While Amazon.com, Inc. (NASDAQ:AMZN) seems to be dominating the world when it comes to ecommerce, one area it’s still lacking in is that of grocery sales and delivery. Although many analysts expect the company to make major inroads in this area over the next several years, there is much more to this business than simply selling nonperishable products like TVs and furniture. With that said, Amazon UK appears to be ramping up for an expansion of their grocery service within the UK, which is already performing quite well.
“We are really happy with the early numbers,” Christopher North, UK boss of Amazon told the Guardian. “In the new year we are going to be adding a lot more products.”
In fact Amazon UK expects to add thousands of new grocery products to a list which already includes over 4,000 such products, and wants to take on the big four supermarkets in the UK, which includes Tesco, Asda, Sainsbury’s and Morrisons, who are already under considerable pressure as shopping habits continue to change.
The service charges customers just £2.99 per large box of groceries that they have delivered and looks to eventually expand further in the coming years. The stock closed at $675.2 during the last trading session. It is up 58.70% since May 26, 2015 and is uptrending. It has outperformed the S&P500 by 60.96%.
From a total of 26 analysts covering Amazon.com (NASDAQ:AMZN) stock, 23 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 88% of the ratings are positive. The highest target price is $850 while the lowest target price is $525. The mean of all analyst targets is $726.35 which is 7.58% above today’s ($675.2) stock price. Amazon.com was the topic of 60 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Axiom Capital maintained shares on December 28 with a “Buy” rating. Barclays Capital maintained shares with a”Overweight” rating and a $850 target share price in their report from a December 1. M Partners initiated AMZN stock in a recent report from December 15 with a “Buy” rating. Canaccord Genuity maintained the rating on October 23. Canaccord Genuity has a “Hold” rating and a $600 price target on shares. Finally, Pacific Crest initiated the stock with a “Overweight” rating in a report they issued on a December 8.
The institutional sentiment increased to 1.49 in Q2 2015. It’s up 0.37, from 1.12 in 2015Q2. The ratio improved, as 67 funds sold all their Amazon.com, Inc. shares they owned while 376 reduced their positions. 166 funds bought stakes while 493 increased their total positions. Institutions now own 325.29 million shares which is 4.94% more than the previous share count of 309.99 million in 2015Q2.
Huntington Steele Llc holds 23.61% of its total portfolio in Amazon.com, Inc., equating to 103,872 shares. Tiger Global Management Llc owns 3.19 million shares representing 20.13% of their total US portfolio. Moreover, Tybourne Capital Management Hk Ltd has 18.16% of their total portfolio invested in the company, equating to 504,001 shares. The Washington-based Brighton Jones Llc has a total of 17.93% of their portfolio invested in the stock. Telemark Asset Management Llc, a Massachusetts-based fund reported 100,000 shares owned.
Since May 4, 2015, the stock had 0 insider purchases, and 11 sales for a total of $27.04 million in net activity. Stonesifer Patricia Q sold 6,250 shares worth $3.16 million. Wilke Jeffrey A sold 5,908 shares worth $3.16M. Reynolds Shelley sold 720 shares worth $381,752. Olsavsky Brian T sold 2,098 shares worth $1.11 million. The insider Zapolsky David sold 2,322 shares worth $1.23 million.
Amazon.com, Inc. is an e-commerce company. The company has a market cap of $310.69 billion. The Firm sells a range of services and products through its Websites. It has 979.46 P/E ratio. The Company’s products are offered through consumer-facing Websites, which include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.