director now owns 4,357 shares of the company’s stock, valued at $4,525,528.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,640 shares of company stock valued at $10,370,907. 2.80% of the stock is currently owned by corporate insiders.

Shares of NYSE:AZO opened at $1,045.05 on Friday. The company has a market cap of $26.01 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.43 and a beta of 0.69. AutoZone, Inc. has a 12-month low of $590.76 and a 12-month high of $1,074.67.

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

Several equities research analysts have recently commented on the stock. Wells Fargo & Co reaffirmed an “outperform” rating and set a $1,050.00 price target (up previously from $940.00) on shares of AutoZone in a research report on Tuesday, February 26th. Zacks Investment Research lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. JPMorgan Chase & Co. upped their price target on shares of AutoZone from $995.00 to $1,126.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Morgan Stanley upped their price target on shares of AutoZone from $900.00 to $980.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 27th. Finally, Evercore ISI assumed coverage on shares of AutoZone in a research report on Wednesday, March 20th. They set an “in-line” rating and a $1,030.00 price target for the company. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $960.13.

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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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