JPMorgan Chase & Co. Has $1.59 Billion Stake in AutoZone, Inc. (NYSE:AZO)

JPMorgan Chase & Co. grew its stake in AutoZone, Inc. (NYSE:AZO) by 26.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,134,026 shares of the company’s stock after buying an additional 239,250 shares during the period. JPMorgan Chase & Co. owned approximately 0.05% of AutoZone worth $1,592,512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of AutoZone during the 4th quarter valued at about $294,223,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of AutoZone by 42.8% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 550,215 shares of the company’s stock worth $652,247,000 after buying an additional 164,933 shares during the last quarter. Morgan Stanley boosted its holdings in shares of AutoZone by 153.1% during the 4th quarter. Morgan Stanley now owns 177,777 shares of the company’s stock worth $210,745,000 after buying an additional 107,539 shares during the period. Nordea Investment Management AB grew its stake in AutoZone by 9.8% in the 4th quarter. Nordea Investment Management AB now owns 607,219 shares of the company’s stock valued at $719,822,000 after buying an additional 54,381 shares during the last quarter. Finally, Boston Partners raised its holdings in AutoZone by 5.6% in the 1st quarter. Boston Partners now owns 740,459 shares of the company’s stock worth $1,040,250,000 after acquiring an additional 39,344 shares during the period. Institutional investors own 87.28% of the company’s stock.

NYSE:AZO traded up $19.82 during mid-day trading on Friday, reaching $1,394.35. 1,104 shares of the company were exchanged, compared to its average volume of 227,915. The stock has a market capitalization of $30.73 billion, a PE ratio of 15.11, a PEG ratio of 1.39 and a beta of 0.95. AutoZone, Inc. has a 12 month low of $1,074.45 and a 12 month high of $1,542.30. The firm’s fifty day moving average is $1,453.44.

AutoZone (NYSE:AZO) last announced its earnings results on Monday, May 24th. The company reported $26.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $18.62 by $7.86. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.12 billion. AutoZone had a net margin of 14.90% and a negative return on equity of 185.94%. AutoZone’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the business earned $14.39 earnings per share. As a group, equities analysts anticipate that AutoZone, Inc. will post 87.37 EPS for the current fiscal year.

In related news, VP Albert Saltiel sold 3,200 shares of the stock in a transaction that occurred on Wednesday, March 24th. The shares were sold at an average price of $1,345.65, for a total value of $4,306,080.00. Following the transaction, the vice president now directly owns 3,389 shares in the company, valued at $4,560,407.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Ronald B. Griffin sold 5,593 shares of AutoZone stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $1,304.75, for a total transaction of $7,297,466.75. Following the sale, the vice president now directly owns 6,075 shares of the company’s stock, valued at approximately $7,926,356.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,533 shares of company stock valued at $12,582,471. 2.80% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently commented on AZO shares. Argus lowered AutoZone from a “buy” rating to a “hold” rating in a research note on Monday. They noted that the move was a valuation call. Royal Bank of Canada lowered their price objective on shares of AutoZone from $1,596.00 to $1,565.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 26th. Stephens upped their target price on shares of AutoZone from $1,350.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, March 26th. Wells Fargo & Company raised their price target on shares of AutoZone from $1,600.00 to $1,700.00 and gave the stock an “overweight” rating in a research report on Thursday, May 13th. Finally, Wedbush increased their target price on shares of AutoZone from $1,320.00 to $1,650.00 and gave the company an “outperform” rating in a research note on Monday, May 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $1,542.21.

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, 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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