Marshfield Associates lifted its position in AutoZone, Inc. (NYSE:AZO) by 73.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,692 shares of the company’s stock after buying an additional 54,749 shares during the quarter. AutoZone makes up approximately 5.1% of Marshfield Associates’ portfolio, making the stock its 7th biggest holding. Marshfield Associates owned approximately 0.47% of AutoZone worth $77,181,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Fieldpoint Private Securities LLC purchased a new stake in AutoZone in the second quarter valued at approximately $114,000. Salem Investment Counselors Inc. raised its stake in AutoZone by 3.5% in the second quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock valued at $151,000 after purchasing an additional 9 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in AutoZone in the third quarter valued at approximately $179,000. Global X Management Co. LLC raised its stake in AutoZone by 12.9% in the second quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock valued at $184,000 after purchasing an additional 37 shares in the last quarter. Finally, Jarislowsky Fraser Ltd purchased a new stake in AutoZone in the third quarter valued at approximately $202,000. 99.03% of the stock is currently owned by hedge funds and other institutional investors.
AutoZone, Inc. (NYSE AZO) opened at $708.61 on Tuesday. AutoZone, Inc. has a 52-week low of $491.13 and a 52-week high of $809.52. The company has a debt-to-equity ratio of -3.27, a quick ratio of 0.14 and a current ratio of 0.93. The company has a market cap of $19,680.16, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.33 and a beta of 0.72.
In other news, Director William Andrew Mckenna sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $584.96, for a total value of $1,754,880.00. Following the transaction, the director now owns 8,131 shares in the company, valued at $4,756,309.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Charles Pleas III sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $700.00, for a total transaction of $7,000,000.00. Following the completion of the transaction, the vice president now owns 14,377 shares in the company, valued at approximately $10,063,900. The disclosure for this sale can be found here. Insiders sold 80,823 shares of company stock worth $56,687,723 in the last 90 days. Company insiders own 2.80% of the company’s stock.
A number of brokerages recently weighed in on AZO. Barclays raised their target price on shares of AutoZone from $710.00 to $800.00 in a research note on Thursday, December 7th. Wedbush reaffirmed a “hold” rating and issued a $580.00 target price (down from $590.00) on shares of AutoZone in a research note on Wednesday, September 20th. Citigroup reaffirmed a “buy” rating and issued a $700.00 target price on shares of AutoZone in a research note on Wednesday, September 20th. UBS reaffirmed a “buy” rating and issued a $655.00 target price (down from $725.00) on shares of AutoZone in a research note on Wednesday, September 20th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $720.00 target price on shares of AutoZone in a research note on Wednesday, December 6th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $733.89.
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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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